Accelerators

Accelerators are structured, time-bound interventions designed to fast-track the development of early-stage ventures through a combination of capacity building, training, mentoring, access to finance and technical consultancy support. Ventures participating in accelerators usually have a specific scope or objective, for example, to speed up access to new markets, or to expand internationally.

Accelerators are typically cohort-based and themed (for example, by sector), with participants selected through a competitive process often involving a written application form and an interview. Newer accelerator concepts blend cohort-based activities with on-demand services, leading to more customised support for participants.

Accelerator business models can also be equity based (where they take a percentage of equity from ventures, in exchange for programme participation and small seed funding investments), fee-based (where participating ventures pay a cash fee to participate in the accelerator), rely on corporate sponsorship (where accelerators are funded by private sector companies), or be funded by the public sector.

 Further reading

• Department for Business, Energy and Industrial Strategy — Business Incubators and Accelerators: The National Picture

• Beauhurst — Accelerating the UK

• Centre for Entrepreneurs — Incubation nation: The acceleration of UK startup support

• Anastasia Bektimirova — Full Speed Ahead: Accelerating Britain’s network of startup support programmes