How do I set up an accelerator for my business?

An open source guide for building the startup accelerator of your dreams

1. Step 1: Found your own company.
2. Step 2: Participate in the community.
3. Step 3: Talk about the community.
4. Step 4: Invite the community in.
5. Step 5: Create a common space.
6. Step 6: Keep doing all of that stuff.
7. Step 7: Start an accelerator.

How do Accelerator programs work?

More specifically, accelerator programs are pro- grams of limited-duration—lasting about three months—that help cohorts of startups with the new venture process. They usually provide a small amount of seed capital, plus working space. Like them, accelerators aim to help nascent ventures during the formation stage.

How do Accelerator programs make money?

The Accelerator would charge startups by offering desks for rent. In a way, the Accelerator is actually offering similar services to a co-working space. Alternatively, Accelerators make money through offerings of training and consultancy services for startups, in exchange for money or equity.

What do business accelerators provide?

Accelerators are organizations that offer a range of support services and funding opportunities for startups. They tend to work by enrolling startups in months-long programs that offer mentorship, office space and supply chain resources.

How do accelerators recruit startups?

Accelerators typically involve a selective application process. Once accepted, startups receive education, mentorship, networking, and potential funding. It’s common for startups to enter accelerators in hopes of walking away with funding from investors.

What are accelerator services?

A startup accelerator, or seed accelerator, is a source of finance and other services to help new businesses get established and cover some of their initial costs that startup founders cannot provide themselves.

What makes a good business accelerator?

Good accelerators should connect you with mentors and allow you to engage with them over the course of the program. Programs should clearly articulate the potential conflicts that can emerge between mentors, company founders, and the companies themselves.

How much does it cost to start an accelerator?

Generally speaking, the cost of a startup accelerator is $120k – $150k to participate over four months. It’s an expensive but worthwhile investment if you can get accepted because it will give you access to mentors who have already made successful companies as well as network connections from investors.

Do Accelerators provide funding?

Accelerators typically offer seed money in exchange for equity in the company. This may range from $10,000 to over $120,000. Though some have recently pulled back on the amount of funding they provide, citing over funding as a major roadblock to success.