6 Startup Accelerator Programs to Support Your Startup’s Growth
For startup founders who are trying to develop their companies, following the startup accelerator and incubator programs is one way. The term accelerator and incubator is still often considered to have the same meaning, even though it is different, you know. Both of them do indeed facilitate startups from the workplace, business training, mentoring, and seed funding.
The accelerator aims to “accelerate” the company’s growth. This program usually has a fixed term, from a few weeks to months. The founders will work with mentors to build a business and find solutions to existing problems. Usually, accelerators support startups by providing investment, mentoring, or consulting.
There have been so many startups that joined accelerator programs and become very advance in business. Hence, a startup founders should start considering to join one of the available programs to accelerate the growth of their startups.
Well-known Startup Accelerator Programs in Indonesia
1. Plug and Play
Plug and Play Indonesia (PNP Indonesia) is part of the PNP Tech Center, which is a global accelerator program with a mission to assist in succession in digital technology. With its headquarters in Silicon Valley, the Plug and Play business network includes more than 200 corporate partners, investors, universities, and other related partners in retail, fintech, Internet of Things (IoT), media, and cloud computing.
2. Google Launchpad Accelerator
A program initiated by Google to help selected startups accelerate their business and technology. With Launchpad Accelerator, Google is committed to continuing to foster several talented startups, including in Indonesia.
Besides Indonesia, Google Launchpad Accelerator also opens opportunities for startups in several countries such as India, Thailand, Vietnam, Malaysia, and the Philippines and several countries on other continents. The startup process that passes the selection will be flown directly to Google’s headquarters for intensive development.
In addition to the 2-week Bootcamp at Google’s office and the 6-month incubation program, startups (specifically mobile solution developers) will also receive equity-free funding of up to $ 50,000. The Launchpad Accelerator program itself is focused on countries with potential startup growth. This program targets being able to embrace 50 new startups per year.
In addition to solving problems, Digitaraya also seeks startups with good leadership and can have a positive influence on the startup ecosystem in Indonesia. Digitaraya will focus on startups in the fields of agriculture, education, health, tourism, logistics, and energy.
This program will be conducted for three months per batch, as many as two batches per year, and eight startups per batch. There are three programs to be given, namely sprint design, business models and go-to-market, and management skills and pitch refinement.
Digitaraya offers several things at startup, including proven curriculum, connections to the Google network, access to global investors, mentoring with global mentors, partnership opportunities, and connections with relevant regulators.
In collaboration with Google Developers Launchpad, Digitaraya will get an elite network of global top accelerators, so that selected startups can take advantage of available information and resources.
Digitaraya will also get full access to Google’s network from around the world, Google’s learning in running a startup program based in Silicon Valley, and the results of Google’s research and experience for 20 years in building businesses, products, and teams on a large scale.
Ideabox is a joint program driven by Indosat Ooredoo, Mountain Partners, and Kejora which aims to raise the potential of Indonesian startups through the aid of initial investment funds and give special awards to startups engaged in the internet and telecommunications sectors.
Ideabox focuses on four things; strengthening market size, strengthening business and operational models, strengthening products, and growth. And finally preparing for a startup for funding pitching.
5. GnB Accelerator
This is a joint acceleration program between Fenox VC and Infocom Corporation. The program, which runs for three months, offers mentorship, support, training, and funding. During the program, each participant startup will receive an investment of around Rp.666 million, co-working space facilities, and guidance from mentors.
In terms of material, the GNB Accelerator is more focused on market-fit and team preparation to be better prepared in funding. While not targeting specific categories, health-tech startups, e-commerce, on-demand, and fintech are the main targets.
6. Alpha Startup
This acceleration program is the result of a strategic partnership between 1337 (Leet) Ventures, Gobi Partners, Baidu Indonesia, and Convergence Ventures. The first batch of this program has been started in the middle of 2016. There are no specific specifications for the startup category that can enter this program.
Alpha Startup also provides facilities in the form of a guidance program and various facilities, including workspace, productivity support facilities from AWS, and also an investment injection of IDR 325 million.
But actually, if you look at the material presented, Alpha Startup is included in the pre-accelerator scale. They are among startups who already have ideas but are in the validation stage. The coaching process in it helps startups validate, related to products and market share. One outcome that was even generated from this program was the maturation of MVP (Minimum Viable Product).
The Benefits of Joining a Business Accelerator Program
The role of the accelerator is arguably very important for the progress of a startup. In fact, some startups think that accelerators are mandatory to be followed to get funding. In fact, the benefits offered are more than just funding.
Great accelerators are accelerators that have quality mentorship. Accelerators will help you to establish direct relationships with entrepreneurs, executives, and large investors who want to share experiences, feedback, and guidelines to accelerate the development of your business. Every knowledge that you want to master can be easily obtained.
Usually, accelerators have extensive connections with Investors. By joining the Startup Acceleration Program, you will certainly feel this benefit. In addition to getting acquainted directly, the Accelerator also often holds pitching sessions that you can take part in to attract Investors.
Not only that, but the accelerator will also help you to ensure that you have a business that is attractive, healthy, and has a clear future. That way, you are ready to answer every investor’s question so that the opportunity for greater capital entry. Joining a startup accelerator program will provide many benefits for your startup.
(Read also: 5 Tech Startup Ideas You Might Want to Try )