ACCELERATORS: TYPES AND CHARACTERISTICS

Accelerate your business with these expert tips "Accelerators: types and characteristics". Analyse and discover this TIP!

Accelerators are one of the most important players in the entrepreneurial ecosystem that can help you a lot to launch your company. Accelerators are a very important help by allowing you to get to market in less time, passing the "valley of death" in less time. This consequently increases the chances of success considerably. The first accelerator in Spain was BBooster in Valencia in 2011, now converted into a fund manager, Bbooster ventures, in which Mentorday participates. In recent years, many accelerator programmes have been added in Spain. See accelerator ranking published by FUNCAS (+)

You can contact all accelerators directly by using the MentorAdvisor (+)

HOW DO ACCELERATORS WORK?

Accelerators open several calls per year for project acceleration programmes, with a very demanding selection process. They accept a limited number of projects, usually between 10 and 15.

Instead, they provide an environment, in which the startup has a group of experts to accompany it for a certain period of time in order to grow and move on to the next stage of the business cycle. Startups are selected if they already have a team, a product and a turnover.

Start-ups go through a selection process before accessing one of its programmes. Normally, are of limited duration; a very concentrated week or a few months during which they present their business idea, compete with other startups and work on the necessary steps for growth.

THE ACCELERATION PROGRAMME

The acceleration programme is mentored by experienced entrepreneurs and subject matter experts.

• Technological (link to Dev&Tech)
• Marketing
• Finance

The participating startup must complete, as a minimum, the validation of its business model, generating revenue and the design of its growth engine. Unlike incubators, this time dedicated to the selection and preparation of the start-up is much more specific.

There are different types of accelerators depending on the characteristics and needs of an entrepreneurial project.

ACCELERATION PROGRAMME COSTS

The services provided during the acceleration programme usually cost entrepreneurs a percentage of their company's capital, ranging from 3 to 15%. In addition, some accelerators charge an additional fee of between €500 and €1,000 per project.

There is free acceleration programmes, such as Mentor Acelera Week, which has volunteer industry experts supporting the programme free of charge.

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VERTICAL ACCELERATION PROGRAMMES

Vertical accelerators focus on companies in the same sector. This allows entrepreneurs to have experts who know their chosen sector very well and the specific difficulties, but also the opportunities it can offer them.

SO STARTUPS CAN:

• Shorten the MVP development time, minimum viable product (+)
• To get to know other projects in the sector.
• Discover new potential customers.
• Validate your project in the market.
• Carry out the necessary adjustments.

PUBLIC OR PRIVATE ACCELERATORS

Accelerators can be both public and private. Public bodies can support accelerators to promote entrepreneurship projects in strategic sectors for the region. These are not usually so demanding with regard to the profitability of the project itself, since, are more focused on the overall profitability of their region.

If you don't want to miss the next edition of the #MAW acceleration week in Tenerife, REGISTER NOW!

In these initial stages it is normal for entrepreneurs to access an acceleration programme in which, in addition to obtaining a guide for the development of their project, they can also obtain other benefits such as cost savings through access to office or office automation resources, networking or even access to funding through programmes such as Lanzadera or Seedrocket.

mentorDay facilitates the access of its acceleratees to various instances of support, through, investors (see TIP).  In this other link you have access to information about sources of financing (see TIP).