Let me guess, you have or work for a startup? Don’t be too shocked, if you opened this post chances are you’re interested / involved in the tech & startup world. Today, we want to talk a bit about acceleration programs and exactly what they can do for you.
So, you’ve started your company, you’re growing your services / products, your team, and your brand, but you are now at the point where you could use some advice, direction, and a little funding?
This is where accelerators come in. Offering a typical three – six month program, accelerators can give you the chance to hone in your business plan, develop your product / service model, and launch your business. Sound too good to be true?
Well don’t worry, it’s perfectly possible! Here at nihub Innovation Center, we have a bit of a saying, a saying that “it’s all about ni” and for us, acceleration programs are no exception.
Tailored and designed to match your industry, your technology, and your business, the right accelerator can offer you and your startup a lot more than just mentorship. Below we’ve listed just a few of the thousands of ways you could benefit from an accelerator and why you ought to consider one along the long road from startup to scale up.
Operating a startup can be lonely and challenging. That’s where an accelerator can help. Especially corporate or government-backed programs can be particularly valuable in terms of giving you the connections and support you need to garner while going through the program.
Accelerators and their corresponding sponsors, mentors, and actors offer comprehensive support not just through financial or physical means (investment / office space), but also through advisory, emotional & lifestyle support, networking, and intangible resources that can often not be quantified.
Most accelerators are often criticized for not giving many (or any) financial resources.However, what they do give is much more important than a small financial stimulus. Through investor contacts, references, and connection, corporate-backed acceleration programs can support their startups much further than those that focus on giving enough financial support from the start simply to attract the project.
Be wary of programs that offer you what may seem like big bucks at the start simply as incentivization and make sure that investment connections / resources will be a priority asset of the program at the later dates to make sure you don’t sacrifice time, shares, or other company interests for something that won’t give a full return.
Instead, take the long-term route with a project that supports you where it can in the beginning, but also offers clear cut, transparent, and credible investment resources, solutions, and incentives that can help your project scale even well after the program has finished.
Perhaps the most important aspect of any accelerator is the knowledge it offers you. After all, you’re joining the program to learn, to develop, and to scale. This can only occur when a vast wealth of knowledge and resources is quickly injected into the heart of your company, i.e. you.
Of course, even more value here is coming from the fact that most of your mentors will have been there and done that. This means that you’ll be obtaining first-hand knowledge and experience from people who’ve had direct contact with your market, your industry, and (hopefully) your customers.
Through this accelerated knowledge / learning process and procedure, you’ll be to leverage all of this to launch and scale your project with market-tested strategies to minimize risk and maximize returns.
nihub’s SCMC Accelerator
If you’re interested in learning more about how accelerator programs work or even are considering one for yourself, take a look at nihub’s own SCMC Accelerator! In partnership with the Supply Chain Management Company of the Coca Cola China System, SCMC Accelerator offers an exclusive and once-in-a-lifetime chance to innovators and entrepreneurs with a focus in supply chain management.
As the Coca Cola company looks to innovative and modernized its digital, automation, and quality control processes, they are offering a brand new and competitive program for technology-leading startups of the industry to hone in their services / product and develop alongside the global company.
For more information on nihub’s SCMC Accelerator, please click on the link below. No matter who you are, where you’re from, or what you do, take a look at the challenges detailed in the post below and apply with your own idea, team, or startup to help SCMC change the way the world bottles!