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.
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!