Accelerators typically offer start-ups a set amount of funding, business advice and mentoring, and often introductions to useful contacts and networks. They can also offer technical expertise and help with product development. In return for this support most accelerators require an equity stake in the company.
Usually the reason a business uses an accelerators is to help them scale-up, commercialise more rapidly and increase their visibility with a view to attracting a large scale financial investment.
Typically an accelerator works with start-ups for limited amount of time, often just a matter of months, or as part of a date-specific accelerator programme. During this compressed time period, the objective of most accelerators is to stress test the business idea or product, the ‘go to market’ strategy and the determination of the individuals involved.
Successful navigation through the programme doesn’t guarantee funding but does enable participants to thoroughly test their business proposition. For those who struggle it provides an opportunity to revise their plans or even start again – the ethos is ‘fail early, fail fast’ then pick yourself up and go again.You can find out more about accelerators, and how they are different from business incubators, by clicking here.
Accelerators for Greater Manchester
Below you will find a number of accelerator programmes which support start-ups in Manchester.