5 accelerators that can make your startup grow

Startups have become one of the most common business models in the world, as technology is currently the main tool of many entrepreneurs when it comes to idealizing a new business idea. In addition to the challenges that an entrepreneur can present when starting a new business idea, the lack of funding and support can become one of the biggest challenges when it comes to entrepreneurship.

5 tips for starting and having a successful business.

There are different forms of financing which can be adapted to different types of companies. Here we tell you what are the most well-known forms of financing in the business world:

• Personal Funding: one of the safest ways to start a new business idea is to finance your venture with your own resources, such as personal savings or family funds, although this involves assuming a personal financial risk, in which you do not incur debts or commitments to third parties.
  
  
• Crowdfunding: you can get small contributions from many people through online platforms. While this type of funding is not completely secure, it can be an effective way without having to resort to investors or bank loans.
  
  
• Government support programs: many governments offer financial support programs for entrepreneurs and new startups. These types of programs, although they may be the most competitive form, are also a safe way to obtain funds without wanting to resort to banks or private investors.

A few years ago, accelerators, or also known as drivers, have been created, which are organizations that offer support and resources to emerging companies to help them grow and achieve their full potential in the shortest possible time.

These organizations provide startups access to a variety of resources, such as funding, mentoring with experts, shared office spaces, legal and accounting services, and new contacts in the industry.

These types of programs generally last around three to six months, and the selected startups must work together with other emerging companies in order to create a collaborative atmosphere.

These are the 5 most recognized accelerators globally

1. Y Combinator: is one of the most recognized startup accelerators in the world. It is headquartered in Silicon Valley and offers funding, mentors, resources and a network of valuable contacts to the startups that are selected.

Get to know here the 15 Colombian companies that have managed to join Y Combinator.

2. Techstars: operates on several continents and offers acceleration programs in different industries. This organization has helped more than 2,000 startups grow and has raised more than $18 billion in funding.

3. Seecamp: is a European accelerator that has helped more than 300 startups to grow and has raised more than $1 billion in funding. This organization offers selected startups its acceleration program, resources and mentoring with experts.

4. 500 Startups: this is a global accelerator that has helped more than 2,500 startups to grow in more than 75 countries. It offers resources and access to a network of mentors and experts.

5. Start-Up Chile: is an organization of emerging companies in Latin America that offers funding, mentoring and resources for early-stage startups. It was created in 2010 and to this day it has managed to create a network of more than 4,500 entrepreneurs around the world.

These are the most recognized accelerators in Colombia.

What are the requirements to join a startup accelerator?

The requirements for joining an accelerator may vary depending on the organization and its enrollment conditions. However, these are the requirements that most promoters can ask you for when they want to enroll your startup.

• Idea or project: to be evaluated by an accelerator you must have a clear business idea or be running an early-stage startup that has growth potential.
  
  
• Equipment: you must have a well-established team of at least two people with complementary skills.

• Potential market: accelerators are looking for business ideas that solve real problems in society.

• Business plan: It is important that you have a clear and structured business plan, together with short, medium and long term financial projections.
  
  
• Commitment and Dedication: accelerators are looking for committed founders who want to take risks and who are willing to work hard for their idea.

In short, accelerators are a very valuable tool for startups, as they provide necessary support and resources to accelerate the growth of early-stage companies, and thus increase their success in the market.