Will Startup Weekend lose its noble image?

Will Startup Weekend lose its noble image?

Last month, Techstars announced it had acquired Up Global, the non-profit umbrella of Startup Weekend, Startup Next, Startup Week and Startup Digest. Up Global was founded 2 years ago to extend Startup Weekend’s reach internationally, and is now present in over 100 countries.

I have been a mentor and judge at several Startup Weekends, including a memorable experience in San Pedro Sula Honduras. I truly enjoy the opportunity to work with the participants; helping them very quickly mold an idea into something they can execute on. Some of the projects are quirky or outrageous, but many have real potential. I have given my time freely to these events, and continue to do so with a handful of teams that I continue to mentor.

The fuel behind the Startup Weekend concept is a win-win experience for everyone involved. The entrepreneur gets an amazing learning opportunity, meets interesting people and has fun along the way. The organizing entity, whether a University, business incubator, government entity or something else, gets exposure, an opportunity to interact with their community and most importantly a way to draw potential entrepreneurs out of their garages and into their space. Sponsors and mentors get the warm, fuzzy feelings that comes with supporting a community event and helping entrepreneurs realize their dream.

However, as Startup Weekend transitions to its new for-profit status under Techstars, will the idea of someone profiting out of so many people’s donated time and effort mar the institutions image? Although this merger has not received a lot of press, there are several important issues to consider that will affect organizers, participants and supporters.

Will the communities continue to support Startup Weekend with their time and resources? Startup Weekend’s model has been rooted in the “give first” spirit coined by Brad Feld. Dozens of people come together to make the event happen, giving their time, the venue, food and even beer. But adding profit to the mix could change the dynamic. Recruiting volunteers, getting the corporate sponsorship and in kind donations are much easier when there is an altruistic purpose. The perception that someone profits from his or her gift could make gaining support more difficult.

Will Techstars cherry-pick the winners? To be sure, there is a need for support for the good projects that come out of the program. As I mentioned, I have continued to mentor companies long after a Startup Weekend has ended, even thought that was never an expectation from the organizers who asked me to participate. However good projects do develop in the 96 hours, and they should be given as much support as necessary. Currently, that support often comes from locally based business incubators or accelerators. Some Startup Weekends build working with them into the awards for the top rated teams. But with Techstars in the mix will they fear Techstars will take the best teams? Last month TechCrunch quoted David Cohen, a Techstars partner saying “We want to help entrepreneurs through the whole journey, from idea to IPO.” So clearly gaining access to the early stage participants in part of the Techstars strategy. Where does that leave other programs that in the past have provided participants that ongoing support?

Will the friendly competition turn cutthroat? In particular I worry about raising the stakes for entrepreneurs that participate in a Startup Weekend. As it is right now, the skin in the game for participants is a weekend of their time and their registration fee. There is an awareness that a winner will be chosen who gets some sort of prize, but usually that prize is merely meant to motivating participants for a couple of days. When you throw Techstars into the mix, does the expectation of getting funding and joining the accelerator program turn the once friendly competition into a knock down drag out fight to the finish? And for those promising teams that Techstars does not pick up, I hope they are still encouraged by the Startup Weekend experience rather than leaving demotivated for not being chosen.

Finding support for Startup Weekends has gotten easier over the years, the event is now well known and so are its outcomes. However as it transitions to becoming a for profit entity, organizers will face new challenges in getting the stakeholder and community support that has made Startup Weekend successful so far. To be fair, Startup Weekends are not moneymaking events. It is the potential volunteers, supporters and participants perception of gain that could affect the program’s dynamic.

Startup weekend has been around for 8 years, that might be enough time for the institution to have cemented its image and brand enough to overcome its shift into the for-profit world. It has already impacted positively entrepreneurs all over the world. Lets hope that this transition turns out to be just a ripple in the entrepreneurship support ocean.