Bootup Labs Starts On Its Long, Long Road to Recovery

Posted: April 23rd, 2010 | Author: | Filed under: posts | Tags: , , | 3 Comments »

Danny Robinson from Bootup Labs posted an apology for the unfortunate events that recently unfolded. His ‘personal learnings’ are certainly good things for him to come to a realization on. However, Bootup has a long road ahead of itself in its quest for restoration.

The early stage startup community is a small one, and the way that seed accelerators differentiate themselves is by attracting the best founders and then building a clear history of sustainable companies that move on to the next phase. Unfortunately for Bootup, rather than founders learning about the program by hearing of some fabulous startup that emerged from the program, this mud-stained history of founder/investor issues is going to cloud their reputation. As founders have choices and are going to select accelerators that have been able to demonstrate a strong value-add, recruiting the next class is going to be extremely difficult for Bootup, I suspect. Comments at Hacker News show how greatly the program is burned and the first page of Google results is now half filled with this mess. It’ll be interesting to see how the program progresses and what they can salvage from this. Powerful lessons for the other startup accelerators and for how to conduct your operations in general.

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  • dougsterino

    If BootUp and thier founders were not bankable with investors before, why would it be now after this huge screwup and demonstrated lack of judgement? Sorry, but its Game Over!

  • Robert Shedd

    I agree that reputation is a huge part of the game and this is a severe black eye for them. However, money being money, so I'm sure they will find some willing takers. The issue will be, as it is for all accelerators, how to get the best teams for their program – and this reputation issue does not help them at all with that, as the best teams have options. So, the questions really is whether they can take the teams that they do get and successfully move them along to the next level, help them get a next round of funding / some exits. If they can, then they'll probably be ok in time. If not, then this is the beginning of the end…