Young and nascent entrepreneurs are coming up with innovative ideas that can transform the existing standards of a particular industry. But, in order to execute such ideas, one would require proper mentorship, guidance, and resources like manpower and funds. This is when startup accelerator programs come into the picture and help budding entrepreneurs to turn their dreams into a reality. Here is all you need to know about startup accelerator programs:
What is a Startup Accelerator Program? Startup accelerators are also known as seed accelerators. These are fixed-term, cohort-based programs that comprise of seed investment, educational components, mentorship, connections, and culminate in a public pitch event or a demo day in order to accelerate growth. The majority of startup accelerator programs in Silicon Valley and around the world are privately funded as an investment fund that take equity and focus on an extensive range of industries. History of Startup Accelerator Program The first company which is known to utilize the word ‘accelerator’ was Y Combinator. It was started in Cambridge, Massachusetts, by Paul Graham in the year 2005 which later moved to Silicon Valley. Further, more seed accelerator programs developed all across the United States, including Techstars (Boulder, CO), MassChallenge (Boston, Massachusetts), and 500 Startups (Mountain View, California). By this time, seed accelerator programs also started to emerge in Southeast Asia and China. One of the initial accelerators of this time was Chinaccelerator (Shanghai, China), which was launched in China in the year 2009. The United States of America soon recognized the potential of seed accelerators and gained a lot of popularity. Apart from this, Europe has also witnessed an increase in accelerator programs in order to support a growing startup ecosystem. Some of the most renowned accelerator programs in Europe include Seedcamp (based in London) and Startupbootcamp (pan European accelerator with program locations and office spaces based in Amsterdam, London Copenhagen, Israel, Berlin, Istanbul, and Eindhoven). In the year 2012, Forbes published an analysis of startup accelerators as they have become one of the most prominent sources of startups for traditional investors. We hope that this information will help you get a clear picture of Startup Accelerator Programs and how they have transformed industries over the years.
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