Accelerator programs can be critical to the success of a start-up company, but entrepreneurs face steep competition even being accepted to a top accelerator.
At FoleyTECH Chicago 2016, the speakers on the “Exploring the Role of Accelerators in the Entrepreneurial Ecosystem” panel discussed how an entrepreneur can strategically optimize a start-up company’s chances of being accepted into a top program.
Applying and being accepted into an accelerator program is not unlike trying to gain entrance to a university or securing that first job out of school. It’s a detailed process requiring attention and follow-through that should include the following:
Throughout the process, an entrepreneur should be honest and upfront with the accelerator. Top accelerator programs review hundreds or thousands of applications per year and will recognize start-up puffering. Respect will be gained by pitching the company’s vision while being down to earth and open to feedback.
Accelerators present a great opportunity to leverage a valuable resource. While competition to work with top accelerator programs is increasing, an entrepreneur can take calculated steps to improve a start-up company’s chances of acceptance into a top program.
This piece originally appeared in Milwaukee Journal Sentinel’s OnRamp blog.
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