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STARTUP HELP

How to choose an accelerator Add to ...

Here’s some advice from Chris Carder, managing partner of Kinetic Cafe, and Mark Evans, founder of ME Consulting:

  • Research mentors, advisors and investors, including their qualifications, track record, level of involvement, commitment and availability.
  • Research the money, including how the accelerator is being funded, who is behind the funding, and what kind of seed capital is available
  • Learn the accelerator’s value, vision, focus and philosophy, gaining insight on everything from what kind of companies they are focusing on to their varying expectations.
  • Determine if any follow-up support  is offered.
  • Consider that you may have to move to another city for several months
  • Ask how much equity you’ll have to give up, typically 5 per cent to 10 per cent
  • Check out the backgrounds of other startups that are coming in, for there is much to be gained from collective knowledge and experience
  • Consider whether your company is at the right stage for an accelerator to be of real help; it may be too early or, if you already have revenue traction, it may be too mature.

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