An accelerator does assist one in growth of a startup. But one has to ascertain whether or not an accelerator would be suitable for your kind of business

An accelerator in the startup ecosystem means something which facilitates further development of the product/ services that the company presents. It entails a series of procedures and has to go through demonstration processes. Y Combinator is said to be the first seed accelerator, which was founded by Paul Graham, Jessica Livingston, Robert Morris and Trevor Blackwell. This has encouraged many other companies to follow its footsteps

So how do accelerators actually assist startups?

Accelerators are well known for providing mentors who are able to guide and lend a hand to startup as it undertakes the process toward becoming a larger company. It asks relevant questions, making sure the startup is equipped to deal with the answers and develops it accordingly. But it should be kept in mind that accelerators are subjective to the category of a company.

• Accelerators lend their experience to startups.
• It scrutinizes every bit of the primary idea that the startup rests on so much, that the strength of the idea is put to test. This helps it withstand the fluctuating market.
• They can engage with a startup at any stage of its development, be it its very beginning or while it is generating revenue.

Several startups have managed to achieve success by using accelerators, but does it ascertain the same outcome each time? No it doesn’t. It may or may not prove to be a good decision, but it is based on where the startup stands at a point of time, what goals it seeks to achieve and what processes it wants to undertake to achieve the same.

Takeaways:

• Accelerator in the startup ecosystem means something which facilitates further development of the product/ services that the company seeks to present.
• Several startups have managed to achieve success by way of accelerators, but it does not ascertain the same outcome each time.