Why An Accelerator Can Change The Game For You
As Michael Dell said “Ideas are commodity. Execution of them is not”.
As a founder, do you have all the essential props - support ecosystem, access to investors, a clear picture of potential customers, and funding - to hurtle you into the big leagues? If not, it’s time you went hunting for an accelerator to make your idea market ready.
As eager entrepreneurs explore and flood the Internet of things (IoT), Artificial Intelligence (AI) and Blockchain (BC) startup ecosystems - it would decidedly help you as a founder to have domain and business experts provide the much-needed mentorship, networking, and funds that will help turn the tables in your favour and accelerate your growth trajectory.
This is particularly true for startups in the IOT/AI/BC space, since the industry is still at a nascent stage and is a rapidly evolving labyrinth needing skilful navigation. Says Adarsh Natarajan – the founder of AIndra, “The results published in the field of AI may not always translate into in-field results. AI being a nascent field - working without the help of prior literature is tough and can be challenging to deal with at times”
To enable you to find the right accelerator to fast track your business, we listed:
7 Accelerators You Need To Check Out Right Now If You Haven’t Already
One size does not fit all, and not all accelerators might align with your vision or value system. So we bring you a list of 7 IoT/AI/BC startup accelerators that will have you spoilt for choice:
1. Open to every industry vertical
Y Combinator – Y Combinator was amongst the first few startup accelerators and is now listed as one of the top 3 accelerators in the world. YC’s estimated portfolio is worth about $80 billion – this comprises of 50 companies worth at least $100 million and several with net worth above $1 billion – famously amongst them are Airbnb, Dropbox, and Stripe.
They provide seed funding to startups and partner with them to strengthen their proof of concept and go to market strategy. They also help founders and entrepreneurs deal with investors and acquirers and it may not be a rare sight to see founders hobnobbing over weekly dinners with high ballers like Mark Zuckerberg and Peter Theil – as part of the program. YC as an accelerator has helped launch 1900 companies publicly and backs everything from brick and mortar to deep tech startups. Some of the deep tech startups backed by YC are Coinbase, Thalmic, and Allure Systems.
You can familiarize yourself and apply for the YC Programs here.
2. Tech startups with social impact
IMPACTECH – Singapore based ImpacTech is a business consultancy and accelerator program for startups in the South East Asian region. It differentiates itself as a leading accelerator that empowers tech startups creating social and economic impact. It also provides customized acceleration programs, workshops, mentorship, consulting services, and various bespoke activities. ImpacTech has been voted as the 2nd best accelerator in Asia as per the Asia Tech Podcast and has also received positive press from Forbes in 2016.
You can apply for the IMPACTECH accelerator program here.
3. Powering FinTech in Malaysia and Hong Kong
Fintech SuperCharger - SuperChager provides larger access to network, corporates, and capitals. Each accelerator program has a unique value proposition and targets companies at different stages of growth. Primarily based in Malaysia and Hong Kong - it is reportedly the only FinTech accelerator targeting early and growth-stage startups in this region. Industry giants such as Standard Chartered Bank, Chinese online giant Baidu, and coworking space operator TusPark Global Network sponsor the SuperCharger accelerator programs.
You can supercharge your startup and take advantage of their Programs here.
4. For startups active in Telecommunication
Singtel Innov8 Connect – Singtel Innov8 is the venture capital wing of the Singtel Group and invests in and partners with potential tech startups across the globe. With a fund size of US$250 million and its own set of decision-making, approval, and funding processes - the accelerator also provides a gateway for startups to tap in to the resources and expertise of the Singtel Group. Innov8 focuses on technologies and solutions that can lead to radical changes in network capabilities, next generation devices and digital services, and enablers to enhance customer experience. The group is headquartered in Singapore and has offices in San Francisco and Tel Aviv.
You can learn all about the Innov8 accelerator here.
5. With focus on founders and individual entrepreneurs
The Asia Accelerator - As the only independent traditional startup accelerator program in Singapore The Asia Accelerator scouts for the top startup founders in the region. They offer a 4-month intensive program that provides founders with the resources needed to scale their growth. Primarily headquartered in Singapore it has programs where cohorts travel to the Silicon Valley and San Francisco for the international leg of the program.
You can get to know all about The Asia accelerator Program here - https://www.theasiaaccelerator.com/
6. For IoT startups looking for connections with big players
IoT Tribe – The IoT Tribe’s mission is to act as catalysts and strengthen ties between startups and corporates. They aim to partner with startups and get them to their first big enterprise sale, while also providing their corporate partners ready access to the technologies that can fuel their businesses. They have industry sharks like Rolls Royce, Innovate UK, and Sage as partners – to name a few. They are the force behind deep tech startups like Gartenzwerg, Proxigroup, and Metis Labs.
You can take advantage of the IoT Tribe Program by applying here.
7. Mentorship capital
GSF Global Accelerator - The primary objective of the GSF accelerator is to spur innovation and promote entrepreneurship. Their key aim is to provide informed and knowledgeable mentorship capital to the startups. Headquartered in India, they have been the driving force behind thriving deep learning and AI startups like Silversparrow, HeyMojo, and YellowAnt. Their focus is on health-tech, media and advertisements, analytics, deep learning and AI, consumer and FinTech.
Take advantage of the GSF Global accelerator here.
A lot of people have great ideas, but there are a handful of lion-hearted entrepreneurs who relentlessly pursue their dreams and become successful startup founders. Accelerators today are integral to a startup’s success and may well be the magic genie that you have been looking for to boost your journey to startup nirvana.
Looking for ways to boost up your startup? At Interchange, you can: