Are Startup Accelerators Worth Your Time as a Founder?

Short Answer — Yes.

Photo by Sigmund on Unsplash

Do you have an idea or business model?

If the answer is yes, then great! You can move on to the next question. If not, it might be time to do some soul searching and figure out if you have an idea worth pursuing.

Do you have a team in place?

The ideal situation for an accelerator program would be to have a team that is ready to work towards achieving its goals under the guidance of your accelerator partner.

What are your goals?

If you are looking for funding, then there are a few different ways to do it:

Do you want outside help with building out your business model/idea?

The primary reason why accelerators exist is to help founders succeed. If you believe that an accelerator can help you succeed, it’s worth considering applying to a few and seeing if they can provide the support that you and your startup need.

Do you want outside help with executing your business plan?

As we discussed earlier, a big part of an accelerator program is the training that the startup receives from their partner company. The other part of the equation is the time that participants spend with their cohort which provides a rare opportunity for active mentorship.

Do you want to meet potential mentors and investors?

Any person who is considering applying to an accelerator program should consider this question carefully.

In Conclusion

Having said all of this, it’s important to note that many of these assumptions are true today but may not always hold true in the future. I would highly recommend doing some research on accelerator programs before deciding whether they would make sense for you and your startup.

Founder of Cudy Technologies (www.cudy.co), a full-stack EdTech startup helping teachers and students teach and learn better. I am also a mentor and investor.