The must – read guidebook for entrepreneurs looking to get into accelerator programs and to build and scale their startups with speed
Accelerator programs have become one of the most powerful and valuable resources for entrepreneurs seeking to learn rapidly, build powerful networks, raise capital, build their startups and do this at speed and scale. In recent years, the number of accelerator programs around the world has grown at an incredible rate, propelling startups such as AirBnB, Uber, DropBox, Reddit, and others - many to billion-dollar valuations. The number of accelerators, the differences in accelerator program offerings and the unique benefits and costs of different accelerator locations makes choosing the right accelerator a challenge. Selecting the wrong accelerator, failing to be accepted in the right one, or not fully taking advantage of all the accelerator has to offer can be costly, sometimes fatal. With the stakes so high, entrepreneurs need to understand all their options, choose carefully and do the right things to maximize their chances of success.
Startup Accelerators is the go to guide for any entrepreneur, providing a firsthand look into the acceptance criteria and inner workings of different accelerator programs. Written by entrepreneurs for entrepreneurs, this indispensable resource explains what different accelerator programs offer, how to get accepted, what to do during the program, how to raise money during accelerators, what to do after the program ends, and much more. Packed with real-world case studies and advice from leading experts on startup accelerator programs, this one-stop resource provides step-by-step guidance on the entire accelerator process.
- Reveals how accelerators help founders navigate different challenges in the startup journey
- Describes the differences in the benefits and costs of different accelerator programs
- Explains how to prepare accelerator applications
- Discloses what actions to take during an accelerator to make the most of it
- Depicts case studies of entrepreneurs’ accelerator applications, experiences and outcomes across different accelerators
- Features interviews with accelerator program managers, founders who went through accelerators, and investors in companies going through or having gone through accelerators
- Includes insightful data and reflections from entrepreneurship education researchers and academics
Startup Accelerators: A Field Guide will prove to be invaluable for startup founders considering or going through accelerators, as well as aspiring entrepreneurs, educators, and other startup accelerator stakeholders.
Table of Contents
About the Authors
Acknowledgments
About the Website
Preface
Introduction
Chapter 1 The Emergence of Startup Accelerators
Emergence
Ascendance
Expansion
Impact
Future
Chapter 2 What Happens in an Accelerator
Accelerator Programs
Accelerator Curriculums
Accelerator Coworking Spaces
Accelerator Mentors
Accelerator Program Managers
Accelerator Weekly Check - In Sessions
Accelerator Advisors
Demo Day
Case Study 1: LEAPIN Digital Keys and the H-Farm Deutsche Bank IoT Accelerator Program (Italy)
Chapter 3 Is Your Startup Ready for An Accelerator
What it Takes to Get into an Accelerator
Accelerator Acceptance Criteria
Common Accelerator Turnoffs
When are you Ready for an Accelerator?
Can you be too Early or too Late for an Accelerator?
What if you are not Ready?
Case Study 2: BroZone Inc and the Founders Frontier Accelerator* [USA]
Chapter 4 How to Prepare the Accelerator Application
Accelerator Acceptance Criteria vs. The Accelerator Application
The Accelerator Application Process
The Accelerator Application Questionnaire
Company Overview Section
The Founders / Team Section
The Product / Idea Section
The Progress / Traction Section
The Equity Section
Other Common Accelerator Specific Criterion
How Accelerator Applications are Evaluated
Case Study 3: LEAPIN Digital Keys’ Journey Through 3 Different Accelerator Applications [Italy, USA and Germany]
Chapter 5 How to Handle the Accelerator Interview
What is an Accelerator Interview and Why is it Important?
The Interview Process and Interview Questions
Accelerator Interview Questions
What can go Wrong in the Accelerator Interview?
Common Tips and Traps
Case Study 4: Listen Notes’ Y Combinator Interview [USA]
Chapter 6 Should you Give up Equity to Get into an Accelerator
Equity as a prerequisite to Getting into an Accelerator
What else Founders Give up in Accelerator Term Sheets
Key Elements of Accelerator Term Sheets
Types of Securities (or Types of Shares)
Valuation
Anti-Dilution Provisions
Founder Vesting
Liquidation Preference
Voting Rights
Dividends
Board of Directors
Veto Rights or Protective Provisions
Negotiating Accelerator Term Sheets
Case Study 5: Impact of Signing Multiple Accelerator Agreements on a Startup’s capital raising rounds
Chapter 7 Choosing an Accelerator Program
Significance of the Decision to Participate in or Forego Accelerator Programs
Significance of the Accelerator Choice Decision
What makes choosing an Accelerator so Challenging?
What makes a good accelerator?
What makes an Accelerator Right for a Startup?
How to Choose the Right Accelerator
Case Study 6: An Unexpected Accelerator Experience
Chapter 8 How to Get the Most out of an Accelerator
Plan Ahead
Clarify Priorities and Plan your Time
Show that you are committed
Go Fast
Get Customer Discovery and Customer Validation Right
Get Strategy Right
Get Legal Right
Get Investment Ready or Raise Investment
Perfect your pitching, storytelling and business communication
Building your Network within the Network
Resolve any difficult issues
Maximize Learning
Case Study 7: One Co-founder’s Approach to Making the Most of the Techstars Accelerator Experience
Chapter 9 What to Expect After the Accelerator Ends
What Happens After the Accelerator Ends?
The need to maintain momentum
What to do After the Accelerator
Appendices: Founder Resource Directory
Founder Accelerator Experience Reflections
Founder Reflection #1 [Oceania]
Founder Reflection #2 [Europe]
Founder Reflection #3 [Asia, Europe]
Additional Founder Reflections [USA]
Accelerator Program Manager and Entrepreneurship Educator Reflections
Accelerator Program Manager Reflection #1
Accelerator Program Manager Reflection #2
Entrepreneurship Educator Reflection #1
Entrepreneurship Educator Reflection #2
Resources to Help Founders Choose the Right Accelerator
Resources to Help Founders Prepare Accelerator Applications and Plan for the Start of an Accelerator
Resources to Help Founders Navigate Key Stages of the Accelerator Experience
Examples of Leading Accelerators Globally by Region
Index
