accelerator program

Startup Accelerator Business Model, Everything You Need to Know About Accelerator Programs

accelerator program

Subtitle: What you Have to Know About Startup Accelerator Business Model

If you’re looking at a viable business model for your startup, I’m sure you’ve found out by now there are different choices with some fundamental differences. One of those choices that everyone fancies is a startup accelerator business model which provides everything a startup founder dreams of:

  • Financing
  • Education
  • Mentorship

All of it is condensed in a very limited time span, which makes this particular choice an intense experience. Despite all the buzz they receive, these seed accelerators (their other moniker as they support seed and early-stage startups) are not a great fit for every aspiring startup out there. 

Why? Let’s start with the basics:

What are accelerator programs?

One way would be to define them as hybrid models focused on the development of early-stage startups through mentorship, education, and support during a (typically) three-month period. In other words, tech startup accelerator programs “accelerate” the growth (hence the name) of an established business (one that already has a team, proof-of-concept, market validation, and so on) by providing everything necessary to scale. In exchange for the seed money they offer, they take equity in the business (some are non-profit). 

How do startup accelerators work?

First, there is a rigorous application process where the acceptance rate is only 1-2% for the more popular and established programs, while the percentage is just a teensy-weensy higher for the less prestigious accelerators.

Once accepted, a startup enters an accelerator on-site for a precisely defined/fixed period which is typically three months but can also be half a year. You also become part of a cohort of companies, which is another plus because a great deal of the connections you make during the process can turn into long-term, meaningful relationships – not to mention lead to potential funding-related introductions.

Because the accelerator experience is aimed at accelerating the life cycle of a young startup, it’s very intense and immersive with educational seminars and workshops, group and individual mentorship meetings, investor pitches, networking events, and everything else needed to fine-tune the product/service and business model. You are thrown into a highly compressed cycle that would usually take a few years so it’s vital to be able to focus, learn, and make progress at a rapid pace. 

Finally, the speedy learning-by-doing experience comes to an end with a ‘demo day’ – a business version of college graduation where startup founders present their business model. Each startup in the cohort gets an opportunity to publicly pitch to the investors and community, with the possibility of private and follow-up presentations. 

The entire startup accelerator structure is what makes all of this an enticing proposal. There are distinct collective elements that make this form of cultivating early-stage startups fairly unique: 

  • Fixed period
  • Cohort-based
  • Mentorship and education-driven
  • ‘Demo day’ exit

And with that, we reach the question that’s on every founder’s mind:

Are startup accelerators worth it?

With its ever-growing importance in startup communities across the globe, it’s easy to see why the startup accelerator business model is often perceived as the predominant way for scaling and securing funding from investors. While some programs actually provide limited funding or guarantee it in exchange for an equity stake, it’s important to note they aren’t suited for every startup. 

The thing is – they are not mandatory for building and growing a successful business. While not every program works in the same way, the high-pressure environment is one constant you’ll find in every accelerator. Arguably, not everyone is equipped both emotionally and cognitively to thrive under such conditions, which is a must in this case. 

There are plenty of alternatives where you can reap largely the same benefits without devoting yourself to the exhaustive pace of an accelerator. That being said, the truth is these programs have literally transformed promising businesses like Airbnb, Stripe, Dropbox, Udemy and many others into global companies. Plus, the value of accelerators is reflected by the fact that all parties involved (investors, startups, end users, even the economy) benefit from the intensive learning regime. 

Once more, I’ll reiterate: learning-by-doing is critical to scalability, and accelerators make a point to speed up that process by stuffing years’ worth of learning into a few months. As such, they are great opportunities to quickly grow early on but also to attract other investors. 

How do you know if your startup is ready?

Most accelerators follow a similar process so before you decide to apply for one, you need to ask yourself a few key things:

  • Are you in the right stage of development? If you’re growing quickly, have a minimum viable product (MVP) and some form of competitive advantage, you’re likely ready to go a step (or two) further.
  • Can you and your team move on-site for 3 to 6 months? In order to be admitted into the program (and take full advantage of it), you must be on-site, even fully relocate your startup in some cases. 
  • Are you able to dedicate yourselves 100% to your startup during that time? The majority of accelerators require a full-time effort from the entrepreneurial team
  • Can you thrive in a frenzied, highly demanding environment? Because not everyone is suited to handle learning organized in such a fashion, not everyone is coachable in the eyes of experts who lead the accelerator.

On a side note – do you know how to clearly articulate what you (c)are about? Paul Graham of YCombinator, probably the most successful startup accelerator around, says most of the applicants don’t present their startup concisely, poorly explaining what they do and ultimately, conveying little to no relevance and importance. There’s something to think about.

Final thoughts

The startup accelerator business model is designed with an aim to help entrepreneurs of all walks of life scale their business and make an impact. From verifying your idea or concept to validating the market to securing financing and everything in between, there are many benefits that, in the end, significantly improve a budding startup’s chances for success. 

Do note this: addressing these key issues doesn’t automatically make much of a difference as these programs can differ in their success. My advice to you is to take your time, evaluate both accelerators and other options, and think long and hard about your ability to fully commit. Understand both the value you’ll be receiving and gamble you’ll be making.

Successful Startup Accelerators

Learn From Successful Startup Accelerators, What Are the Do’s and Don’ts

“Why do startups accelerator fail?” Here we will learn from successful startup accelerators, what are the do’s and don’ts. 

So we identified the top 7 reasons startups fail so you don’t do. Since many startups offered multiple reasons for their failure, you’ll see that the chart highlighting the top reasons doesn’t add up to 100% (it far exceeds it).

Why do startups accelerator fail?


Following the chart is an explanation of each reason and relevant examples from the post-mortems.

There is certainly no survivorship bias here. But many very relevant lessons for anyone in the entrepreneurial ecosystem.

It’s worth noting that this type of data-driven analysis would not be possible without a number of founders being courageous enough to share stories of their startup’s demise with the world. So a big thank you to them.

1. Burned out/lacked passion

Work-life balance is not something that startup founders often get, so the risk of burning out is high. Burnout was given as a reason for failure 5% of the time. The ability to cut your losses where necessary and redirect your efforts when you see a dead end — or lack passion for a domain — was deemed important to succeeding and avoiding burnout, as was having a solid, diverse, and driven team so that responsibilities can be shared.

What can make conversations about burnout difficult, especially in Silicon Valley, is the widespread belief that building a successful company will always involve some degree of possibly hazardous overwork. As former Uber board member and CEO of Thrive Global Arianna Huffington puts it:

“The prevalent view of startup founders in Silicon Valley is a delusion that in order to succeed, in order to build a high-growth company, you need to burn out.”

Amid the pandemic, burnout became even more prevalent among tech workers: 68% of tech employees said they felt more burned out working from home, according to a survey by Blind.

Various founders have spoken up about how damaging burnout can be. Former Zenefits CEO Parker Conrad said,

“I think people are unprepared for how hard and awful it is going to be to start a company. I certainly was.”

2. Pivot gone bad

Pivots like Burbn to Instagram or ThePoint to Groupon can go extraordinarily well. Or they can start you down the wrong road.

As The Verge reported on Inboard Technology‘s failed pivot:


“The startup was one of the highest-profile competitors to top electric skateboard company Boosted, and last year announced plans to enter the electric scooter market — a push that seems to have doomed Inboard.

Founder (and now-former CEO) Ryan Evans told The Verge his team had locked down ‘a very large order’ from ‘one of the largest European scooter operators,’ which explains why the company quickly pivoted away from trying to sell its first e-scooter directly to consumers earlier this year. But Evans said the development timeline for Inboard’s e-scooter ‘outstretched’ its financial runway.”

After investors refused to inject more funds, the company was forced to shut down.

3. Disharmony among team/investors

Discord with a co-founder was a fatal issue for startup post-mortem companies. But acrimony isn’t limited to the founding team, and when things go bad with a board or investor, it can get ugly pretty quickly, as evidenced in the case of Hubba.

Douglas Soltys writes for BetaKit:

“Considered for most of the decade one of Toronto’s hottest startups, Hubba hit choppy waves in 2018, as the company lost its chief technology officer and chief marketing officer in an three-month span, in addition to two rounds of layoffs which saw headcount reduced by almost half.

It is unclear to what extent the COVID-19 pandemic had hampered Hubba’s growth and customer base. However, one source BetaKit spoke with claimed a months-long battle between [Hubba CEO and founder Ben] Zifkin and Hubba’s board of directors regarding the ongoing viability of the company.”

At Pellion Technologies, the end came more quietly, as its major backer Khosla Ventures lost faith in the company’s ability to execute:

“According to former employees, all of whom requested anonymity, Khosla Ventures lost confidence that Pellion could make enough money serving a niche market. The lithium-metal technology worked for products like drones, but the big money in the battery world is in the automotive sector. Investors weren’t willing to sink the money needed to develop the battery for electric vehicles.”

In March 2019, Khosla decided the company would be shut down and removed Pellion’s name from its online firm portfolio.

4. Poor product

Sometimes, it all comes down to the product — and a flawed one was enough to sink companies in 8% of cases.


According to a Forbes investigation into finance and accounting platform ScaleFactor

“ScaleFactor used aggressive sales tactics and prioritized chasing capital instead of building software that ultimately fell far short of what it promised, according to interviews with 15 former employees and executives. When customers fled, executives tried to obscure the real damage.”

Bad things also happen when you ignore what users want and need, whether consciously or accidentally.

Here’s what Shoes of Prey wrote about its vision to enable consumers to personalize their own shoes:

“We learnt the hard way that mass market customers don’t want to create, they want to be inspired and shown what to wear. They want to see the latest trends, what celebrities and Instagram influencers are wearing and they want to wear exactly that — both the style and the brand.”

5. Product mistimed

If you release your product too early, users may write it off as not good enough, and getting them back may be difficult if their first impression of you is negative. And if you release your product too late, you may have missed your window of opportunity in the market.

As Stefan Seltz-Axmacher, CEO of autonomous trucking tech startup Starsky Robotics said,

“Timing, more than anything else, is what I think is to blame for our unfortunate fate. Our approach, I still believe, was the right one but the space was too overwhelmed with the unmet promise of AI to focus on a practical solution. As those breakthroughs failed to appear, the downpour of investor interest became a drizzle.”

6. Not the right team

A diverse team with different skill sets was often cited as being critical to the success of a company. Failure post-mortems often lamented that “I wish we had a CTO from the start” or wished that the startup had “a founder that loved the business aspect of things.”

At Fieldbook, which shut down after failing to build a sustainable business model for its database product, co-founder Jason Crawford wrote in his post-mortem blog post that the company’s inability to make key hires was one of the reasons for its downfall:

“I was blindsided by the difficulty of hiring. Hiring was something I’d done successfully for years, including in the early days of Fieldbook and in a previous startup. But at a time when every engineer wanted to work on AI, self-driving cars or cryptocurrencies, a SaaS startup with modest, sporadic growth wasn’t very attractive. I knew that investors would need to see strong, consistent growth before our Series A, but I didn’t expect that engineers would need to see it to even join before Series A.”

Lack of experience, combined with mismanagement, was one of the factors behind the downfall of Katerra, the high-flying construction startup which raised nearly $1.5B in funding. As The Information summarizes,

7. Pricing/cost issues

Pricing is a dark art when it comes to startup success, and startup post-mortems highlight the difficulty in pricing a product high enough to eventually cover costs but low enough to bring in customers.

Hey Tiger struggled to find the right balance in its effort to produce high-quality chocolate and address inequities in the cocoa industry, writing,

“But like any start up, there comes a time when you need to take a hard look at the company’s long term viability. Although we designed a business that customers absolutely love, it proved hard to scale into the profitability it needed to be a sustainable social enterprise. As the scale of our chocolate production grew, so did the tensions between the very things that made Hey Tiger special. Ultimately while succeeding in one goal, we couldn’t make the other.”

The 2019 shutdown of genetic testing and scientific wellness startup Arivale came as a surprise to many partners and customers, but the reason behind the company’s failure was simple: the price of running the company was too high compared to the revenues it brought in.

And learning from the succesfull startup accelerator, those things 11 Tips for Succeeding in a Startup Accelerator

1. Be Open to Mentorship

Angela Ruth You’ll succeed in an accelerator program when you’re open to the advice of the experts running the program. Even if this means pivoting your startup or making significant changes to your business model, it’s important to listen and consider what these experts are telling you. They have the knowledge and experiences that can help ensure your idea becomes a sustainable business. –Angela Ruth, eCash

2. Befriend Others

 Rather than brushing off other companies in the program that you think have bad ideas or won’t be successful, you should befriend those founders. If their companies don’t end up working out, they’ll be looking around for new opportunities, and could be great resources for you and your company once hiring talent becomes your biggest problem (which tends to happen after accelerators). –Mattan Griffel, One Month

3. Focus on Progress
Julien PhamOne great advantage of an accelerator is the opportunity to have intense, focused attention on your company in a short period of time. No more call-backs, reschedules, and meetings months out. But you will also hear contradictory advice–lots of it. Take everything with a grain of salt, focus on building lasting relationships, and don’t forget to make time for actual progress. –Julien Pham, RubiconMD

4. Take Advantage
David CiccarelliKnow that your time at the accelerator will fly by, and you only have a brief period to make the most of the resources available to you. This means attending all the sessions and workshops; meet with your mentors and take them out for lunch to glean even more advice from them. In short, throw yourself into the entire experience. Soak it up while you can, because one day, it will be over. –David Ciccarelli, Voices.com

5. Do the Work

As with any mentorship, it’s important to dedicate yourself fully to the experience. If your program gives you assignments, be prepared to do the work. Attend any meetings fully prepared to ask targeted questions. Take coaching calls seriously by having a goal set for each session. Don’t over-invest yourself in anything else while enrolled in the program; make the time to make it work. –Nicole Munoz, Start Ranking Now

6. Check Your Ego

Zac Johnson It’s easy to think you know a lot about what you do, but this mentality can be a huge disadvantage. When participating in groups or accelerator programs, check your ego at the door and look at everything as a learning experience. As the saying goes, “If you’re the smartest person in the room, you’re in the wrong room.” Learn from others, participate as often as possible, and take notes! –Zac Johnson, How to Start a Blog


7. Build Your Network Aron Susman Tap into all the networking opportunities. Accelerators bring together the best minds across many different industries, so take advantage of the unique opportunity to connect with as many people as possible. With these new connections, you’ll be able to build relationships that can help your business, or even help you identify problems that have hindered others in the past. –Aron Susman, TheSquareFoot

Examples of Most Successful Startup Accelerator in the World

Global accelerators are fueling entrepreneurs and startups with supportive ecosystems and plenty of fresh funding.  These programs provide mentorship and capital in return for equity. This is put in place to help a start-up grow over a three to four month period.

Besides the investment, accelerators typically offer their startups free office space, business and management consulting, feedback on the product, and access to investors in the form of a demo day.

During demo days founders would present their pitch deck to an audience of angel investors as well as representatives from Venture Capital firms. For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel.

Staff from accelerator programs take into consideration many common themes when reviewing applications, such as addressing a large market, having a bold and crazy idea, showing some form of traction or signs that the company will be able to hit a milestone while in the program – but the most common, and debatably most important, is the team behind the company.

Getting into some of these programs is very difficult as acceptance rate can be as low as 1.5%. In such case, for every 7,000 applications there will be only 106 spots available. For comparison, Stanford has a 5.1% student acceptance rate and Harvard’s acceptance rate is around 5.9%. Rounding out the most active 20 accelerators are firms in Shenzhen, Sofia, Buenos Aires, New York, Brussels and Toronto. This shows that while Silicon Valley may be the most established VC and startup hub on the map, it now has an intense amount of competition from all types of locations around the globe.

Success Based on Number of Exits According to data from Crunchbase below are 10 accelerators based on successful number of exits.

1. Y Combinator

Y Combinator is a pioneer in the startup accelerator space. Each year the accelerator funds a group of new startups with $120k. A number that was lowered to reduce friction between founders. So far, the companies it has been involved with have a combined valuation of over $100B. Some of the most notable include: Airbnb, Dropbox, Stripe, Reddit, Twitch, Coinbase, and Weebly.

2. 500 Startups

500 Startups is a seed and early stage venture capital fund, consisting of 4 major funds and 13 micro funds which have invested in startups in at least 60 countries. Funded startups include Udemy and Credit Karma. Exits have included sales to Google and Rakuten. 500 Startups recently took in equity from Abu Dhabi Financial Group, giving the firm one of its only two board seats.

3. Techstars

Techstars funds, mentors and accelerates startups. Its accelerator program has produced over 1,000 companies valued at over $8B. Techstars is the name behind Startup Week and Startup Weekend, which spur entrepreneurs to kick procrastination to the curb and launch new ventures in a matter of hours.

4. Plug and Play

Plug and Play Ventures has put 51% of its investments into pre-seed ventures, achieved 8 exits in 2017, invested in 262 new startups last year and holds networking events every day. The accelerator’s in-house VC is reportedly willing to write checks from $25,000 to $500,000. It’s portfolio companies have raised a combined $7B.

5) MassChallenge

Although based in Boston, MassChallenge has accelerator programs around the world, with locations in Israel, the UK, Mexico and Switzerland. In the past 8 years the accelerator says its startups have created 80,000 jobs. The program appears to be heavy in Biotech and Fintech.

6) SOSV

SOSV closed its own third round of funding for $150M in January 2017.  The ‘accelerator VC’ started by Sean O’ Sullivan prides itself on creating real products, not just digital ones. With access to real labs and makerspaces it appears to be popular with food-tech and biotech startups.

7) Startupbootcamp

Startupbootcamp runs IOT, Fintech, Insurtech and Foodtech programs around the world from Singapore to London, Mexico City, Mumbai, Dublin, Dubai and Amsterdam. To date Startupbootcamp has accelerated startups with an average funding amount of 1.168M Euros.

8) Internet Initiatives Development Funds (IIDF)

IIDF is established by the Agency for Strategic Initiatives. It is a Russian venture capital fund. This accelerator invests in tech companies in the early stages of development. IIDF facilitates startups in Retail, Adtech, CyberSecurity, BigData, IoT, and Edutech, etc. Almost, every year more than 4,500 startups participate in IIDF’s online basic programs. There are also 20,000 online attending events and hackathons provided by IIDF. Internet Initiatives Development Funds have invested in 335 companies and their total number of successful exits is 21.

9) Wayra

Wayra is a global technology innovation hub. It was founded in 2011 in Latin America and then expanded in many countries. Wayra is financially supported by one of the largest telecommunication companies in the world called “Telefonica”.

Wayra invests around $50,000 in startups. Wayra also claims that 45% of its startups have female founders which is a good thing. Wayra invested in 960 companies and the total number of successful exits is 18.

10) Startup Chile

Start-Up Chile is a seed accelerator. It was created by the Chilean government in 2010. It is located in Santiago, Chile. Start-Up Chile provides equity-free investments to its qualified startups.

It is the most unique and active accelerator program worldwide. It provides almost $80,000 equity-free funds to its startups and $100,000 in perks.

Start-up Chile invested in 837 companies and the total number of successful exits is 16. The best of Start-Up Chile is that it provides pre-accelerator programs for startups led by female founders in the world. This program is called “The S Factory”.

Best Startup Accelerator in the World is trying to fuel up startups and entrepreneurs with plenty of funding and supportive ecosystems. These accelerators also provide mentorship and capital in return for equity. The mentorship continues for at least three to four months so that an entrepreneur or startup can get maximum support in taking their idea/business to the next level.

Accelerators not only invest in these startups/entrepreneurs, but they also provide them free office space, business and management consultancy, product feedback, and open access to different investors.

 Access to different investors can be in the form of one day demo. During the demo day, founders would present their pitch to investors and representatives from Venture Capital Firms. This demo includes a detailed presentation of the startups and how they are working hard to produce something big.

startup accelerators

Most Succesful Startup Accelerators in The World, What are They Doing Right

Nothing is easy at the beginning. There are processes and struggles but we can imitate from what is done and the lessons shared by successful Startup Accelerators in The World.

1. Solving real problems.

Spenser Skates, co-founder and CEO of Amplitude, says that the most important factor for a startup comes at the very beginning: figuring out exactly what problem your customers need you to solve.

In the early days of a startup, founders need to prioritize talking to potential customers and really understanding their problem so that they can help solve it. In fact, customer feedback has remained essential to Amplitude’s product development and company success.

2. Staying focused 

Will Canine, cofounder and CPO at Opentrons, has taken his company through two tech accelerators. The first was Hax, a hardware-focused accelerator based in Shenzhen, China. Then, Opentrons was accepted to Y Combinator, which is really what put the company on the launch pad.

“Probably our biggest learning that comes with it is focus. Having clear, concrete goals and a strategy for getting there keeps everyone in the company on the same page, working toward the same thing. “Once you feel the clarity of this type of focus–and see the huge advantages in productivity and progress it gives–you will never want to work any other way.

3. Leadership, values, and culture set you apart.

Having a great idea is only part of the battle, says Fred Stevens-Smith, cofounder and CEO of Rainforest QA. To make your company truly impressive, it’s all about the human element.

Another thing Stevens-Smith appreciated about the tech accelerator experience was simply the networking, learning, and camaraderie that came built in.  being a CEO is hard. Building a company is hard. For everyone. It’s easy when you’re inside the founder journey to think that you’re exceptionally bad compared to your peers, so it’s crucial to see that other founders are experiencing the same rollercoaster as you are.”

4. Be intentional about figuring out how to scale–in all aspects of the business.

The eventual goal of any startup is to grow, of course. To Vivek Ravisankar, cofounder & CEO of HackerRank, buckling down and learning how to scale has been critical.

“Agility is important at scale. It’s easy to do this when you are a three-person company, but how do you do this, and make sure people are aligned with the company proposition and values, when you are 100?

“Hiring people at scale. The bar is extremely high for the first 10 hires. The most important part is figuring out how to maintain this bar at scale.

“Customer love. When you’re first starting out, it’s extremely important to make 10 customers happy. But how do you do this for 100 customers, 500 customers, 1,000+ customers?”

The earlier you start thinking about how to scale your company, the better you’ll be able to grow. “These lessons were very instrumental in the early days of founding HackerRank,” says Ravisankar.

5. Pay attention to what people want, not just what you think they want.

The more transparent you are about what you’re trying to create, the more time you’ll have to gauge the reactions of your target audience. Segment cofounder and CEO Peter Reinhardt experienced this during his time for program Startup Accellerators.

6. Lean on your mentors. When you’ve made it, pay it forward.

Startup founders may feel like they have to bootstrap their companies all on their own. But you’ll get further if you embrace the power of mentorship and learn from those who’ve gone through the process before you.

startup accellerator

The most successful startup accelerators in the world, what do they have in common?

startup accellerator

As most of you know, startup accelerators help connect startup companies and investors by doing business partnerships for periods of time. When a startup company has a plan for collaboration in its mind, it must have those ‘special’ criteria that act as requirements. The most successful accelerators must possess those criteria. Here are the top 5 standards compiled by the HUB.id team from various sources.

1. They focus on collaborations.

They usually focus on collaboration between mentors and founders. It is important to note that for a startup company to flourish, they create impactful partnerships. The mentor’s ideas with the founders are aligned, and they know they are here to change the world. 

Here on HUB.id, we’re looking for startups that have already acquired funding, so the mentoring that will take place will not be too basic. The inventors already had previous knowledge.

2. They strive for innovation.

They focus on innovation while staying true to inventors’ intent. Of course, they can pivot just a little but not do a drastic change because of a single accelerator’s needs. Here’s where integrity plays the most prominent role. You change, you waste.

3. Demo Days

The best startup accelerators routinely have their demo days where inventors can pitch their ideas to angel investors or investors in general. There are also days when inventors can learn the financial aspects of their business.

4. High Exit Rate

Numerous sources such as Forbes.com, gathering data from Crunchbase, ranked accelerators based on a metric called Exit numbers. According to betaboom.com, top accelerators like Techstar Boulder Accelerator even have an exit rate as high as 24.7%. One of the top accelerators, such as Y Combinator that birthed Reddit, Dropbox, and Airbnb for a total of 9.7% exit rate.

5. Transparency

According to an article by newswise.com, in an environment where inventors can communicate openly with mentors and fellow inventors, they can help each other out. When working in an open space together, it was initially believed there would be competition among inventors. It turned out it was unlikely that they would’ve competed amongst them.

So those are the five main criteria for top startup accelerators by HUB.id. Do you think there are more not listed here in the article? Let us know in the comment section!

business matchmaking

5 Tips for Optimizing Your Opportunities at Business Matchmaking Startup Program

business matchmaking

Are you an entrepreneur who has successfully brought your startup to the Startup Accelerator Program? Congratulations, you have taken one step forward to expand your business and company funding. Involving your startup company in an accelerator or incubator program will certainly allow your company to get maximum funding, of course, this funding will be useful for scaling up company operations or developing your company’s products. In addition, this kind of program will open the door wider for you to network, not only with potential investors but also with other companies that will help you build synergies in the future. 

For those of you who may have gone through several stages to participate in this accelerator startup program, here are some tips that you can do to optimize your time in the accelerator or incubator program.

1. Join in every agenda

Usually, in the startup accelerator or incubation program, there are several sub-programs that you can participate in, such as business matchmaking, mentoring, or demo days where you usually pitch in front of investors. Each program is designed to be useful not only for investors but also for startup companies, so don’t skip these sessions and lose valuable opportunities to gain knowledge from experts.

2. Study your next investors 

Remember, it is all about finding the right fit. Do in-depth research, about any venture capitals or investors who attended this event so you can find the right match for your startup company. The suitability of investors with you and your company will determine how your company will run with funding from it and your relationship with investors during your company’s future journey.

3. Prepare your sales pitch materials

In this startup accelerator program, you will meet potential investors and partners, so it is very important to prepare a convincing sales pitch. Apart from being in the form of decks to be presented in large forums such as demo day sessions or pitch sessions, save a simpler deck on your cell phone or tablet so that it is more concise to show to your interlocutor when meeting with participants during the event. You can also show a demo of your product directly on the device that you bring during the event. 

4. Networking

By participating in an accelerator or incubation program, it means that your networking opportunities are getting wider. You will meet potential investors, fellow startup companies and you can likely enter the community or people who will become your customers. Prepare your best business card and be ready to mingle with all participants. Share widely what your product is and how it works. You will not know how the results achieved from your participation and mingling in each session may be beneficial for you and your company in the future.

5. Maximize mentoring sessions

Mentorship is usually part of this accelerator and incubator program. As a startup company entrepreneur, you need to get feedback from experts who become mentors. Do your best to research the mentor’s background and ask as many questions as you can. Getting criticism is certainly not bad and will be an important lesson for the sustainability of your business. Be clear about what you want for your company, it will help mentors to have a deep understanding of your company and give advice that fits your vision. Lastly, don’t forget to keep your relationship with them last. 

Accelerate your startup

Startup accelerator and incubator programs are useful for companies looking to scale up their business. If you’ve got this opportunity, optimize your time and the whole in it to get the maximum benefit.

So are you ready to join the startup accelerator program for your business development? 

For you Indonesian startup entrepreneurs, take advantage of the opportunity at Hub.id, a platform provided by the Ministry of Communication and Information Technology of Indonesia, focusing on enabling post-seed local Indonesian startups to scale regionally by leveraging Indonesian Kemkominfo’s vast network of corporate & governmental partners. In Hub.id you can expand your network, get expert mentors and funding that is beneficial to your company. 

Follow these tips and it’s time to scale up your business!