Incubators and accelerators have been exponentially expanding over recent years and here is why. The global economy is changing everyday, as more and more people realise that technology gives them the power to build anything they want and create a brand out of it. In about 10 years time or perhaps sooner, universities and schools will see a massive drop in attendance and number of students registered as everyone wants to take on the startup in fin-tech life.
Swiftly moving on, Y Combinator is the leading accelerator in the United states and offers students from Stanford and Harvard a place to accelerate their ideas into reality and then a scalable business. Airbnb went from a ‘this is the worst idea’ to ‘this is the worst idea to have worked’ – 2 young men working jobs, went out to start their own company in design and ended up building the biggest hotel conglomerate in the world without even having to own a single hotel or room. Providing users with the ability to put their room for rent on the website allowed last minute users to find a place to stay and also at a darn cheap rate. Score!
I myself am an entrepreneur besides this blog and that you guys don’t know much about so I will somehow, concisely brief you. About a year ago, I came up with an idea that would change the way users shop everyday and I got denied from an accelerator in the UK – probably amongst an array of reasons to which I will never know. However, these accelerators are amazing tools for you to seriously make your idea come to life. A team with networking power, coding skills and mentoring catapults you further than you thought you could go.
Have a little read on the story of Airbnb and let me know what you think.