Applying to accelerators and incubators

New / Product
yoQd16

New Product

yoQd16
Aug 27, 2018 13 Comments

I work for a large company and have a side project in the ML/DL space, that I’d like to go full time with, some day. I have an MVP, found product market fit and have on-boarded a few users.

Can I apply to accelerators and incubators with my idea? Can I continue working for my company while pursuing this idea on the weekends, if I don’t make any money of off it? Do I have to register the company as an LLC or C-Corp?

I don’t want to quit as my employers health insurance is important for me. I am not on a work visa any longer. TC 250K.

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TOP 13 Comments
  • Ask your manager. And read your job contract. They might not be happy with you having a side job taking your energy. They might also claim IP on your work.
    Aug 27, 2018 3
  • CarLabs
    auLl83

    CarLabs

    auLl83
    Can I apply to accelerators and incubators with my idea? - yes, if you’ve found product market fit they will be excited

    Can I continue working for my company while pursuing this idea on the weekends, if I don’t make any money of off it? - yes, but if you take investment you have to go all in

    Do I have to register the company as an LLC or C-Corp? Probably, but it’s really not bad https://stripe.com/atlas

    If you incorporate and get a little funding, you could offer employees of the company (you) a group insurance plan, and since you have less than 25 employees you get a big discount.
    Aug 27, 2018 3
    • CarLabs
      auLl83

      CarLabs

      auLl83
      Read your employment contract / handbook / any HR docs you’ve signed.
      Aug 27, 2018
    • New / Product
      yoQd16

      New Product

      yoQd16
      OP
      Got it! Thanks.
      Aug 27, 2018
  • Nobody invests if you are not full time
    Aug 27, 2018 3
  • In my opinion getting into accelerators is not that easy. More difficult for sole founders. But you can surely try. Anybody else, how has your experience been with accelerators?
    Aug 28, 2018 0