An accelerator works as a program that accelerates the process of the growth of externally developed ideas. Usually, they offer workspace, capital, coaching, networking, and administrative services. The main difference between accelerators and incubators is that accelerators work with externally developed ideas, take a lesser amount of equity, and usually work on a 3–4 month basis.
The business accelerator program is intended for startups that have already moved through the earliest stages of getting established and entered the phase where they mostly need guidance and peer support to “grow muscles” and gain strength.
Accelerator doesn’t fit for less developed “newborn” companies. They require extensive care and support from a business incubator.
The duration of an accelerator program is two to six months. The main goal for the companies in the program is to get ready to run on their own, build strong positioning, and develop strategies to establish themselves in the target markets.
