SummaryHotbed is a virtual accelerator that aims to address the imbalance in funding and opportunity for founders around the world. The founders, Perdie Alder and Em, recognized the need for investors to access talented founders outside of major cities. They launched Hotbed with a unique strategy that focuses on assessing the potential of startups based on their ability to execute and engage with users. The founders shared insights on the characteristics of successful founders, the challenges of getting started, and the importance of mindset and support networks. They also discussed the need for diversity in the tech space and the potential for founders to raise funds in different markets. Overall, Hotbed aims to create a more inclusive and supportive ecosystem for founders.

Takeaways

• Hotbed is a virtual accelerator that aims to address the funding and opportunity imbalance for founders around the world.
• Successful founders are characterized by their frequent engagement with users, focus on key metrics, and ability to sell their vision.
• The funding ecosystem varies depending on the stage of the startup, with pre-seed and seed rounds still being funded.
• Founders should focus on proving their value proposition and building relationships with investors, while also being aware of the challenges and biases they may face.
• Resilience, tenacity, and a supportive network are crucial for navigating the ups and downs of entrepreneurship.

Chapters

00:00Introduction to Hotbed

00:14Identifying the Shift in the Market

01:36The Unique Strategy of Hotbed

03:57Challenges of Getting Started

06:13Defining Characteristics of Successful Founders

09:30The Funding Ecosystem

11:04Building with Limited Resources

12:09Diversity in the Tech Space

15:14Raising Funds in Different Markets

20:28Importance of Supportive Relationships

22:36The Origin of the Name Hotbed

23:45Changing the Funding Landscape

27:03Maintaining Resilience and Mindset

29:25Best Success Story

30:58Approaching Investors

32:07Contacting Hotbed