FAQs

Answers to all BETA Cohort questions here.

Frequently Asked Questions

Find answers to all your BETA Cohort questions here!

What is an incubator vs. an accelerator?

Incubators and accelerators are similar in that they both help startups get off the ground and build strong foundations, but they do so in different ways.

Incubators offer ongoing support, coaching, and connections, usually in a co-working space. Accelerators tend to be more structured programs for a certain length of time, and almost always involve an application process.

Another way to distinguish them is in the names — incubators focus on innovation, and “incubating” ideas, while accelerators focus on scaling or “accelerating” the business.

BETA is an accelerator: a five-month, free, non-dilutive (we do not invest in turn for equity) structured program with sessions, workshops, and mentorship.

What constitutes a minimum viable product?

A minimum viable product (MVP) needs to consist of enough features for the first users to give feedback, and validate the product idea early in development. It’s helpful for a product team to receive feedback as early on as possible, so they can improve and iterate.

For the purpose of the BETA Cohort, startups need to have something to present at Showcase. The BETA Showcase is an opportunity for startups to demo their product or service to hundreds of MN tech enthusiasts, investors, members of the media, and more.

What does it mean to be technology-based and scalable? One of the main criteria for the BETA Cohort is a MVP (minimum viable product), meaning you have to be past the “idea stage,” and have something tangible to present at Showcase. For example, if you have an idea for an app that helps people find jobs, but don’t have the app built yet, you would still be in the idea stage and not quite ready for the BETA Cohort.

What other incubators and accelerators are there in Minnesota?

gBETA
gener8tor
Lunar Startups
Techstars

Farm to Fork
United HealthCare Accelerator
Minnesota Twins

FINNOVATION Lab
MNCup
OnRamp Education & Workforce Innovation Accelerator

Our partners at tech.mn put together a comprehensive list — check it out here.

What do I do if I don’t make it in the cohort? If we don’t accept your company, ask why! Our Entrepreneur in Residence, Cihan Behlivan, is always happy to provide constructive feedback. Another thing to note, is that many BETA companies are accepted on their second or third application, so it never hurts to apply to the next round if you don’t get into one.

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