{"id":1631,"date":"2020-12-08T07:00:56","date_gmt":"2020-12-08T07:00:56","guid":{"rendered":"https:\/\/thenextweb.com\/?p=1329463"},"modified":"2020-12-08T07:00:56","modified_gmt":"2020-12-08T07:00:56","slug":"how-to-choose-a-startup-accelerator-no-matter-whats-happening-in-the-world","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=1631","title":{"rendered":"How to choose a startup accelerator \u2014 no matter what\u2019s happening in the world"},"content":{"rendered":"\n

Accelerators form an integral part of many entrepreneurs<\/span>\u2019 journeys. By definition, an accelerator is a fixed-term program that usually lasts anything from three to 12 months. These programs<\/span> offer a series<\/span> of benefits, including education<\/span>, mentoring, and networking<\/span>. Some may offer investment to startups<\/span> and on occasion, accelerators will take equity<\/span> in the companies<\/span> they accelerate.<\/p>\n

With more than 7,000<\/em> of these programs<\/span><\/a> spread out across the globe, entrepreneurs truly are spoilt for choice. But faced with this insane amount of possibilities, how are you supposed to choose the right one? It\u2019s easy, focus on yourself. Hear what other startups have gained, how they\u2019ve made the most of accelerators, and then choose the right program based on your current needs.
<\/span><\/p>\n

There are plenty of success stories that prove the extent to which accelerator programs can benefit a business<\/span>. For example, the sharing economy giant Airbnb<\/span><\/a> is arguably one of the most high-profile companies<\/span> to have gone through a startup accelerator.<\/p>\n

If you\u2019re now at the stage of your business journey when you\u2019re thinking about possibly joining an accelerator, it\u2019s important to research the market<\/span> and find a program<\/span> that suits your business needs \u2014 just because a program has had success stories doesn\u2019t automatically mean it\u2019s the right fit for you.<\/p>\n

No entrepreneur should enter into an accelerator program lightly; you need to really think about what will be expected of you as a participant and be clear on what you will personally get out of the program<\/span>.<\/p>\n

You also need to \u2014 given the current circumstances and business upheaval brought about by COVID-19<\/span><\/a> \u2014<\/span> consider whether it\u2019s worth entering into a commitment of this magnitude during a global pandemic<\/span>.<\/p>\n

[Read: Why this security engineer loves working in infosec<\/a>]<\/em><\/p>\n

Before digging in<\/h2>\n

Now, it doesn\u2019t take a genius to figure out that the best way to know what startups<\/span> need and could get from accelerators is to speak to actual founders<\/span> whose startups<\/span> have gone through an accelerator. Luckily for me, TNW<\/span> is a founding partner of the DMS accelerator<\/a> program, and this meant I had easy access<\/span> to a host of alumni who were able to share their experiences and insights.<\/p>\n

Before we move on to this, though, it\u2019s probably a good idea<\/span> to share some context about the program<\/span> and to help you get a better understanding of the journeys of the startups I spoke to.<\/p>\n

Basically, <\/span>Data Market Services<\/span> is an equity-free program that aims to overcome growth obstacles facing startups operating within a fragmented European data market \u2014 helping founders with pain-points such as privacy law, intellectual property, and investment opportunities. It\u2019s also worth pointing out that it\u2019s funded by the European Commission. <\/span><\/p>\n

As part of the program<\/span>, 50 startups receive free entrepreneurial training<\/span>, acceleration, and mentoring for six months. Before the pandemic, 60% of the program took place online, with the remaining 40% spent attending startup events across Europe. Now it\u2019s 100% online,<\/span> meaning founders receive mentoring and the opportunity to promote their business and network with potential partners<\/span> from the comfort of their own homes.<\/span><\/span><\/p>\n

Then finally, the top 10 startups are invited to an exclusive DMS Bootcamp composed of workshops and mentoring sessions. All of this is recorded and businesses<\/span> will walk away with a promotional video<\/span> \u2014 which can be a cost-effective way to bolster marketing efforts.<\/p>\n

But now let\u2019s move on to the good stuff.<\/p>\n

Signing on the dotted line: What you need to know<\/h2>\n

All in all, DMS seems to have struck a good balance for its cohort companies<\/span> but founders<\/span> still need to consider why they want to join the specific program<\/span> before applying.<\/p>\n

The thing to note here is that much of what you had to think about as a founder<\/span> in the pre-COVID-19 era still applies:<\/p>\n