5 reasons why your start up should join a business accelerator

If you want to improve your buisness fast- learning the nitty gritty side of things- then an accelerator programme could be the perfect match. Entrepreneurial Spark offer start-up support, business mentoring, workshops office space, IT and facilities all completely free in a collaborative environment.

Packed in to a structured five month programme designed to develop entrepreneurial mindsets and behaviours, they welcome applicants from idea, early stage businesses and to those who have been trading up to 5 years and/or have a £1 million turnover. You can find more information on their programmes and apply by clicking here

They have supported over 400 start-ups across Scotland, covering a diverse range of sectors, and want to pass their experience on to you. If you’re raring to kick-start your business, an accelerator programme could be the one for you. Here are their thoughts on the five key factors when considering a business accelerator. 

The Lean Start-Up

It’s about taking away those early stage costs associated with a young and vulnerable business. An opportunity to test and validate an idea or reiteration without the crippling overheads that often come in to play. The Accelerator, by its nature, will allow you to move faster, make bolder decisions and, to use ESpark terminology, #GoDo with some initial barriers taken away.

Like-Minded

Some describe it as an awakening. When you’ve spent so long trying to convince friends and family that what you’re doing isn’t complete madness. That just getting a job – wouldn’t quite cut it. An accelerator brings together like-minded individuals, all unique, all making their own path – but on a journey together. The journey of an entrepreneur, with all the rollercoaster moments, living on the edge and dreaming of making a difference can be shared. 

Collaboration is King!

Bringing together a network of inspiring and motivated individuals makes collaboration highly powerful. Covering a range of sectors and from a variety of backgrounds – the network very quickly becomes vast. With a quick chat over coffee usually unearthing opportunities you didn’t know were possible. 

Ready, Steady…Investor

The process of a business accelerator is to ultimately become investor ready. Backable, validated and defined! Whether you’re looking for multi-million pound investment, a small bank loan or customer support – the process shapes a business to define the concept, pitch and sell, sell, sell. The support, enablement, challenge and guidance are there to accelerate a growing business, with mentors on tap and networks established to ease the process – you get back what you give!

Rep or Street Cred Innit?

The business accelerator concept has really taken off, and with that comes a highly competitive application process. The approval gives huge credit to the individual who can pitch with passion and display a viable business model. The space allows for formal business practice, a place to hold meetings and introduce staff, set in comparison to working at home or from a coffee shop – ‘I mean business.' And finally the journey – a fast track in entrepreneurial learning that will allow you to drive your venture forward.

 

You can find more information about Entreprenurial Spark here. Make sure you follow them on Twitter @ESparkUK and like their Facebook page.

 

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