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Discussing Accelerators
Read time 1.9 minutes

One of the most common questions I get in replies to my newsletter is about the value of accelerators.

Accelerators have evolved into a critical component of the startup ecosystem, serving as catalysts for early-stage companies by providing more than just financial investment. They offer a blend of mentorship, access to a vast network of investors and industry experts, and a suite of resources and tools tailored to startup growth. As such, the true value of accelerators extends well beyond the initial capital infusion, fostering an environment where founders can refine their business models, accelerate growth, and increase their chances of success in competitive markets.

Here is how I would approach accelerators:

1. Don’t apply to one just for the money - I made this mistake. The deals are normally aggressive and undervalue your company. The only way an accelerator makes sense is if you are going to take advantage of all the benefits and resources that come with the money.

2. Go for the support and networks - If you are a first-time founder, accelerators can help you avoid many common pitfalls. They are a great source of mentorship and advice, but most importantly, they plug you into their network, helping you raise future capital.

How should you decide if an accelerator is worth your time?

1. Talk to former members. They will give you the ins and outs. You can find them on Crunchbase.

2. Look at their track record. YC is so popular because of its track record.

3. Look into the specific mentorship programs and the benefits they provide. Some accelerators like YC don’t provide many details, but most will tell you exactly who is in their network and what services they can provide you.

4. Ensure the funding terms make sense after considering all the non-monetary benefits you’ll get.

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