At the heart of every Accelerator is the goal of helping Startups succeed. Five23 has this same goal, that is why we focus on strengthening the overall knowledge of the startup from a third party viewpoint. On average, an Accelerator spends 8 hours working with a Startup before they are accepted to the program, and roughly 6.5 hours working with a Startup that is not accepted. When you calculate the amount of total startups applying to an Accelerator with the amount of time it takes to review each Startup, the numbers are astronomical. Five23 is making this process easier both for the Startup and the Accelerator, saving time and money.
It is important for Accelerators to have a clear picture of the Startups they accept for their programs. Generally, this is done by a team of analysts pouring over data provided by the Startup in question. While Five23 can’t replace the whole vetting process, we can provide a helping hand. Think of our business reports as the first step in the process. We look at many items related to the Startup including: Financial Data, General Projections, Incorporation Documents, and most importantly, the Core Team Members. Once the information is gathered, we create a Business Report detailing the strengths and weaknesses of each area. Armed with this report, your Accelerator has a clear picture of the Startup from which to make decisions.
With the average Accelerator having 80 Startups pass through their program a year. It is difficult to properly vet the amount of applicants to these programs. That is where Five23 comes in, with our ‘Seed’ Package the focus is to gain a clear idea of what the strengths and weaknesses of a venture are, with as minimal time as possible. Our average ‘Seed’ Business Report takes just 3 days to complete and is scalable up to thirty reports a week per accelerator. We are able to maintain this high of a velocity without sacrificing quality; proving invaluable to Accelerators and their due diligence processes.
"Loved the business analysis. Very level and on point about our industry. Any Startup can greatly benefit from these reports, and I genuinely believe it will help entrepreneurs."
"These reports are exactly what we are looking for to understand Startups' strengths and weaknesses, and if we should make an investment."
"Five23's product will help our Startups a lot. We are very excited to work with Five23 to offer their products to the companies in Startup Chile's program."
"I'm definitely going to recommend Five23 to all my colleagues not only in StartUpChile but also in my personal network. I think that is a game changer for an early stage startup to have the professional advice of Five23."
We at Five23, understand Accelerators have different philosophies when it comes to finding companies for their program. Whether you want more focus on the Startup’s opportunity or the team behind the Startup, we want to work with you to tailor our business reports to fit your needs. We have three different packages, each with a varied degree of information to establish a baseline. From there, the sky is the limit. If you’d like to learn more about the services Five23 offers or would like to set up a call to discuss your specific due diligence needs, please contact us.
Accelerators learned something about the Startup their own Due Diligence didn't turn up
Startups that were Accelerated received funding within 6 months using Five23's Business Reports in dealings with investors
Accelerators who found Five23's Business Reports invaluable in their due diligence process.