A Framework for Entrepreneurs to Assess Business Accelerator Programs
Fischer, Erica (2019)
Fischer, Erica
2019
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201905139513
https://urn.fi/URN:NBN:fi:amk-201905139513
Tiivistelmä
The purpose of this study was to examine best practices in the business accelerator
industry as presented in the literature. Business accelerators offer entrepreneurs access to
education, mentors, and investors through fixed-term, cohort-based programs. The
accelerator model of supporting startup companies first appeared in 2005, and now it is
estimated that more than 3000 programs exist around the world. Accelerators exchange
access to resources for equity in young companies. Accelerators are often used by
investors to filter companies and locate the best teams and projects.
The participants in accelerators need to understand how accelerator program design
choices impact company outcomes. Entrepreneurs joining accelerator programs seek to
speed their development and maximize their chances of success by accessing accelerator
resources, knowledge, and networks. In exchange, accelerators take an equity stake in
participating companies and make a seed investment. To give proper consideration to the
potential costs and benefits of joining an accelerator, an entrepreneur needs to
understand the findings of researchers. Literature reveals that researchers have identified
key program design choices that impact outcomes for participating companies.
Through an in-depth literature review, these design choices were identified and used to
construct a preliminary framework to aid entrepreneurs in their evaluation of accelerator
programs. The framework guides entrepreneurs to locate historical data on accelerator
performance using public data sources. The gathered data can be used to evaluate
accelerator programs prior to application or matriculation in an accelerator program.
Entrepreneurs can consider their goals and expectations for accelerator participation and
determine which accelerator programs are aligned with their needs.
industry as presented in the literature. Business accelerators offer entrepreneurs access to
education, mentors, and investors through fixed-term, cohort-based programs. The
accelerator model of supporting startup companies first appeared in 2005, and now it is
estimated that more than 3000 programs exist around the world. Accelerators exchange
access to resources for equity in young companies. Accelerators are often used by
investors to filter companies and locate the best teams and projects.
The participants in accelerators need to understand how accelerator program design
choices impact company outcomes. Entrepreneurs joining accelerator programs seek to
speed their development and maximize their chances of success by accessing accelerator
resources, knowledge, and networks. In exchange, accelerators take an equity stake in
participating companies and make a seed investment. To give proper consideration to the
potential costs and benefits of joining an accelerator, an entrepreneur needs to
understand the findings of researchers. Literature reveals that researchers have identified
key program design choices that impact outcomes for participating companies.
Through an in-depth literature review, these design choices were identified and used to
construct a preliminary framework to aid entrepreneurs in their evaluation of accelerator
programs. The framework guides entrepreneurs to locate historical data on accelerator
performance using public data sources. The gathered data can be used to evaluate
accelerator programs prior to application or matriculation in an accelerator program.
Entrepreneurs can consider their goals and expectations for accelerator participation and
determine which accelerator programs are aligned with their needs.