Startup Success Series: Accelerators & Incubators 101
Accelerators and incubators – chances are if you’re a new founder, you’ve already heard these words, but what do they mean?
There are 23+ accelerators and incubators in Victoria alone. There are several programs run by universities across the state, top-notch commercial accelerators and industry specific programs. They’re all a bit different – how do you know which one is the best choice for you (if any).
Often the terms accelerator and incubator are used interchangeably, but there are some differences. They certainly share qualities – they provide guidance to startups, help advance their business, strategy and aim to prepare startups for investment or significant growth. Sounds good right? So which steps as a founder can you take to increase your chances of success when applying to an accelerator or incubator?
We’ll be covering exactly this and more for this week’s edition of the Startup Success Series! We’re joined by industry experts to take you through everything you need to know on accelerators and incubators.
Here’s what we’ll cover:
- What is the difference between an accelerator and an incubator?
- Benefits of participating in an accelerator program or incubator
- How does the ‘deal’ work? (cash/equity, etc.)
- How to get the most out of the experience
- Things to consider in the application process
- Plus more!