Not so long ago we have published a post where we outlined the world’s top 10 accelerators, but it as it turns out not all of our readers fully understand what is it that start-ups can get from participating in acceleration programs. Almost everyone would agree that it’s an opportunity for nascent projects to get funding, but it’s important to note that the value of an accelerator program goes beyond just free money.
The main advantage of an accelerator is the ability to “accelerate time” with expert advice, access to a wide network of professionals and a well thought-through program that help entrepreneurs develop their projects with a much higher intensity, reaching milestones that were initially set for years into the future in just a few months.
The main task of every accelerator is to refine the business processes and expand the existing operation to provide the foundation for further growth and large capital injections. Completing the acceleration program helps the young team understand what it has to do to achieve success. Accelerator experts constantly monitor the project’s success, offering their advice and recommendations on how to build the business processes (test sales channels, build customer support systems, create product improvement strategy, etc.)
Very soon now a pre-accelerator and an accelerator will become integral parts of the ECOS ecosystem and as we believe, will help a lot of start-ups bring their ideas to life and expand their projects.
