But what you probably didn’t know is that these digitally native giants got their start with successful exits from startup accelerators. Startup acceleration is playing an increasingly important role in the early-stage startup ecosystem, as observed by the proliferation of accelerator programs in the United States and abroad in the past decade.
This is done in a coordinated manner with the objective to provide innovation and economic or strategic return to each of the parties involved.
Startup accelerators are cohort-based programs* that provide mentorship services, education, networking, and recognition for early-stage startups that want to scale their product or service rapidly.
Between 3 to 6 months, which lends itself to the intensive and quick learning process they involve.
Usually in exchange for a percentage of company equity, accelerators provide startups with seed funding.
Cohorts involved are invited to participate in a Demo Day, where they present their pitches in order to raise money from notable investors.
*The requirements, duration, application phase, number of cohorts, and seed investment provided, however, will vary depending on the program.
The goal is in the name: startup accelerators exist to accelerate your startup’s growth.
Startup accelerators help entrepreneurs turn their learning and knowledge into action.Because of their notably short durations, startup accelerators allow entrepreneurs to take what normally takes years worth of learning and work, and streamline it into just a few months, with an emphasis on learning by doing. Startup accelerators provide:
Principally, they facilitate real scale testing and validation of startup solutions in an established time period.
Startup accelerators also provide educational resources and services to help guide entrepreneurs through the complexities of growing their businesses.
These programs also promote engagement with other stakeholders and leaders in the industry, which provides the opportunity for future collaboration.
The network and the relationships that you can form during an accelerator program can help you to further achieve your growth strategy and acquire the right resources, even after the program close.
With a certain competitive advantage.
On some occasions, startups stand out that have advanced the investment status in the pre-seed phase.
The program can prioritize those solutions that have a Minimum Viable Product (MPV) that has been developed and tested.
To benefit from acceleration services, a solution must have the potential to grow customers or new markets of interest to its audience.
With a defined CEO or Business Director and CTO or Technology Director, who is entirely dedicated to the program. Since mentoring is something elemental in acceleration.
BUSINESS AND LEADERSHIP
User centered design
Technology and compliance
Relational capital and networking
What’s more, accelerators have a proven success rate of helping startups scale their businesses, with benefits extending to all stakeholders involved, such as investors and corporate partners. However, this success is greatly dependent on the commitment of the founders and members involved in the program. Accelerators assume a substantial investment in terms of time and engagement from all team members involved.
If you are committed to achieving growth rapidly and efficiently and willing to make a substantial time commitment, accelerators can be incredibly rewarding for your startup. However, the results don’t simply occur overnight; consistent hard work is required.
Before you decide whether a startup accelerator is right for you, it’s important to have your business objectives clear and understand the process and responsibility that your startup’s participation implies.
Remember, not all accelerators are the same. The most useful ones are those with the most established connections to a wide network of investors.
Cemex’s strategic presence across the Americas, the Caribbean, Europe, Africa, the Middle East and Asia, along with its trade relationships in 96 nations and notoriety as one of the world’s top traders of cement and clinker, can provide your startup with the resources and network required to ignite its growth!
Moreover, if you want to make connections and gain valuable insights from the industry in which you’re operating, it can be advantageous to join an industry-specific accelerator program.
Our vision is to build a better future together, so we are looking for startups that have new and revolutionary solutions related to our four main focus areas: Green Construction, Enhanced Productivity, Construction Supply Chain, and Construction’s Future is Now.
Our purpose is to invite, support and give visibility to global entrepreneurs who are willing to disrupt the construction industry and are interested in accelerating their solution’s development by leveraging CEMEX’s resources and industry knowledge.
Cemex Ventures Leaplab’s offering includes:
Be part of the next edition of the Leaplab acceleration program!
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