In late 2016, Mum's Garage partnered with 2016 Lightning Lab Digital Programme Director, Jeff Mann of Double Shot, to deliver New Zealand's first pre-accelerator programme called The Validator. The programme was delivered for Creative HQ leading into the Kiwibank FinTech Accelerator.
The Validator was established after both Natalie and Jeff recognised the significant disadvantage teams had when entering accelerator programmes without a well validated idea and a solid company foundation. The purpose of The Validator is to get founders to the point where they have the best chance of getting into, and thriving, in an accelerator.
Kiwibank Fintech Accelerator Market Validation
In true validation style, we designed The Validator around the problems founders and Kiwi accelerators were having, by developing it with the support of Creative HQ for the new FinTech Accelerator. Creative HQ selected 16 teams to go through The Validator, leading up to the pitch day for the accelerator. Teams participated in the 5-week programme, which consisted of video content teaching market validation and startup foundations, one-on-one mentorship and a whole lot of fast paced execution.
The Validator was a big success, with 6 out of the 8 teams who qualified to pitch on the selection day securing a spot in the accelerator, and the ones who didn't make it determined to make their startups a success regardless. The accelerator accepted 7 teams in total.
We plan to run The Validator a number of times throughout 2017, linking in with other accelerator programs to build the capabilities of kiwi founders and produce more high growth, high impact companies.
Read more about the journey in the KiwiBank FinTech Accelerator's updates: