It is a tricky task for startups to raise funding but One of the proven ways to do so is by joining a startup accelerator program or business incubator.
What is startup accelerator?
A startup accelerator, sometimes referred to as a seed accelerator, is a business program that supports early-stage, growth-driven companies through education, mentorship and financing. Startups typically enter accelerators for a fixed period of time and as part of a cohort of companies. While accelerator programs can provide beneficial resources to organizations at all stages of development, most focus on those that are pre-revenue.
Accelerators are said to be unique in their inclusion of all of these criteria:
- Fixed term
- Cohort based
- Mentorship driven
- Culminate in a graduation
startup accelerator look for the most promising companies at the very early stage and then invest into them.
What is business incubator?
These are programs that are backing successfully developing businesses by offering assets and services, operated by a group of expert directors and staff, as well as the access incubators’ networks and contacts.
difference between a startup accelerator and a business incubator is that Accelerators are focused on early stage startups. In contrast, incubators may take early to late stage startups and may last years. In Faranama we will offer all talented founders this two program.