🧁 Baker’s debrief #3: decoding the startup ecosystem, from maps to the inside scoop
#bakersdebrief
We recently wrapped a two-part series on decoding the startup ecosystem, hosted in collaboration with EchoHer.
Part I was a guided session walking founders through the different players in the early-stage space — from VCs and angel syndicates to accelerators, incubators, venture studios, and corporate perks programs. We dug into when and why each might make sense, the differences in what they offer (and what they take), and how accelerators compare across styles.
Part II brought in the founder voices. A panel of builders — all women who had gone through different programs like YC, SkyDeck, Founders Inc., and StarX — shared how they chose their paths, what the process was really like, and what they'd do differently today.
Here’s the short stack of takeaways, in case you missed it:
🥖 not all equity is baked the same
We mapped out which players take equity and which don’t — and why.
VCs and angels invest capital with the expectation of long-term returns.
Accelerators combine capital with programming, intros, and mentorship — but often at lower valuations (sweat equity counts too).
Venture studios go even deeper, acting as institutional co-founders with full teams that help build from zero.
Meanwhile, tech giant perks programs (like AWS Activate or Google for Startups) and fellowships (like On Deck or university-affiliated ones) offer equity-free resources, typically in exchange for brand loyalty or long-term partnership potential.
🪞 founder-product fit is as important as product-market fit
Before you even look at accelerators or raise money, ask:
Do you need speed or space? Are you solving a problem you care enough to live with for the next 3–5 years? Do you want venture growth or venture freedom?
🚀 acceleration comes in different flavors
Some programs move fast and hype hard (YC, 500 Global), while others are more curated, mentorship-driven, and tied to research or global networks (SkyDeck, Alchemist).
Quick comparisons:
YC: Fast, large batches, strong fundraising signal. Best for technical or young founders with MVPs.
SkyDeck: Smaller, deeper, more tailored. Strongest for deep tech and global teams.
Founders Inc.: Community-centric with strong emphasis on personal brand and visibility.
StartX: Non-dilutive, referral-based, founder-led. Strong peer network but less structured.
🎙️ behind the demo day curtain
Yes, demo day can help — but many founders raise before it. Several panelists shared that most of the real traction came from pre-demo intros or referrals within the program. YC, for instance, has a built-in FOMO loop that accelerates funding. SkyDeck runs a month-long investor matching process before demo day even hits. Founders Inc. was more mixed — high on energy, lighter on checks.
💬 from founders, for future founders
To close the panel, we asked each speaker what advice they’d offer to someone just getting started. Their answers didn’t center on pitch decks or traction metrics — they centered on mindset, health, and self-awareness.
Here’s what came out of the oven:
Know why you're doing this. Not because it looks cool on Twitter, but because you're deeply driven by the problem. That reason will carry you through the 80% pain before the flywheel turns.
Don’t skip the “product-founder fit” check. Ask if you’re the right one to build this, and whether it’s a journey you truly want to commit to for the next few years.
Support systems aren’t optional. Make sure your friends, family, or community know what you're stepping into. You’ll need them.
Health isn’t a side quest. Founders talked about sunlight, sleep, water, and movement as the real compounding assets.
If you're bringing on co-founders, align on values first. Everything else can be figured out — this part can't.
Don’t build for the sake of building. Avoid getting swept up in the founder identity just for identity’s sake. Build because you can’t not.
Accelerators won’t fix what’s missing. But if you're clear on what you need — community, speed, investor intros, structured execution — they can help you grow faster in the direction you’re already headed.
“You’re building a company, but you’re also building a life. Make sure you’re proud of both.”
– Shared insight from the founder panel
🥣 final spoonful
In a world where AI makes it easier than ever to build, the harder question isn’t how to launch — but why, with whom, and what pace makes sense for you.
As we said in Part I:
“Not every AI project needs a term sheet. Sometimes you just need time, taste, and traction.”
Freshly from the oven of the Baker-in-Chief at LeavenLab 🔥