{"id":11503,"date":"2022-04-07T18:02:49","date_gmt":"2022-04-07T15:02:49","guid":{"rendered":"https:\/\/ucluster.org\/?p=11503"},"modified":"2022-08-25T16:29:05","modified_gmt":"2022-08-25T13:29:05","slug":"business-accelerator-feelgoodlabs-how-to-enter-the-us-market","status":"publish","type":"post","link":"https:\/\/ucluster.org\/en\/blog\/2022\/04\/business-accelerator-feelgoodlabs-how-to-enter-the-us-market\/","title":{"rendered":"Business accelerator FeelGoodLabs: how to enter the US market?"},"content":{"rendered":"\n

\u201cThe US market is undoubtedly huge and ruthlessly capitalist. You can have even a raw product to establish yourself here, but only if it has obvious advantages over existing solutions. This way, you will always find your client and be able to earn more than you spend\u201d<\/strong><\/em>, \u4e00 says Serhii Dovhopolyi, the founder of the accelerator FeelGoodLabs. However, becoming a part of the US market is the primary goal of many Ukrainian startups. But how do you accomplish it, and what do you have to prepare for?<\/strong><\/p>\n\n\n\n

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\"Feelgoodlabs-logo\"<\/figure><\/div>\n\n\n\n
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Founder: Serhii Dovhopolyi<\/a><\/em><\/p>\n\n\n\n

Location: Kyiv (Ukraine)<\/em><\/p>\n\n\n\n

Founded: 2014<\/em><\/p>\n\n\n\n

LinkedIn<\/a> \/ Facebook<\/a> \/ Twitter<\/a> \/ YouTube<\/a><\/em><\/p>\n\n\n\n

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The accelerator and its founder<\/h2>\n\n\n\n
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Serhii Dovhopolyi is not only the founder but also the author of many acceleration programs within the project. He calls himself an evangelist with alternative education. Serhii started his career in the digital business in 2006. Two years in, he earned his first million. Now he owns several digital companies, is a commercial director and board member of Delfast, and is a partner at the Inventure Investment Group. Serhii works and lives in the USA, but he is also actively involved in developing the Ukrainian IT industry. Serhii Dovhopolyi also acts as a business consultant, mentor, and lecturer in training courses.<\/p>\n\n\n\n

\u201cI enjoyed communication with entrepreneurs throughout my life,\u201d says Dovhopolyi. \u2012 \u201c<\/strong><\/em>My life experience is formed from a lot of time spent consulting and talking about new markets. Then, a few months later, these people would thank me for helping to grow their business. I always have an inner urge and passion for helping someone reach the top, to be a part of it.\u201d<\/strong><\/em><\/p><\/blockquote>\n\n\n\n

In 2014, Serhii started his work on creating a private business accelerator FeelGoodLabs. Initially, the company was based in Dnipro, but 2 years later, it moved to Kyiv.<\/p>\n\n\n\n

Now the FeelGoodLabs accelerator offers startups a permanent support program based on practical work with experts. The program\u2019s purpose is to determine individual goals and then \u2012 test and implement them. The focus is on startups that seek further development and eventual scaling.<\/p>\n\n\n\n

The program consists of 20 classes for 80 hours. The whole training course lasts 10 weeks, all classes are online.<\/p>\n\n\n\n

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\"Serhii
Serhii Dovhopolyi, the founder of the accelerator FeelGoodLabs.<\/em><\/figcaption><\/figure>\n\n\n\n
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During the course, startups follow the path from testing hypotheses to sales. Interactions with mentors \u2012 successful business practitioners \u2012 help determine the market value of a startup product. In addition, the FeelGoodLabs accelerator has powerful networking. Thanks to this, every project can find potential customers, partners, and investors as soon as entering the training period.<\/p>\n\n\n\n

\u201cWe help find investments. Usually, we choose one project from each cycle and invest our own funds in it. For projects that show traction and can be objectively interesting, we promote them to our networking to attract investment and find alternative funding. Many startups we worked with eventually received grants\u201d<\/em><\/strong>,<\/p>\u4e00 shares Serhii Dovhopolyi.<\/cite><\/blockquote>\n\n\n\n

It\u2019s worth noting that the accelerator courses aren\u2019t free. Usually, startup founders initially have to invest their own money in the creation and development of the project. However, according to Serhii Dovhopolyi, there always are beginners who expect to receive external financial support without making their own effort. A position like that speaks of not that serious intentions of the entrepreneur. These partners tend to show they might not be reliable and hardworking enough. The money paid for participation in the training program covers administrative costs and goes to the paychecks for mentors and curators.<\/p>\n\n\n\n

According to the site, training at FeelGoodLabs costs much less than the thousands of mistakes made by beginners.<\/p>\n\n\n\n

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Acceleration during the war<\/h2>\n\n\n\n
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Even though the war had been going on for 8 years in some territories, the full-scale invasion of the Russian army was a real shock to all Ukrainians. There\u2019s no way anyone could be prepared for that. This is mainly why most companies and industries got their large number of projects frozen. Still, the business must go on, although it takes time to explore the new reality and adjust. The FeelGoodLabs accelerator is also working on this. Since it\u2019s impossible to conduct high-speed acceleration programs in the thick of war actions, they were temporarily suspended until quieter times. <\/p>\n\n\n\n

According to Serhii Dovhopolyi, FeelGoodLabs most likely won\u2019t return to normal next month. And yet, shortly, a unique acceleration program will be launched \u2012 based on survey data from Ukrainian IT entrepreneurs.<\/p>\n\n\n\n

Still, the FeelGoodLabs team doesn\u2019t waste time being idle. \u201cThe accelerator team is now focused on helping Ukrainian Armed Forces and our fellow citizens. We help with evacuation from warzone area to the countries of the European Union; also we buy equipment for the military and humanitarian aid, etc.\u201d<\/strong><\/em> \u4e00 Dovhopolyi comments.<\/p>\n\n\n\n

Despite the struggle of the war and volunteer impulses, Serhii advises startups and IT entrepreneurs to not forget about their businesses. \u201cIf you aren\u2019t defending Ukraine with machine guns, working is your best option. Work even harder and more\u201d, <\/strong><\/em>\u2014 motivates Serhii Dovhopolyi. In his opinion, sanctions against Russia open up many new opportunities for Ukrainian IT specialists. <\/p>\n\n\n\n

\u201cThe war will end sooner or later (better sooner, of course). After that, a large-scale rebuilding of Ukraine will begin. Many russian products that worked for our market will indeed be replaced \u2012 1C being a good example. Therefore, I advise you to work in this direction \u201d<\/strong><\/em>,<\/p>

\u2013 the businessman explains.<\/p><\/cite><\/blockquote>\n\n\n\n

Also worth noting that Ukraine now has robust support from Western countries. As a result \u2012 our business isn\u2019t left out of foreign partners\u2019 attention. Serhii Dovhopolyi believes that now our startups have much more chances and better grounds for entering foreign markets. \u201cIn the EU and the US, Ukrainians have the right to work and do business; our foreign friends and partners are now open to cooperation and eager to help. But you still have to build your business with your own hands; it\u2019s a no-brainer. At this point, the window of opportunity is open, but it must be entered as well. And regarding customers: now, the vast majority of foreigners fully support Ukrainians and are ready to buy from Ukrainian companies. But, again: the issue of production, logistics, etc., must be thought through on your own,\u201d<\/em><\/strong> \u2012 said Serhii.<\/p>\n\n\n\n

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When the war is over, who will be accepted into the program?<\/h2>\n\n\n\n
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Despite the paid basis, not everyone willing to enrol will have access to the FeelGoodLabs course. Only startups at the Pre-Seed stage can get into the program, but the main decision will be taken based on the quality of the team. \u201cThe team is the first thing we pay attention to how motivated it is, how well it understands its own actions, and how adaptive it is because everything is moving very fast in startups. After that, we evaluate how much the team is ready to invest in themselves,\u201d<\/em><\/strong> \u2012 explains Serhii.<\/p>\n\n\n\n

In addition, the accelerator founders are themselves looking for participants. In particular, Serhii regularly checks out projects interacting with the Ukrainian Startup Fund<\/a>.<\/p>\n\n\n\n

The activity of beginner startup creators is also essential. People who often get noticed and persistently promote their projects have some kind of bonus. Their relative popularity and activity indicate their high motivation. Partnerships with people like that are usually effective, and these people typically get a call.<\/p>\n\n\n\n

\u201cWe look at any new project and simply ask the founder: what has changed in the last half of the year? What is your trajectory for the future?\u201d<\/em><\/strong> \u4e00 Mr Dovhopolyi comments.<\/p>\n\n\n\n

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How to help Ukrainian refugees at the Medyka, Poland – Shehyni, Ukraine border crossing<\/a><\/blockquote>