role of the business accelerators in smart startup development. results of mba thesis, artūrs...
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THE ROLE OF THE BUSINESS ACCELERATORS IN
SMART STARTUP DEVELOPMENT
July 14, 2015 Artūrs Zandersons
Business acceleration 1/4
Combining the benefits of co-working space, incubator & investor
Making the money smart
Elements Co-working space Venture capital Incubator Accelerator
Lenght Not defined Years Years ~ 90 days
Entry criteria - High Low Extremely high
Environment - - Nurturing Growth oriented
Office space Yes - Yes Yes
Consulting services - Some Yes Yes
Strong curriculum - - - Accelerator programme
Instructors / mentors - - Some / staff Yes, pre-selected
Funding - Investment - Yes, pre-seed funding
Follow on support - Follow-on investment Some Yes (equity stake)
Business acceleration - targeted set actions to boost the development and growth of a
startup company.
Business acceleration 2/4
Top 5 Accelerators
Accelerator statistics (by seed-db)
2005 – the first accelerator is established
234 programs world-wide (2013)
4858 companies accelerated (2013)
311 exits for $ 3,525,448,600 (2013)
$ 12,074,800,002 follow-up funding (2013)
USA EUROPE
Y Combinator 841 companies Startupbootcamp 140 companies
TechStars 527 companies Seedcamp 118 companies
5000 Startups 359 companies Springboard 110 companies
DreamIt Ventures 197 companies Openfund 40 companies
Angel Pad 98 companies NDCR Launchpad 30 companies
Business acceleration 3/4
Accelerator programme operating model
Demanding acceptance process 1-3% acceptance rate
Initial funding 10 – 30 th.EUR pre-seed investment
Equity stake 6 -8%
Time-bound 3 – 6 months
Intense training programme / curriculum
Entrepreneurship (lean startup)
Business modelling (Business model canvas)
Presentation skills
Creation of Minimum viable product
Sales & marketing
Mentoring Business, Technology & specific mentoring
Intense networking With experts, startup owners, investors, entrepreneurs
Incubator servicesOffice space, secretary, consultancy service (legal,
marketing etc.)
Competition elements Jury assessment of the best companies
Demo day Final pitching and demo event
Accelerator business model
Accelerator programme
• Managing accelerator training programmes
• Providing consultancy services
• Publicity & marketing
Accelerator fund
• One or more private or public investment funds
• Pre-seed investments
• Follow-up investments in portfolio companies
+
Accelerataor Y Combinator TechStarsStartup
BootcampStartup Sauna
Startup Wise
Guys
Country USA USA Denmark Finland Estonia
Year of creation 2005 2007 2010 2010 2012
Segments IT, High tech IT High tech IT IT, B2B business
Participants in one programme 65 10 10 15 8
Duration of a programme, days 90 90 90 49 49
Seed investment th. EUR 10 – 18 5 - 16 15 0,15 30
Equity stake 2 – 10% 6% 8% 0 8%
No. of accelearated startups 841 485 130 - 24
No. of exits 101 55 3 - 0
Value of exits 2,2 billion EUR 156 million EUR - - 0
Attracted funding to portfolio
companies4,5 billion EUR 1,13 billion EUR
19,65 million
EUR- 1,66 million EUR
Business acceleration 4/4
Startup Ecosystem – aggregation of elements that support creation and
development of startups through interaction of elements.
Startup Ecosystem 1/3
Market
People
Infrastructure
Funding
Culture
Regulation & Legislation
Elements of Startup Ecosystems Interaction between accelerator
and Startup Ecosystem
Accelerator
Investors
StartupsMentoriAccess
Information
Infrastructure & Funding
Startup Ecosystem 2/3
Infrastructure
Funding
Ideation Concepting Product Validation Scaling
Am
ou
nto
fS
tart
up
s
Establishing
Development
stage /
Ecosystem
Elements
Hacatons / idea cometitions
Incubators
Accelerators
Growth support instruments
Grants. awards
Angel investment
Pre-seed investment
Seed investment
Venture capital
Bank, financial instrument
Growthe capital
100% 50% 20% 5% 3% 1%
Access to infrastructure & funding in Latvia
Startup Ecosystem 3/3
Infrastructure
Funding
Ideation Conceptization Product Validation Scaling Establishing
Development
stage /
Ecosystem
Elements
Nozaru biznesa inkubatori
Garage 48, Startup Weekend u.c. konkursi
Nozaru klasteri
Tehnoloģiju pārneses kontrolpunkti
Kompetences centri
Ārējo tirgu apguves instrumenti
Mill Riga, Birojnīca u.c. kopstrādāšanas centri
Techub Riga u.c. privāti inkubatori
Egloo u.c. atbalsta inkubatori
Arcana Hub, Idea Bits
Seed Forum Riga
Demola Latvia
Ideju kauss
FabLab, Design Factory
RHTU Meetups / TechChill / labs of Latvia / startuphunt
LIAA grantu shēma, Atspēriens
Imprimatur Pirms sēklas
Imprimatur Sēklas fonds
Imprimatur Start up fonds
FlyCap Start up fonds
EBAN
FlyCap Pamata fonds
ZGI Sēklas fonds
ZGI Sākuma fonds
ZGI Izaugsmes fonds
Expansion capital
Privāts ārvalstu riska kapitāls
Balt Cap
Commercialization Reactor
ENTER mini-akselerators
ALTUM programmas
LGA aizdevumi / garantijas
LatBan, Amber Sea
Nordea Biznesa skola
Komercbankas
