Using Science to build, acquire, and fund startups

TL;DR

Science Inc is a startup accelerator and incubator based in Santa Monica, CA, focused on helping entrepreneurs build and grow their companies. They place a heavy emphasis on achieving rapid growth and have expertise in various areas including marketplaces, brands, mobile, and social.

Transcript

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Key Insights

• 💯 Building a platform for growth is a core focus for Science Inc, as they believe it is essential for startup success.
• 🥇 The company places a heavy emphasis on understanding growth channels and becoming experts in them. They believe that going deep in a specific channel yields better results than spreading resources too thin.
• 🤘 Net Promoter Score is an important metric for Science Inc, as it indicates customer satisfaction and the likelihood of referrals. A strong NPS can be a sign of potential growth.

Questions & Answers

Q: How does Science Inc differentiate itself from traditional accelerators like Y Combinator or Techstars?

Science Inc takes a more operational approach, providing entrepreneurs with resources and support beyond just mentorship and funding. They have their own design and engineering teams, and can also help with customer acquisition and growth strategies.

Q: How do they determine the terms of their investments?

Science Inc does not have a standard deal structure, as they work with companies at various stages. They may take a minority or majority stake, or even acquire a company completely. The terms are determined based on the specific needs and goals of the company.

Q: What led Science Inc to acquire Delicious?

The acquisition of Delicious was driven by the platform's strong community and historical user base. Science Inc saw potential in leveraging the platform for mobile and content services, and believed it would be a valuable addition to their portfolio.

Q: What were some of the challenges that Science Inc faced with their own startups, such as Color?

Color faced challenges in finding product-market fit and executing on their vision. This experience taught Science Inc the importance of having a great product that people love, and the need to focus on growth from the early stages.

Summary & Key Takeaways

• Science Inc was founded with the goal of creating a platform where they can build, invest in, and acquire companies. They provide entrepreneurs with access to their operational team, which includes design, engineering, and customer acquisition resources.

• The company has worked with around 40 companies, ranging from early-stage startups to more mature businesses.

• They have had success in growing companies like Dollar Shave Club and DogVacay, and have also made acquisitions like Delicious.