Just got into this program, do you guys know what the program’s acceptance rate might be and how useful of a program it is?
Congratulations on your acceptance! I attended the camp last year as a member of Session 1. With regard to the camp’s prestige, I have heard a variety of answers on what the acceptance rate might be. If I were to give a guess, probably around 50%, since the more competitive applicants interested in start-ups tend to apply for LaunchX.
Touching on the student experience, last year the camp was held in-person, so I’m not entirely sure how that might differ compared to this year’s incubator. As for what it was like the year I attended, the in-person sessions at SF, Chicago, and NYC are incredibly intense and very informative. I remember feeling drained at the end of each day and frequently staying up late especially in the lead-up to Demo Day. However, these days were incredibly satisfying and quite memorable. The in-person days were also when I built friendships and a sense of camaraderie with fellow attendees - some of whom I am in contact with to this day.
However, your experience during the remote weeks depends a lot on the relationship your group built during the first week. If your group clicked and built a strong sense of camaraderie, then the remote weeks will likely be somewhat productive - I think the average member in my group spent about 2-3 hours a day on our company during this time. If your group didn’t develop that immediate sense of chemistry, then your remote weeks will be a day-and-night experience compared to the in-person days. I know some groups in my cohort hardly did anything - with some people I know not doing anything at all during their time away.
Overall, it’s a very memorable experience and one that will allow you to really feel what it’s like to be an entrepreneur stepping into the world of start-ups. After the program, you’ll have a pretty good grasp of whether or not starting a company is for you. One of my friends after the camp told me with some resolution that he would never work on a start-up again. For others, this might be the first step in a future filled with innovation and entrepreneurship - I know that Catapult has had alumni even appear on shows like Shark Tank. The program is what you make out of it. If you’re willing to grind and spend your summer really making something, you’ll take away an experience and friends that last far beyond anything you’ve built during the program.