Accelerators are a key part of the startup ecosystem as they support new ideas and ventures, particularly in a country like India where historically there isn’t a long culture of startups. Accelerators help spur that activity, they create deal flow (for other investors), help scale businesses and encourage entrepreneurship. Hence startup acceleration programs have a positive impact on regional entrepreneurial ecosystems, particularly with regard to the financing environment. Organizations where an acceleration program is rolled out, subsequently have more seed and early-stage entrepreneurial financing activity, which appears not to be restricted to accelerated startups themselves, but spills over to non-accelerated companies as well — occurring primarily from an increase in investors.
“Padup Venture provides virtual acceleration programs for "disruptive & innovative technology" based early stage start-up to build a scalable business model.
Padup’s Virtual Acceleration Program supports early to revenue stage, growth-driven companies through education, mentorship, and financing.
Start-ups enter the acceleration program for a fixed period of time and as part of a cohort of companies.
Padup’s acceleration experience is a process of intense, rapid, and immersive education aimed at accelerating the life cycle of young innovative companies, compressing years’ worth of learning-by-doing into just a few months. Early-stage Incubation programs often do not have these collective elements. Padup Acceleration Program may share some of these elements with others with the goal of cultivating early-stage start-ups, but it is clear that they are different, with distinctly different business models and support structures.
Like Padup’s Incubation Program, its Acceleration Program is also driven through a very structured deep mentoring program delivered by ‘been-there-done-that’ business mentors and domain experts who act as knowledge mentors.
The key lesson is: start-ups that find helpful mentors seem to be significantly more successful and hence Padup Acceleration Program is driven through mentorship.
Startups that graduated from Padup programs see an acceleration in reaching key milestones, such as gaining customer traction, time to raising venture capital and exit by acquisition.
Post Padup Acceleration Program, the accelerator graduates are more investable as they go through a customer-centric lean-start-up methodology to build sustainable business that can be scaled with capital.
Padup acceleration program is primarily about learning and not credential signalling to future investors, selection bias, or previous founder experience at top companies. In other words, the value of Padup acceleration program is real and comes from the intensive learning environment itself.
Most accelerators use “capital raised by graduating start-ups” as a metric of success – and it’s definitely great to see companies leave accelerators and be in a position to raise capital – but it’s not the ultimate measure of success. Most companies raise money and fail. In the absence of exits (with successful entrepreneurs then re-invigorating the community through help, funding, etc.) a start-up ecosystem can’t grow on top of itself.
Padup believes that Accelerators are great for building the start-up ecosystem, but they won’t survive and achieve that goal without their ‘start-ups’ being successful. Start-ups’ success is their success, and to succeed they must add value from both the program and the start-up perspective.
Padup Acceleration Program would be a success if it returns meaningful money back to investors. That’s absolutely the case, although with a model that focuses on early exits, one expects it to take a good number of years to see results. In the meantime, Padup judges its own progress, iterates and improves, and figures out how things are going periodically. This is “acceleration to value creation.” The goal for each start-up has to be product-market fit, and Padup aims to accelerate them as quickly as possible to that goal. But value creation can also be measured in part by other criteria: follow-on funding raised, user acquisition, revenue, etc. These are all criteria Padup evaluates in real time and will continue to evaluate as our start-ups progress through the process. Beyond metrics, one has to fundamentally believe that it is creating value for and with the start-ups.