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What is a Startup Accelerator?
The beginning of a brand new year should always mean a new beginning for you to start something big. One of the biggest and best things that any young entrepreneur should be doing is finally opening up their first startup business! However, if this isn’t your first rodeo, you probably know how difficult it can be to get traction on your first company.
This is especially true if what your company does is popular or unheard of. It is because of reasons like this that many consider using a startup accelerator. But what exactly is that and what does it mean for you and your business and how would you get started?
What Do Start-up Accelerators Do?
Simply put, start-up accelerators focus on boosting the growth of companies that have a distinguished minimum viable product, (MVP). This is something your business has that offers just enough features to be used by early customers so that they can provide feedback on the service.
Within a three to six month period, a start-up accelerator will act as a crutch for your company as it learns to walk and run on its own. In the long run, something like a start-up accelerator would allow you to make necessary changes to attract more customers and even potential investors.
Is it Worth It?
The answer to the question ultimately depends on what type of accelerator you look into and the amount of effort you put into it and your company. One thing that you need to know before choosing an accelerator for your business is what it can provide. Not all accelerators are built the same and have the same outcome, so it is important that you choose one that will benefit you and your company.
Another key element is timing when you want to make this sort of investment for your company. Professionals in the business of startup accelerators say that the best time to use something like this is during fundraising season. When it comes to growing your business, looking into a startup accelerator can be one of the best options for you.
Success Stories
Everyone loves a good success story. Take a look at a short list of some companies who grew big thanks to a start-up accelerator.
- Coinbase
- Weebly
- Twitch
- Credit Karma
Ready for the Future?
As mentioned above, the use of a start-up accelerator can be a great way to gather up a crowd of potential customers and investors towards your company. With a little bit of time and patience, your new company may find the success that it deserves. Many young entrepreneurs look towards different ways to make their businesses successful, but with the right start-up accelerator program, success is right around the corner. If you want more tips and tricks for new entrepreneurs, check out some more ways you can market yourself and your business here!
Looking to find an accelerator that is right for you and your company? Take a look at this list of 100 of the best start-up accelerators from around the world!
