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Once accepted into the program, the Dabra team received seed funding, executive mentorship and, most importantly, the ability to focus 100percentt on creating a meaningful solution that was adopted.
Beyond Series A, L.A. entrepreneurs are stuck traveling to Silicon Valley for investment partners, meaning we lack not only their necessary capital, but also a critical mass of their expertise and executive mentorship.
Cody Simms, managing director for Techstars in Los Angeles, which together with Disney helps media and entertainment related tech startups with a $120,000 investment and executive mentorship, said support from government, financiers and others is good, but "what you really need is the entrepreneurs helping each other" and creating a startup ecosystem.
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"We've had an employee who asked the chief executive for mentorship, for example," she said.
These include professional training, peer assessments, process consulting, performance contracting, executive coaching, mentorship, international organizational collaboration, and a variety of partnership types.
In exchange, they get 12 weeks of administrative and legal help, participate in weekly dinners, and get one-on-one mentorship from executives in the media industry.
Are you seeing executives come to you for mentorship, learning, and training as well?
It also suggests accountants, bankers or experienced executives could also provide useful mentorship to scale ups.
They have programs of mentorship by senior executives; peer learning and knowledge sharing; and job-rotation programs.
Ultimately, five founders are selected to receive a $10,000 award, a spot in a five-week accelerator program at Rent the Runway's New York office and mentorship with UBS executives, as well as legal advisors, entrepreneurs and investors.
They also want.... "more support, structure and supervision for emerging managers under their direction to take on significant challenges and more opportunities for mentorship of younger executives".
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