- 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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