How did going through an incubator help your company? Any good advice?

Question

I live in Maui and there is something called Blue Startups here with a deadline of late July. It's similar to YC but based in Honolulu, there is a week in SF involved at the end.I'm a solo founder, for now. I will change this when the time is right but for now, it's best to work solo and keep overhead low.Applying to Blue Startups makes sense to me because of the strategic possibilities for a travel app connecting Asia and the Americas.Just thought I'd ask here before putting time into my application and making sure my demo is solid.

caruizdiaz · Accepted Answer

From the context of a technical founder:
If you have zero experience running a business from an operational standpoint, i.e., incorporation, accounting, taxes, contracts, then an accelerator can offer valuable help so that you can have "one less thing" to worry about.
Apart from that, the most important thing is the terms of the deal they'll make with you. For example and as a general rule of thumb, more than 10% of your company for less than $100k is something you should reconsider, especially if you are in the US.
The reputation of the accelerator is also important. YC, 500, Techstars, AngelPad are all renowned brands. Study their portfolio companies to understand what their investment thesis and success rate are.
In general, my opinion is that getting into an accelerator can be very valuable for first time founders and if the deal they offer is good, and their track record compelling, I would do it.