Creating a startup accelerator is an art. It’s far more than just creating a schedule and keeping to it as the founders sign up. The biggest part of an accelerator is that you have to constantly adapt and mould the schedule as new startups sign up. Unlike other businesses, you don’t get to predict what is going to happen on day one of the accelerator. All you can do is set down a foundation for work on the welcome day where you meet all the founders involved in your cohort and get their stories and visions across so you can begin to create a program around that.
If you are interested in creating an accelerator for startups, it's a whole new world out there. You have to be flexible as you won't know exactly what you are dealing with.
Starting an accelerator will take an immense amount of creativity on your part. The way you structure the program is likely different from what others are doing and it's going to be your responsibility to make sure that it all happens.
You want the startup to grow as fast as possible, but you don't want to overload it with tasks. All startups are different and you won't be creating a rigid schedule that will work for everyone.
The biggest challenge you face when creating an accelerator is that everyone who thinks they need a startup accelerator will send you an email. But that’s not the problem. The problem is – even if only 1 out of 100 contacts actually needs an accelerator, they are all in different stages of business development and ask for different things.
Having been a startup founder myself, I understand the importance of an efficient accelerator. Realised that there is some lack of information on the internet about the process of creating an accelerator program for startups so I decided to share some things I've learned and experienced in creating my own startup acceleration program.