Entrepreneurs with a startup idea have always found it hard to get their feet off the ground. Mainly, the difficulty lies in getting the initial and adequate funding you need to spring up and spending it in the right way to elicit growth. Well, with startup accelerator programs, there’s a way for entrepreneurs to scale their business in a short period. The concept is relatively easy to understand; you apply for these programs, and then you go on a 3-month intensive program with the aim of developing as an entrepreneur and learning how to grow your company. If you were taken in by that, it was just the tip of the iceberg. The juice is that successful applicants receive something called ‘seed money’ to invest in their business – in return for equity. On average, you can get anywhere between $20-50,000 investment from these programs, so it’s well worth looking into. As of right now, there are 186 startup accelerators in North America, with 3,296 businesses receiving investment through them. This amounts to approximately $107.3 million! In truth, the hope of investment is what attracts most entrepreneurs to these programs, but you get so much more than that. Once accepted,…
