Startups are creative ventures which have a distinct promise to integrate the most up-to-date technology that aims at accomplishing something new in a market that is not yet been met. Although the idea of developing and establishing a startup is very attractive and the sphere is developing fast, the process of creating a startup and making it continue its existence is not that easy, as it implies taking risks, withstanding challenges, and struggling in a dynamic and rapidly changing environment. To facilitate the development and expansion of the business of startups, it has startup accelerators, which play a key role in building a strong startup through accelerator programs by providing mentorship, resources, and access to funding.
A group of organizations that provide intensive and customized support program founded on mentoring, training, networking, and financing. Now we define these concepts: what startup accelerators are and how they operate, what their systemic types are, what the benefits are of startup accelerators and what the distinction is between a startup accelerator and an incubator. A startup accelerator will be an organization that chooses a number of startups.
What is a startup accelerator?
With a high degree of growth potential and proposes an acceleration program to them. In particular, it is a short-term (usually 3-6 months) program under the course of which the start-ups get an all-encompassing help to create and confirm their product or service, enhance their business model, gain customers, grow their income, and prove sources of finances. Such accelerators of startups typically include a team of experts, mentors, investors, and partners which offer their experience, knowledge, and connections to the startups they assist. Moreover, they usually possess a physical.
Location within which the startups can operate and get experiences with other firms in the same field or connected lines of businesses. In other cases, they would demand a share of capital of the start-ups in lieu of their services; this is normally calculated as a share of 5 to 15 percent of the start-ups share capital. With so, startup accelerators turn into strategic partners of the startups and enjoy in their success further.
Choose your start up accelerator program
Application They make an open call to all the startups, which can be based on the stage of maturity, industry, and market, team, et cetera. The start-ups, that are interested in the program, are asked to apply revealing their application, typically the application form, a video, a pitch deck, or the prototype of the product or a service offered. Selection: they review the applications made and choose the ones they find most appropriate to their acceleration program considering such criteria as innovation, scalability, impact, the team, etc. Acceleration: the acceleration program will typically take 3-6 months.
first of which will include the training activities, mentoring, workshops, events, and meetings. The aim is to help the startups with product development and product or service validation, enhance the business models, acquire customers, augment revenue and find sources of financing. Demo Day: this is the point when the startups introduce their projects to the audience that includes investors, media, potential clients, and partners. The aim here is to illustrate the outcomes.
Apply for an accelerator program
Made and create interest to get funding and to have strategic partnerships. That is why this Demo Day is not the end of the acceleration program, but rather its finale. Accelerators always continue communicating and assisting the graduated startups on a long-term basis. These are the ones that do not target the particular areas or markets, but are open to the startups, of any field, provided they match the terms at the level of innovation, scale and growth opportunities. It is so with Y Combinator, Techstars, or 500 Startups. These, contrarily, are concerned with a certain field or market area.
Health, education, tourism, energy. That is how they will be able to provide more individualized assistance depending on the demands and features of every industry. This is what happened in Rockstart, Startupbootcamp, Plug and Play or Numa. Finally, there exist startup accelerators, which rely on the organisation of the administration (a city council, an autonomous community, a ministry, or a university). Their common objective is to bring out entrepreneurship, innovation, economic and social development of a region or a sector of strategic interest. This model can be expressed as Lanzadera.
Conclusion
Barcelona Activa, EOI or CDTI. Those which are part of a private institution (of a company, a foundation, an association, or a bank) in order to facilitate open innovation, digital transformation, social responsibility, or innovation in new businesses. It is so in Santander Impulsa Empresa. They do so, by ensuring they provide them with an intensive and customized acceleration program that is able to enable them to develop, test and validate their products or services, enhance their business models, attract customers, sell more and obtain sources of funding. In its turn, a team of experts, mentors.
Investors, and partners that introduce their experience, knowledge and contacts to the startups under the acceleration is also very helpful. They provide advice to the startups both technically and strategically by mentoring, workshops, and all types of trainings. This consultation tends to be oriented towards the solution of particular problems of a certain domain of the business (product development, advertising, selling, financing, or the legal, tax, or labor fields). They provide a fantastic boost to startups to grow the network. They offer the access to the society of businessmen, entrepreneurs, trainers, financers, customers, associates, and even media.