The emergence of numerous start-up accelerators across the world has left start-up founders spoilt for choice when it comes to utilizing a program to accelerate company growth. Accelerators are no longer located only in Silicon Valley and neither are they designed only for technology companies. This widened access to accelerators can be immensely beneficial to new start-up founders, although all accelerators are not the same. It’s critical to consider the characteristics of each program before participating, only to ensure that the time and resources spent will translate into valuable returns.

Below are a few consideration points before committing to a one program over another.

Networks & Connections

What are the networks that you are given access to? The most powerful takeaway for any start-up in an accelerator is access to relationships; ranging from peers, investors, partners, customers, advisors and even talent. Obtaining access to a ready-network saves valuable resources poured into creating and sustaining new relationships to bolster growth and achieve company objectives.

Access to Capital

How much funding does the team need? Does that align with the investment provided by the accelerator? Does participating in this program increase the chances of raising capital once the program is over? Start-up teams should not optimize to meet valuation terms and should definitely evaluate the motivations behind any investment. Compare what is being given away to what is being received to determine the real value add of any accelerator.

Relevance & Fit

What industry does this accelerator focus on? What stage start-up is a best suited for this program? Past successes do not necessarily translate into success for every type of start-up. With the inability to cater to all the technology start-ups that exist, most accelerators have created a niche for themselves – and potential participants need to assess the impact of that niche on their business.

Mentorship Team

The mentorship team is a critical element of any accelerator program. The team needs to have experienced first-hand the mentality and culture integral to the start-up environment. Having a founder lead a team of founders creates a supportive community and attitude that all business owners thrive on. Evaluate the mentors on their knowledge and expertise not only in the industry but also their understanding of how tech companies operate, to provide relevant insight and advice to participants.

Program Alumni

What is the success rate for past program participants? What are their current valuations and how much capital was raised? Have companies been acquired or shut down? This research into quantifiable program results can provide some insight into the level of success the program can offer to participants. Past alums can also provide inside information into the culture and support structure within the program, probably much more than from the accelerator itself.

Program Principals

What is the level of engagement between start-up teams and mentors? Is collaboration between founders encouraged during the program? What is the accelerator looking to achieve out of their program and investment? The program principals define the very structure of the accelerator – defining the team involved, the companies participating, the curriculum as well as success objectives and priorities.