Best startup accelerators to scale up your business growth
Anyone can own a startup these days. Only those who hustle to bring it forward will see it grow.
No matter how great your product is, to launch it properly and hit the saturation point, you need expert support and guidance.
In recent years, there has been rapid growth in startup support cohorts which are solely created to fund and assist startups.
One such powerful program that offers guaranteed results is the global accelerator program.
Global business accelerators empower startups and act as a catalyst to facilitate their growth.
Their extensive mentorship program turns your ideas into action and helps you mold a viable business model.
What is an accelerator program?
Accelerator programs for startups are created for aspiring entrepreneurs to receive education, financing, and support during the onset period of their business.
Startup accelerator companies announce fixed duration, growth-based global accelerator programs and select founders with promising ideas.
These accelerator programs for startups receive applications from startup owners worldwide.
They provide the face-to-face mentorship required to fuel your startup and the investment needed. These courses are offered both online and offline.
At the end of the program, the startup owner will be ready to work on the roadmap to their startup launch with the raised funds.
Startup accelerators can be operated by anyone from a mighty corporation to local bodies.
How do startup accelerators work?
To avoid getting confused between the terms accelerators and incubators, let’s see what entrepreneur accelerator programs specifically do.
Startup accelerator companies start with the application process to select the startups they plan to train and develop. Each global business accelerator has its scrutinizing strategy.
Getting selected by the best accelerators in the world can be a tough challenge due to the amount of competition and rigorous selection.
Instead of selecting companies from different industries, startup accelerator companies usually focus on choosing similar companies or cohorts.
For example, tech startup accelerator programs focus on Infrastructure or technology-based startups. The duration of global accelerator programs may vary between 3 months to 1 year.
Startup accelerators enable you to collaborate and discuss with your cohort to understand the prevalent challenges and opportunities in your industry. Along with mentorship, they conduct accelerator rounds to fund the selected startups.
They also connect you with investors, capitalists, and advisors and make you a part of the network, which can be very resourceful for a beginner in terms of funding and hiring.
Some startup accelerator companies provide access to the physical workspace where different startups can co-work, hustle and grow. For the funding assistance they provide, the startup provides returns in terms of equity.
Why should your startup join an accelerator program?
Entrepreneur accelerator programs can turn the level of your startup upside down in a short span.
Here is why your startup should enroll in a global business accelerator program.
1. From an inexperienced to a fast-growing startup
A lot of startup owners start with zero experience.
They look for assistance in management, hiring, financing, and many other things but don’t have reliable sources.
Startup accelerators can propel your dream in the right direction and help you take the first step.
One strategy doesn’t fit all. With the right global accelerator program, you know what will work for you to keep going onwards and upwards.
2. Join hands with an ally
Along with industry and business expert advisors, you get to meet other professionals like legal or financial advisors, who can offer valuable insights to get moving.
These services are either offered for free or at a low cost but provide the utmost value during the early stages of your startup.
3. Get your funds arranged
As a single person, it won’t be viable for you to reach out to investors or venture capitalists.
Accelerator programs for startups will help you join hands with investors who see potential in you.
Startup accelerator companies will have their own round of seed funding and also arrange meetings with potential angel investors, VCs, or angel networks.
4. Get your future customers
Entrepreneur accelerator programs are where you will meet various startups who can be your potential customers.
This connection can ensure a deal for you once your product is ready to hit the market.
You can also analyze what your customers expect in your product and make tweaks to improve its finesse.
5. Cross the stagnation point
Some startups are lucky enough to taste the luck during their early stages and cross the break-even point without support.
But they reach one point where they lack focus as they have too many issues to attend to.
This is where a global business accelerator can change their life.
You gain knowledge from peer-to-peer discussions and expert coaching and are able to identify the bottlenecks.
Top global accelerator programs to redefine your business growth
Here are some of the best startup accelerator companies that are revolutionizing the startup world and creating loads of opportunities.
Y Combinator
Y Combinator is one of the foremost and leading startup accelerators that has developed many outstanding startups all over the world.
Some big alumni of this accelerator are AirBnB, Stripe, Cruise, Reddit, and many others.
More than startups, they pick ideas that are worth developing, and they train and invest in them. Founded in 2005, the value of startups, Y combinator is one of the toughest global accelerator programs to get into, with a 1.5% of acceptance rate.
AngelPad
Based out of New York, this seed-stage accelerator is rated as one of the best accelerators in the US.
After selection, they run a complete analysis of a product and mentor the startup owner to launch it successfully.
Some of the alumni of AngelPad who are soaring high are Pipedrive, agent desks, postmates, and 150 others.
Invested and raised more than 2 billion since 2010, AngelPad keeps revolutionizing the startup world in every vertical.
Techstars
Founded by entrepreneurs, Techstars presents accelerator programs for startups.
Their global accelerator programs are mentorship and investment-based. So far, they have raised more than $16B in funding and transformed over 2600 startups.
Selected startups get to be a part of Techstar's network and receive lifelong membership.
This network contains investors, other startups, big leaders, industry experts, and mentors.
They empower entrepreneurs through other common communities like startup week, startup digest, startup weekend, etc.
Antler
Having offices in 17 locations, Antler lets its startups be a part of a worldwide network of professionals.
They provide mentorship and networking support, and regarding funding, they assist startups from the seed stage to C series funding.
They stress responsible investing as they promote and invest in ideas that contribute positively to society.
Plug and Play
Having made over 700 investments, Plug and Play is one of the startup accelerator companies that always seeks innovation.
They offer global business accelerator courses and other innovation programs in 35 cities all over the world.
They create an ecosystem of startups and facilitate their meetings with prospective investors, clients, and tech professionals.
For each vertical, they have a dedicated global accelerator program, like fintech, health, IOT, or tech startup accelerator programs.
Nium’s Bolt
Crafted specifically to foster innovation among fintech startups, Bolt by Nium offers three-month-based entrepreneur accelerator programs.
To stay true to their motto, they let cohorts network and collaborate with each other, offer them unconditional support, and help them scale.
Startups also get to join a 360-degree learning hub where they learn from the finest tech experts and thought leaders.
This startup accelerator is based out of Singapore. With their highly sophisticated API stack, startups can build world-class fintech products.
They take no equity or shares in the profit their startups are going to make. That being said, they don’t fund directly but enable connections with VCs and investors.
How to apply for a startup accelerator program?
Though there are lots of startup accelerators all over the world, getting into one is difficult.
The acceptance rate in many of them is still below 5%. You need a clear, concise, and effective idea that stands out.
Develop your idea and identify your niche, competitors, target audience, and their spread.
The first step to applying to one of the best accelerators in the world is choosing the accelerator that fits your strategy.
Make a list of startup accelerator companies you want to apply to.
Keep following the announcements of batches by startup accelerators and apply when they are rolling admissions.
If the accelerator has accepted your application and wants to proceed, you will be called for an interview. This interview will be intense, where you will be interrogated by your partners.
You have a chance to explain what you envision and aim to achieve and what you require to accomplish that.
You will be given a chance to get to know them, their program, their expertise in the industry, and what you can expect from them.
It’s okay to get rejected or apply for multiple startup accelerator programs at the same time. Get feedback and improve your application to work on the loopholes and come back stronger.
Global business accelerators give you the necessary tools and push to take your startup to the next level.
There are many successful companies who have seen their current form as they associated themselves with a startup accelerator once.
If you want to secure your position before your competitor does, startup accelerators are a great place to start with.
Related read - Guide to startup funding stages - Seed funding to IPO