Starting a business is no easy task, but fortunately there are many support systems available to help founders. In this blog, we will outline some of the most prominent incubator and accelerator programs available to early-stage founders.
The programs and services offered by incubators and accelerators are very similar, however, where incubators focus on early-phase startups that are in the product-development phase, accelerators focus on speeding up the growth of existing companies that already have a minimum viable product (MVP).
The offering of incubators and accelerators typically include:
- Funding: Most offer initial seed investment in exchange equity as well as follow-on funding for companies that show progress.
- Access to investors: incubators have a network of investors who are interested in investing in early-stage startups. They help startups connect with these investors and prepare for fundraising.
- Mentorship: With their vast network of mentors, they provide mentorship to startups from successful entrepreneurs and industry experts.
- Weekly dinners: where startups can meet and network with other founders and mentors. These dinners often feature guest speakers who share their experiences and insights with the startups.
- Demo Day: At the end of the various programs, Demo Days are hosted where startups can pitch their businesses to a room full of investors.
- Office space: many incubators provide co-working spaces for startups during the program.
- Legal support: to help startups navigate the legal aspects of starting a business, including incorporation, equity allocation, and contracts.
- Growth resources: access to growth resources such as software, dedicated hours with partners, and workshops.
- Alumni network: access to a large alumni network of successful startups, which provides ongoing support and mentorship to members.
Example incubators:
Y Combinator - https://www.ycombinator.com/
- Y Combinator is one of the most well-known incubators in the world. They offer a 3-month program for early-stage startup, including seed funding, mentorship, and access to a network of investors. Companies that have been through the program include Airbnb, Dropbox, and Reddit.
Techstars - https://www.techstars.com/
- Techstars is a global startup accelerator that provides a 13-week program designed to help early-stage startups grow and succeed. Companies that have been through Techstars include SendGrid, ClassPass, and PillPackCommunity.
StartX - https://startx.com/
- StartX is a startup incubator based in Palo Alto, California. They provide office space, mentorship, and resources to early-stage startups. StartX offers a range of programs, including an incubation program, a mentorship program, and a community program. Their incubation program lasts for four months and includes mentorship, workshops, and access to a network of investors and entrepreneurs. Companies that have been through StartX include Luminar Technologies, Blue River Technology and Desktop Metal.
Founders Factory - https://foundersfactory.com
- Founders Factory is a startup incubator based in London, UK. They provide office space, mentorship, and resources to early-stage startups. Founders Factory offers a range of programs, including an incubation program, an accelerator program, and a corporate accelerator program. Their incubation program lasts for six months and includes mentorship, workshops, and access to a network of investors and entrepreneurs. Companies that have been through Founders Factory include Grover, Tail, Vinterior and Pollen.
The DMZ -https://dmz.ryerson.ca/
- The DMZ is a startup incubator based in Toronto, Canada. They provide office space, mentorship, and resources to early stage startups. The DMZ offers a range of programs, including an incubation program, an accelerator program, and a mentorship program. Their incubation program lasts for four months and includes mentorship, workshops, and access to a network of investors and entrepreneurs. Companies that have been through The DMZ include Borrowell, Sampler, SoapBox and Prominent.
Example accelerators:
500 Startups - https://500.co/
- 500 Startups is a global accelerator that provides mentorship, funding, and access to a network of investors. They focus on investing in companies with a strong team, a large market opportunity, and a scalable business model. Companies that have been through the program include Talkdesk, Wildfire, and Udemy.
Seedcamp - https://seedcamp.com/
- Seedcamp is a European accelerator that supports businesses in finding product-market-fit, building sales and marketing capabilities, team growth and access to a global network of operators and investors. Companies that have been through the program include TransferWise, Revolut, and UiPath.
Seedstars - https://seedstars.com/
- Seedstars is a startup accelerator that focuses on emerging markets. They provide seed funding, mentorship, and resources to early-stage startups. Seedstars offers a range of programs, including an accelerator program, a bootcamp, and an investment program. Their accelerator program lasts for three months and includes mentorship, workshops, and access to a network of investors and entrepreneurs. Companies that have been through Seedstars include Giraffe, ToLet.com.ng, QuickCheck and mPharma.
Dreamit Ventures - https://www.dreamit.com/
- Dreamit Ventures is a startup accelerator based in Philadelphia, Pennsylvania. They provide seed funding, mentorship, and resources to early-stage startups. Dreamit offers a range of programs, including an accelerator program, a growth program, and a fund. Their accelerator program lasts for four months and includes mentorship, workshops, and access to a network of investors and entrepreneurs. Companies that have been through Dreamit Ventures include SeatGeek, LevelUp and Adaptly.
Global Accelerator Network - https://gan.co/
- The Global Accelerator Network is a network of startup accelerators around the world. They provide seed funding, mentorship, and resources to early-stage startups. The Global Accelerator Network includes accelerators in over 100 cities and offers a range of programs, including an accelerator program, a bootcamp, and a mentorship program. Their accelerator programs vary in length and structure. Companies that have been through the Global Accelerator Network include DigitalGenius, Fastly and Talkdesk.
Founders Institute - https://fi.co/
- The Founder Institute is a global pre-seed startup accelerator that provides a four-month program to help early-stage founders build enduring tech companies. Companies that have been through the Founders Institute include Udemy, Realty Mogul and Travelcar.
Alchemist Accelerator - https://www.alchemistaccelerator.com/
- Alchemist Accelerator is a venture-backed accelerator program that focuses on enterprise startups. They provide a six-month program for early-stage companies that are developing technologies for the enterprise market. Companies that have been through the Alchemist Accelerator include Tarsier, Clover Health, Lob and Rigetti Computing.
When choosing an incubator or accelerator, it is important to do research and find the program that is the best fit for your business. Consider factors such as the program length, the types of mentorship and resources offered, the funding opportunities available, and the reputation of the program. It is also important to consider the specific needs and goals of your business, and to choose a program that can provide the support and resources you need to succeed.
