A brand new venture starts with a dream or a vision on how the world can become a better place. Prior to launching a company, founders will begin a journey of bringing that vision to reality.
In the process of solving a brand new, and often unexpected set of problems, every entrepreneur is faced with the choice of how they should proceed. Do they pivot, adjust, and tweak their idea to adapt, or do they dig deeper and persist with their original plan?
There are infinite resources available to an entrepreneur in the digital age, and while that is definitively a blessing, there is also a new challenge in sifting through the wealth of information.
Incubators programs are specifically designed to solve the issues faced by the earliest stage ventures, giving them the basic resources - sometimes on a long-term basis - to find their way through the chaotic wealth of information, guidance, and opportunities that can derail the core vision an entrepreneur is pursuing.
While an incubator is an invaluable resource for these early-stage ventures, the specific services offered are not the same as those needed by a startup that already has a path plotted out and even some traction in the market. That is where our accelerator programs come in.
When a venture has some momentum and is already on their way towards realizing their vision, they have a different set of necessities.
The problems and challenges more mature projects face are very different, especially when sifting through the vast amount of resources and information that is available.
The adage that, “it is not what you know, but who you know” rings more true than ever.
In the journey for a project to go from One to the Moon (or at least landing amongst the stars), is going to directly reflect the connections and guidance they receive along the way.
Accelerator Programs, like Genius X, are one of the most tried and true ways for a new venture to take their vision, and rapidly refine it to not just survive in the real world, but to soar higher than anyone would have expected.
The resources offered by an accelerator program are much more bespoke to the needs of a venture that is ready to scale. They are also more rapidly implemented since the vision is clear.
From technical auditing or legal advice to leadership and management practices, the best accelerators provide the necessary mentorship, resources, and fundraising to launch a project to its full potential.
Mentorship in life has been an integral part of what it means to be human and reinventing the wheel has never been an evolutionary advantage. Accelerators in their current form have not been around long but they are centered in human social evolution.
Y Combinator is commonly considered the first modern business accelerator having the likes of Airbnb, Coinbase and OpenSea on its list of projects. Founded in 2005, Y Combinator set the stage for what would become a wave of thousands of other accelerator platforms.
With the proven success rate of businesses that graduated from an accelerator versus those that didn’t, it stands to reason that there is a high level of competition for projects to join and often the acceptance rate is usually less than 1%.
The popularity of many business accelerators is a powerful testimony to the credibility and success bestowed on their graduating businesses, but there is also a scaling issue, as the larger the number of participating businesses, the less direct guidance and mentorship they receive.