Demonstrating scalability is key to a successful MIST Startup Accelerator application. Read this blog and download our full guide to get all the details you need.
So you’re applying for the MIST Startup Accelerator, but you need some extra help. The good news is that you’re already on the right track! As MIST’s official media partner, Dulichable has the scoop and we’re here to help.
We watched MIST 2017 closely and we have direct communication with the MIST selection committee. This is article is part of a series on how to write a successful MIST application. Today we focus on demonstrating that your idea is scalable.
Demonstrating scalability is where things get a little tricky. There are two things you should consider:
- The cost of expanding your idea
- How investible your idea is
The first point is relatively easy to understand. When demonstrating that expanding your idea won’t break the bank, you need to show that growth isn’t intrinsically tied to huge amounts of investment.
Boutique homestays struggle with this due to the cost of acquiring or leasing land. Tour companies typically have less difficulty, as long as expansion isn’t linked to acquiring expensive items like tour buses or jeeps. Travel tech startups should have the least amount of trouble with this category.
The second point is a little harder to understand. The MIST selection committee spends a lot of time thinking about what will happen to companies later on. Applicants are typically seeking investment, so the MIST selection committee also needs to think about how attractive your idea is to investors.
This is what we mean by how investible your idea is.
Investors will likely be looking at how attractive your business will be to large companies. If you think that your innovative tour company will make an appealing acquisition target for a large tourism group, the MIST selection committee will want to know. If your travel tech works can be paired with AirBnB or American Express, you need to say.
For more information and guidance, including advice on how to put together a pitch deck that will propel your application, download our complete guide: