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Accelerator programmes - the basic information that you need
by Startacus Admin
Are you considering taking part in an accelerator programme? We take a look at some of the basic information that you need.
Accelerator Programmes may have been responsible for some of the companies we know and love today - Dropbox and Reddit to name but two - but does that mean they would work for you and your startup? Well...quite possibly. The key thing is to do a little research on the programme you are interested in, who its’ former clients are, what it could potentially offer you and how your startup could benefit.
If you are considering going down the Accelerator Programme route, here are a few of the basics you ought to know:
On the whole, most Accelerator Programmes follow a pretty tried and tested format:
- They run for a set pre-determined time period, which can be anything from 13 weeks to a year in length - They offer attendees or ‘clients’ an intensive programme of support, mentoring and advice - They provide startups with introductions and networking opportunities with leading investors, funders and business mentors - They facilitate the development, progression and shaping of an idea, product or service - They frequently provide seed investment in return for business equity
Benefits of participating include:
- a ‘hot-house’ environment to help your startup idea or product grow - dedicated support, advice and guidance from ‘experts’ - direct links with investors and funders who could add that always welcome cash injection to your business - raising of your business’ profile and strengthening of your brand
Despite these general benefits, it’s important to define what’s important to you before you apply for any accelerator programme. After all, each one has its’ own set of Terms and Conditions which are legally binding, so make sure that there are no hidden stipulations or restrictions which could have a detrimental impact on your startup. There’s no doubt that for some startup founders, joining an accelerator program has been the best decision they ever made. Could the same apply to you? Only research, time and lots of hard work will tell...
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