For those early or inaugural programs, you’ll be needing to do a lot of outreach to build deal flow. Being the new kids on the block in a crowded area means you have to work a bit harder. Still, even mature programs do a fair amount of outbound to land great startups. This reminds me of an experience I’ve had in my own outbound sourcing.
We were doing a lot of outreach while setting up a new program in Europe. During this time, a theme emerged where many of the companies we sourced had already been in contact with another program. It kept happening over and over, even when we found under-the-radar startups, or companies in not so typical geographies. This other program was Angelpad in the States, and the outreach was conducted personally by none other than the program’s Managing Partner, Thomas Korte. Although Angelpad is perhaps a program that is not so well known, they have managed to recruit some amazing startups such as Postmates (which has surpassed $2B in valuation).  It seems a solid ability to outreach to undiscovered companies is one of the keys to such success.
Scouting Outreach Template
Here’s a sample template you can use as part of your outreach efforts. Make it unique to your program and even though it’s a template, the more tailored the better.
I came across <STARTUP NAME> while researching <YOUR INDUSTRY OR REGIONAL FOCUS>. What you are working on is really interesting and I would love to learn more.
I’m <YOUR NAME> and right now I’m recruiting for the <YOUR ACCELERATOR> program taking place in <YOUR LOCATION> on <YOUR START DATE>. Our program is focused on startups working in the areas of <YOUR FOCUS>. Additionally, we have experts and partners (<PARTNER 1>, <PARTNER 2> and more) who can help you leverage technologies like AI and Blockchain to grow your business faster.
Companies in our program receive <YOUR INVESTMENT AMOUNT> in funding along with access to our large mentor network and investors.
Would this be of interest to you?
You can visit <YOUR WEBSITE> to learn more, or reply to this email with any questions you may have. Since I found your company you can ‘skip the line’ of applications and go right to an interview with our investment partners.
Please let me know soon if you would like to interview.
Not sure if this belongs here, or if so I missed the point.