Entrepreneurs are some of the most passionate people out there. You have to be if you’re trying to build a company from scratch. But even the most passionate among us can get burnout. Confused. Lost along the way.
It helps to have a guiding force behind you to give you a little extra push. This is what accelerator programs bring to your startup. Saying an accelerator program is “a small push” is a bit of an understatement, given the great things they bring to your company.
1. Support
Accelerator programs provide startup support in a few ways. Not counting proper funding – we’ll get to that in a minute – accelerator programs often come with professional support systems your startup may need in the future, even if it doesn’t now:
- Financial advisers
- Legal counselors
- Patent guidance
- Regulatory experts
These professionals do a world of good for your decision-making, helping you validate concepts, navigate legal compliance issues, and identify growth opportunities.
Accelerators like Road2 have spent years developing relationships with local and global companies to help your startup succeed. These experts offer diverse perspectives across verticals and much-needed guidance to develop and achieve maximum growth.
Additionally, these ecosystems of support create the infrastructure needed to transform ideas into real-life solutions. From concept validation to product testing, there’s a lot a professional network can bring to your startup.
Typically, accelerators provide material benefits such as office space, supplies, or staffing support. They may also provide performance and growth data, analytics, or other key performance indicators that ensure your business is on the right track.
While many accelerators are backed by either public or private funding sources, Road2 is unique in that it offers access to the collaboration of both multinational corporations and public agencies. This coordination gives startups access to both public and private funding options that provide nearly endless business opportunities.
Road2 is excited to have a partner like NVIDIA, which allows participants of the accelerator program access their AI Lab and supercomputers. The lab is supported by its engineers, AI architects, data analysis, and onsite training. This is just one part of the infrastructure the accelerator program offers which also includes beta-sites and office space.
2. Funding
Naturally, accelerator programs provide funding for startup development. These programs may partner with public/private alliances and international partners that have substantial resources to invest in your enterprise. These alliances are just as committed and passionate as you. The difference is that their passion involves using their assets to develop businesses that solve real-world problems (as well as potential issues within their company).
More broadly, these relationships involve building professional connections between entrepreneurs, local investors, and international companies. You’ll have opportunities to pitch to investors and develop your own personal relationships. Early-stage networking is essential to acquiring investments that lead to long-term growth.
As you build these networks, you’ll have more opportunities to develop your startup into something that shows even more potential for return – allowing you to position your startup for future funding. In other words, it’s not just about the money. It’s about generating the critical momentum needed to get your startup off the ground.
Road2 takes it to another level with their international partners, not only offering to fund startups, they want to become your first customer. For example, with our Environment 4.0 program focusing on Energy, Environment, and Sustainable Economy, companies like the Israeli Electric Company, Bazan, EDF, and Johnson Mathey, are looking for startups to solve real challenges they are facing.
3. Knowledge
In addition to funding and professional support, accelerators offer access to elite mentors, and been-there, done-that founders who bring their expertise to work for your startup.
After all, accelerators aren’t merely about securing funding. They’re about growth and learning the skills essential to running a business, whether that’s marketing, communications, finance, or even technical skills to prepare for the future.
Accelerator programs like Road2 support these goals by bringing together the best minds in the industry. These partnerships leverage decades of collective experience across various mentors to speed-up startup growth and help you avoid common pitfalls. Road2 also has the backing of internationally known institutions like the Technion, and Rambam Health Care Campus that hosts a wealth of knowledge. Just some of the many advantages the city of Haifa has to offer.
Aside from being great for your own skillset as an entrepreneur, these programs are ideal for developing your team’s abilities. For example, accelerators help founding teams develop essential documentation that they may be unfamiliar with:
- Business plans
- Five-year financial forecasts
- Sales and marketing strategies
- Technology implementation roadmaps
Part of this means bringing your team up to speed on risk management practices, both as a training exercise and as an organizational goal.
Accelerators help identify the risks within your concept and determine how to minimize them. Those guiding your program will provide insight into all areas of potential risk in your company as well as teach you how to manage it effectively.
Kick-Start Your Startup Growth
Accelerator programs have become a popular way for entrepreneurs to get a leg up in an increasingly crowded marketplace. If you’re tired of struggling with DIY (do-it-yourself) entrepreneurship, then join the startups leveraging the resources of professional programs. Road2 wants to get you to the next level of your development.
Whether you’re a startup founder or an investor looking for a new opportunity, there’s room for you in the Road2 network. Contact us to learn more.
