Monday, July 27, 2015

Getting accelerator ready - getting investment ready

Large amount of new companies in the web/internet area are looking into startup accelerators as the possible source of first-seed-money. Not only that, but also mentorship, access to investors and suddenly startup accelerator became a trend, that Y generation is preferring even more than a university education.

It didn't took a long time for smart investors to understand, that such accelerators can be a perfect opportunity to fund relatively small amount of money in exchange for a high amount of companies that can be closely observed, thus larger investments could be a save-bet. Nowadays, there are more than 3000 accelerator programs worldwide and many more are being created every day. According to F6S, Europe has over 1300 accelerators, however with different open calls, this number would decrease to around 700 accelerator programs. That is a massive amount of funding available to startups and early stage SMEs. 

Here, i wont cover the quality of the programs and whether the amount of accelerators is too much or too little, rather focus on how to prepare for an accelerator. Obviously, there are so much information on the internet available, that it makes no sense to create something once again, therefore, i'd like to share with you 2 sources of invaluable information that will help you to get accelerator ready. 

1. Paul Graham
Paul Graham is the initial founder of Y Combinator - one of the first and most successful accelerator programs worldwide. Y Combinator brought to world companies, such as Airbnb, Dropbox, Heroku and many many others. Paul has more than enough insights on what it takes to create a successful company and fully benefit from the accelerator program. You can get that wisdom, as Paul talks about these ideas in his blog There are many many posts that i would recommend you to read - best if you read them all before applying to a program, however one that stands-out to make you and your company investment-ready is 'What we look for in founders?'

2. Do’s & Don’ts when Applying to a Startup Accelerator
A perfect YouTube video, with accelerator managers from DreamIt and TechStars, giving tips on how to get into their programs. The collective wisdom, provided in this video is immense, thus it is strongly suggested you watch this!