Accelerators are the New King Makers

Often I am being asked as to how #acceleratorsbenefit startups with implementation and investment. People are still confused at times with respect to the functioning of accelerators.


For me, accelerators are just about two significant words,?
‘#Speed&Scale!’


Having a brilliant idea is not always enough to make a business successful. While an entrepreneur works on the basis of #passion, #dreams, and placing unique ideas on the table, even the #founders who excel in their core areas as well as have sufficient work experience and understanding of the market, require a ‘Godfather’ to sail them through the big, bad world of investing.
And,
Accelerators, as the name suggests, do the same or help the early-stage and growth-stage startups– Accelerate. They accelerate the understanding of a startup’s product, set them on a path of more visibility and, in some cases, raise follow-on rounds.


The startup journey can be rewarding and impactful, but many startups fail for a number of reasons: no product/market fit, lack of revenue and funding, team mismatch, poor marketing, premature scaling, and bad timing.
Finding the business opportunity and getting customers to pay for the product is not enough, the investors look for scalable businesses and innovation processes for the long term.


I believe #Entrepreneurship is complex because it requires “decision-making across all aspects of business activity”, under conditions of high uncertainty.
Accelerator programmes have emerged as one of the most powerful vehicles for helping entrepreneurs to learn rapidly, create powerful networks, raise money, build their startups, and do this at speed and scale.?


Below mentioned are a few of the ways through which #accelerators can forge the path to success for startups and help them conquer their business challenges.


Conducive Ecosystem for Growth


One of the most invaluable offerings of a seed accelerator to a startup is access to all the structured building blocks under one roof, such as mentorship, funds, technology and peripheral services in legal and financial aspects. In such a conducive ecosystem, a startup can pull through an overall financial cycle with the help of its mentors, who provide historical insights to avoid pitfalls.


De-risked Startup Beginnings


An accelerator tweaks a programme according to the startup so as to identify the innate risks to its growth in the product market in terms of fit and quality, recruiting, sales, marketing, competition and funding. It offers to curtail them, thus effectively de-risking the growth of startups and clearing the #roadtosuccess.


Facilitated Access to Clients and Investors


Startups often struggle to find clients and investors at the beginning of their journey, when it is most needed. In such instances, an accelerator can step in to offer their network to such key people. This helps startups to better understand the needs of their clients and customers; work on real-life business cases in accelerator programs; and get funds through forged contacts in the investment community.


Opportunities in Community Engagement Activities


The accelerator organises meaningful community engagement activities for budding startups, which helps them with recruiting, branding and improving their overall ecosystem. The foremost perk of working at a co-working space is that it becomes a platform to discuss ideas, concerns and requirements with the like-minded fellow entrepreneurs. It enhances the experience at work and also helps to build a robust team.


Inroads into a Global Network


For startups seeking to go global, an accelerator can also help them leverage their widespread community of peers throughout the world, known for their expertise, experience and contribution, as well as strategic support, human and financial capital and unparalleled networking. They can enter the real-world with a strong foothold, well connected.


On a concluding note, starting a business can be challenging but if you look at the right places for support, the journey becomes easier and the results will be prominent.?


Keep watching the space for more of such insights.?