Everybody has a startup from what we can tell and the result of that is a fast-growing ecosystem that is being built up around it. You now see startup accelerators gaining traction across the region and for good reason.
Startup accelerators are there to remove barriers to startup financing and eventual success. In addition to the much-needed seed funding and regular pitching opportunities, accelerators usually provided added benefits and resources such as co-working space, workshops, mentor programmes and networking events.
More often than not, startups do not actually make the cut for prestigious accelerator programmes due to the strong competition. Then if they do make the cut, whether they maximise their opportunity or not is often in question. Find out how to make the most out of your experience.
Make sure you are in the right type of accelerator
All accelerators have similar goals, which are basically to help their startups scale, but are often based around themes. For examples, EduSpaze is an education-focused startup accelerator, while Techstars has EPS, a maritime technology-based accelerator.
Making sure your startup is the right fit and it helps improve your chances of being selected, while at the same time ensures you get a fuller experience when you’re there. Align your focus with the programme’s mission, and use your time there to move your startup forward.
Create relationships and networks
Relationships are one of the most valuable takeaways that many startups get from any accelerator programme, but that doesn’t mean it is a given if you are part of the programme.
Tap into the experience that the mentors and facilitators within the programme offer. Make sure to always make it clear that you value their opinion and work with them on specific goals for your business. Take advantage of the community you are now part of and the expertise being offered within the programme to further your startup’s goals.
Collaborate to scale
An issue many founders face is that they often look for value rather than look to provide value. The old
You’ve probably heard the old adage about networking:
Network with the intention of delivering value to the people you meet instead of seeking out people who can offer value to you.
This is especially true for accelerator programmes, where your fellow participants are likely in related fields and have the same drive and passion that you do. Working together, you can solve issues that impact your industry and achieve success together.
Startup accelerators continue to gain popularity in Southeast Asia as the startup industry grows. Large organisations are looking to tap into the benefits of the innovative culture and passion of the startup community. Startups need to choose which accelerator programmes to apply for wisely, while at the same time making sure they know how to maximise their opportunity.