Berkeley SkyDeck Batch 22

History and Founding Story

Berkeley SkyDeck, established in 2012, has rapidly ascended to become one of the top global accelerators. As a program deeply embedded within UC Berkeley, it leverages the university's vast resources, intellectual capital, and extensive alumni network to foster innovation and entrepreneurship. SkyDeck's journey has been marked by a commitment to making it the best accelerator for startups, providing a launchpad for visionary founders from around the world.

Mission and Values

SkyDeck's core mission is to empower early-stage startups by providing them with the essential tools, connections, and capital needed to scale. A significant value proposition is its commitment to Diversity, Equity, & Inclusion (DEI). Since launching a DEI committee in 2018, SkyDeck has actively worked to increase the representation of female founders and historically-overlooked founders, offering specialized workshops and networking opportunities to support a broad range of backgrounds. This dedication ensures equitable access to its resources and programming.

Program Structure and Timeline

SkyDeck operates on a biannual cohort model, selecting roughly 20 startups every six months. The program culminates in a highly anticipated Demo Day, where participating startups pitch to a network of investors. While the specific duration in weeks isn't explicitly stated, the six-month cycle suggests an intensive, structured program designed for rapid growth. Startups engage in the Berkeley Acceleration Method (BAM), a series of curated workshops led by expert advisors covering all aspects of launching and growing a startup. Additionally, SkyDeck offers specialized tracks for deeply technical startups, recognizing the unique needs of these ventures.

Mentorship and Network

One of SkyDeck's most distinctive features is its unparalleled network. Startups gain access to over 900 advisors and mentors who provide coaching on everything from product development and customer acquisition to go-to-market strategies and fundraising. This network extends to 500,000 Berkeley Alumni, facilitating introductions to top-tier VCs and investors, including GPs from funds like Sequoia, a16z, and Index. The program also connects startups with UC Berkeley's intellectual firepower, matching students, MBAs, postdocs, and faculty to roles within the startups or advisory boards.

Investment Terms

Startups selected for SkyDeck's Cohort program receive a significant $200,000 investment from the Berkeley SkyDeck Fund. In exchange for this capital, SkyDeck takes 7.5% equity in the participating companies.

What Makes it Unique

SkyDeck's uniqueness stems from its direct affiliation with UC Berkeley, offering unparalleled access to academic resources, talent, and a vast alumni network. The program's global reach, with about half of past cohorts founded outside the US, and its strong commitment to DEI set it apart. The emphasis on customer development, facilitated through relationships with hundreds of businesses and enterprises, provides startups with crucial early adoption opportunities. Furthermore, the intimate fireside chats with leading venture capitalists offer invaluable insights and connections.

Notable Outcomes

Since its inception, SkyDeck has demonstrated impressive results. SkyTeams have collectively raised $2.7 billion in funding. The program boasts 25 Series A and B rounds raised and 17 exits through acquisitions. Demo Day attracts over 1000 attendees, highlighting the program's visibility and success in connecting startups with investors.

What Participants Can Expect Day-to-Day

Participants can expect an immersive and demanding experience. Days will likely involve attending BAM workshops, engaging in one-on-one sessions with mentors and advisors, developing their product, refining their go-to-market strategies, and networking with investors and industry partners. There will be opportunities to connect with UC Berkeley talent for internships or advisory roles. The program fosters a collaborative environment, providing a home base for startups to launch and thrive in Silicon Valley.