Before accepting money from an incubator ask the program directors for 3 to 4 references of founders that have gone through the program and 3 to 4 references of advisors to the program.
Then call the references the program directors didn't give you. Do due diligence! Find out where the money comes from which founders, VCs, and Angels support the program and the reason for their support.
As someone who's gone through a "Ghetto Incubator" I'd suggest you do as much Due Diligence as possible before accepting money from a program because you're accepting their terms too!
Totally agree! I think it is also very important to get a real feel for the people that you will be working with. I think that a lot of people forget that these will be your "partners" for the life of the company. A poorly run incubator will have incompetent people running it. Ask yourself if you think these people could potentially be a pain in the ass in the future. As GCI mentioned: DO YOUR DUE DILIGENCE!!!!
Then call the references the program directors didn't give you. Do due diligence! Find out where the money comes from which founders, VCs, and Angels support the program and the reason for their support.
As someone who's gone through a "Ghetto Incubator" I'd suggest you do as much Due Diligence as possible before accepting money from a program because you're accepting their terms too!