Accelerators are designed to offer seed funding to early-stage businesses and start-ups. Some experts compare them with boot camps. They help companies in exchange for equity and offer know-how, contacts and networking, and low-cost office space. There are domestic and international accelerators as well as second-stage and seed ones. The latter emphasize innovative business models and offer funding and services. Depending on the program, mentoring and support is offered for a period of 2 to 6 months. The main goal is to expand and achieve rapid growth. Start-up companies benefit from the fact that accelerators have access to diverse networks and economic resources. The goal is to build collaboration between start-ups and universities, software companies, large manufacturers, etc. Accelerators are there to help businesses with their business plans, financial models, and licensing agreements. Unfortunately, they are very selective.
Infographic courtesy of Datacatalyst
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