Joining a business accelerator program isn’t the right choice for every entrepreneur, and it doesn’t guarantee success. For a selected few, however, it provides a much-needed jumpstart towards a more promising future. My third company, Retention Science, is a graduate of MuckerLab, a mentorship-focused accelerator based in Santa Monica, California. Here are my thoughts on the pros and cons of accelerator programs.
1. Curriculum and Clear Structure
Business accelerator programs typically consist of three to six months of crash courses, speaker series, and professional workshops designed to help you learn a lot in a very short period of time. Certain accelerators conclude their programs with a Demo Day, where entrepreneurs publicly debut their products to a group of peers, tech reporters, and investors. By establishing a clear schedule of classes and milestones, the program helps entrepreneurs stay focused and reinforces the need to be agile and move fast.