There is such a thing as too early. The valuation for the 8% equity here really bites.. you're getting smaller investment than a top tier accelerator and you're going through that 'accelerator' at such an early point in the product that your next step is likely another accelerator. I get that these programs can have value, but the likely outcome is messing up your cap table. It also is a bit awkward to start a start-up when your personal finances don't give you months of living expenses -- this seems like a recipe for large # of failures and taking bad money when you're too early for good money.