If you drive a car, you know what is accelerator in a car. But, do you know, who is a startup accelerator. Otherwise called as a business accelerator and seed accelerator they are coherent-based or fixed-term programs that encompass educational and mentorship components for businesses.
How are startup accelerators different from startup incubators?
You might have heard about the startup incubators, and you might be wondering whether they are same as startup accelerators. But, there are differences.
ØThe traditional business incubators are government-funded and they do not take any equity. Also, they focus on product-centric startups, and those engaged in cleantech, medical technology, financial technology and biotechnology domains.
ØOn the other hand, accelerators can either be funded publicly or privately, and they offer their service to many industries.
ØAs against business incubators, the application process in the case of startup accelerators is open to anyone. However, it is something highly competitive as well.
ØThere are some types of startup accelerators like corporate accelerator that is programs or subsidiaries to larger corporations that function as startup accelerators.
List of Current Startup Accelerator:
If you own a small business, a startup accelerator can surely help your business grow. Here is the list of top 10 accelerators in India to choose as suggested by Mr Mukesh Maheswari, a Startup Mentor:
|S. No.||Name of The Incubator Centre||City||USP (Area of Specializations)||Successful Startups|
|2.||GSF Accelerator||Gurgaon||Internet and Mobile||
Little Eye Labs
Mobile using Microsoft technologies
Supply Chain Technologies
Big Data analytics
|7.||TLabs Accelerator||Noida||Internet & Mobile Startups||
News in Shorts
Media & Entertainment
Digital media startups across verticals like consumer, enterprise and social
Big data and Ad tech
The Intersection of Mobile & Geo
Internet and mobile
Why should startups get help from accelerators?
If you think whether your student startup business needs real help from a business accelerator, you should understand how startup businesses can benefit from an accelerator program:
Access to networks:
In the present competitive world, the success of any businesses dramatically relies on the network they have. If you wish to develop your network with a group of mentors, who very well knows the nature of your industry, an accelerator program will provide the opportunity for the same.
Startup funding is highly essential for any small business. An accelerator program will help you by seed funding, which will support you to spend your own money on core activities and can use the money from the accelerator for marketing and other purposes that you feel will help your business grow.
Free office space:
In general, businesses joining an accelerator program will get free office space for around three months of space. The three-months of initial office space will help you save a whole lot of money.
Your accelerator will pressurise you:
Yes, what you have read is right. Most accelerator programs come with a basic framework and a deadline to help you get there quickly. Of course, you might think that you have the self-motivation that to achieve it. But, when it comes to reality in the early stages of business establishment, it is something tricky.
A peer support group:
You might think it to be similar to networking. But, it is different. When you find a group of people doing the same thing like you, it will automatically motivate you to perform better. It is an essential benefit you will get by becoming the part of an accelerator program.
In addition to these benefits, your venture capital requirements will also be met by an accelerator. They can act as your angel investors to bring a whole lot of relief to the pressure in funding your business.