What is an Accelerator?
In the entrepreneurial ecosystem, we are faced with several new terms, as for example is the case of business accelerators. After all, what is an accelerator?
Accelerators are spaces where more mature startups will have intense contact with the entrepreneurial and innovation universe to transform their business and make them attractive to large investments in a short time. The main focus of an accelerator is to ensure the scalability of the business that resides in it. In accelerating startups, they will have access to specific mentoring, physical spaces, growth and survival programs for business development, and contact with a networking network that can greatly accelerate the business journey.
Accelerators usually invest a small amount in their betting startups (this can be done in the form of stock control) so that they can survive to break evenwhere they can pay their bills with the billings of their products and services. In addition, many accelerators are in direct contact with investors seeking validations and ideas that they believe are worthwhile. In practice it is known that some accelerators also end up investing in harsher ideas that could be in the incubation phase even though they believe to be good bets, that is, not necessarily the accelerators are focused only on mature ventures.
We must remember that the purpose of an accelerator is not to support the business structurally, that is, giving it space for laboratories and fixed offices. The character of the entrepreneurial experience within an accelerator is transient and determined in time by the parties. Therefore, when entering an accelerator, its startup will close a contract for a certain period in which, if the expected business expectations are not met, the program may be terminated.
Is 100 Open Startups an Accelerator?
While 100 Open Startups also help entrepreneurs around the world get their ideas off the paper and validate them directly with the market, it does not fit the concept of the accelerator.
This is because the methodology is based on an online platform, where projects are registered and presented to experts, executives and investors according to a matchmaking algorithm, which considers the evaluator’s interests and expertise in the suggestion of startups.
This network of more than 10,000 evaluators is then invited to leave a note on their perception of the project, from A to D, written feedback to help the entrepreneur improve his business model, and state whether he has an interest in continuing to contact the solution or not.
The startups that stand out most within the platform are invited to face-to-face events, where they have the chance to accelerate negotiations and opportunities for sale, investment and partnership.
There is therefore no physical or even exclusive acceleration of participating startups who can apply their ideas and solutions at any time of the year — the flow of the platform is continuous — and the selection is made only for face-to-face events according to performance and manifestations of interest that the startup receives from the network of evaluators.
There is, in fact, an integration of the methodology with the service performed by the accelerators, both models being complementary: startups that have undergone an acceleration process receive the benefit of Fast-Track within the platform, already entering as Level 2 and being presented directly to executives.
How about signing up for your project today? Go to https://startup.openstartups.net and sign up.