HN Explorer

Should I apply to Pioneer app?

9 points by ChrisCXS ↗ HN
Hi guys,

I am thinking to register for the Pioneer app tournament but before doing so I thought to reach out and perhaps hear your thoughts and whether you had experience with the platform.

I think that I pretty much understand the game (although not the ranking system) but there are still some things that are not clear to me.

For example, the website shows this:

Pioneer Gold: Get $20,000 in exchange for 5% of your company. Pioneer Platinum: $100,000 in exchange for 5% of your company. Pioneer 1M: $1M in exchange for 10% of your company.

How does it work exactly?

Thanks a lot and have a great week!

Chris,

9 comments

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rememberlenny
You should. Don't over think it. By participating, you get the following:

1. A good feedback mechanism on what you are working on.

2. Social pressure to increase motivation.

3. Time box yourself to accelerate production.

You get these things just by participating. If you win the game and reach a funding opportunity, you can ask yourself the next question. For now, just being able to produce and benefit from those three things are invaluable.

And it's free.

ChrisCXS
Thank you so much for the reply, I am really trying to look for the down sides but it seems like all feedback is positive! To my understanding, all graduates need to establish a U.S legal entity (C Corp / LLC)..they offer a free company incorporation package via Stripe Atlas. But If I have just founded my startup (in say Amsterdam) and long way from even thinking about the U.S market..what´s the logic here? Thanks again!
rocauc
Yes, I'd recommend it. Pioneer gamifies your To-Do list, keeping you accountable and increasing your output. There's little downside to trying it out.

I think there's been a fair number of Pioneer projects that go onto YC, too

ChrisCXS
Thanks for the reply Rocauc! Where you please with the gamification approach? As I read some negative feedback online regarding the transparency of the voting process. Thanks, Chris
azeem147
You should. It was a game-changing experience for me. You will get a lot of support and help. Weekly updates and feedback on your updates will keep you on track. You can meet a lot of smart people on weekly calls.

For me, it is a game-changing experience. You should not worry about the funding opportunities right now. They are not obligatory, even if you win the tournament.

ChrisCXS
Hi Azeem, thanks! What progress where you able to make in terms of product and market validation during the program? May I ask if you are based in the U.S or abroad? If so, was the process of establishing a U.S subsidiary complex? Thanks!
chenxi9649
Definitely recommend it, I can't think of any downsides for doing it. The time commitment is quite low, you just update your progress and if you'd like, vote for other players. Voting exposes you to what other players are doing. At the bare minimal, Pioneer is a great way for you to track and reflect upon your progress.

Once you become a Pioneer, the Pioneer community allows you to meet a lot of other creators who are like minded.

ChrisCXS
Thanks for the reply Chenxi! Indeed, sounds very promising indeed. Are you still active in the Pioneer community, even post program? And also, do you know why is it mandatory to establish a U.S legal entity if you are based in Europe?

Have a great weekend!