For the brandingīeing associated with a well-known accelerator like Y Combinator or Techstars can give your startup credibility and attract attention from the media and investors. Building relationships takes courage, initiative and nurturing – and no one will give their time and skills for free unless they believe in you: but that won’t change within an accelerator. There are plenty of in-person and online events, communities like Y Combinator, and social media platforms like LinkedIn, Twitter, and Discord where you can connect with like-minded people. But do you really need an accelerator to meet them? To build a networkīeing part of a startup community can be hugely beneficial, and accelerators can give you access to mentors, investors, and other talented individuals who might have the complementary skills you need to bring your idea to life. If, on the other hand, you’re not confident in your idea yet, seek inspiration and validation elsewhere before quitting your career to try the founder life. You may get better deals than with accelerators, who “take more” because they provide more than just money. If you believe in your idea and can prove your chances of success, consider raising funds elsewhere.Īpproach VCs (they’re actually quite keen to meet), apply for grants, crowdfund, or pitch to angel investors. However, keep in mind that funding comes with strings attached: accelerators don’t offer the most generous deals, and you’ll be giving away a good portion of your company without the ability to negotiate the deal. Many programs offer pre-seed or seed funding in exchange for equity, which can be a fast compromise to get started.

This is probably the biggest draw for startups considering an accelerator or incubator. So, you’ve got a killer idea for a startup and you’re considering joining an incubator or accelerator to kickstart your journey into success.īefore you dive in headfirst, let’s take a closer look at the reasons why you might want to apply, and whether the benefits are worth the costs.

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