Get All Access for $5/mo

7 Tips to Find the Perfect Accelerator -- or Your Soul Mate Use this foolproof plan when looking for your business's ideal match.

By Scott Bailey Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

Pixabay

There are plenty of fish in the sea. Wise -- and true -- words often heard when one is searching for a potential life partner. And rather strangely, also true when referring to the current state of startup accelerators around the world.

In the hunt for an accelerator, you need to find one that suits your business, a program that will equip your early-stage venture with the necessary support through the ups and downs of its entire life. And that's a huge commitment.

So how, exactly, do you know when you've found The One? Here, tips to help you find -- and recognize -- the startup accelerator of your dreams.

Related: Learn How to Truly Leverage an Accelerator's Network

1. Know yourself

What does your startup aim to do? What resources will you need to help expand your idea into a business? Some startup accelerators cater to specific niches and industries, while others take a more general approach. Keeping this in mind and narrowing down your options accordingly will force you to double down on the specifics of your startup's goals.

2. Meet their friends

What's the community surrounding the accelerator like? Before making any decisions, research the successes and engagement of the alumni, mentors and partner network, and see if it's the kind of network you'd like to tap into. The best accelerators have an active and involved stakeholder network and dedicated members that are invested -- both emotionally and financially -- in helping to build on your entrepreneurial goals.

3. Gauge their personality

Make sure you trust the organizers. The team members behind an accelerator are essentially the custodians of your startup's future. Look for trends in the operational behavior of the accelerator. Spot habits early on that don't align with your goals. Use Google to see if they have any skeletons in their closet.

Related: Stuck at the Idea Phase? These 6 Collaboration Avenues Can Help.

4. Build a life together

A relationship with an accelerator should be mutual. While the accelerator should connect you with all of the resources your startup needs to succeed, you should be willing to provide your own expertise to other startups in the program and continue engaging beyond the accelerator period. Collaborate and build something together. Find out what the accelerator values in their startups. Do they want equity? Connections? Applicant referrals? Answering these questions will help you gauge whether the relationship is heading in the right direction.

5. Communicate

Keep the team at your choice accelerator updated. Brag about your successes, but seek council for your failures. Set expectations early on so the accelerator can help you leverage the most value from your time.

6. Make sure they love you despite your faults

Not every startup is 100 percent perfect. Find an accelerator that sees the high-impact potential in your weaknesses, and make sure they commit to helping you transform that weakness into a strength. Does your startup occupy a quirky niche that's hard to find a target market for? A good accelerator should be willing work closely with you to create that market if one doesn't yet exist.

7. Commit

Invest in an accelerator as if you were investing in an amazing date. You have to build a relationship to reap all the benefits. At MassChallenge, some of the most successful startups are those that actively engage with events, panels, workshops, alumni, sponsors, the team and other startups. A lack of commitment can easily be translated into a lack of passion, and both qualities can significantly impact an experience with an accelerator -- and a relationship.

Related: TechStars and R/GA Team to Support Hardware Development

Scott Bailey

Managing Director of MassChallenge

Scott Bailey is the managing director of MassChallenge in Boston, an accelerator set up with the aim of catalyzing a global renaissance by connecting high-impact startups from around the world with the resources needed to launch and succeed rapidly.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

At 16, She Started a Side Hustle While 'Stuck at Home.' Now It's on Track to Earn Over $3.1 Million This Year.

Evangelina Petrakis, 21, was in high school when she posted on social media for fun — then realized a business opportunity.

Health & Wellness

I'm a CEO, Founder and Father of 2 — Here Are 3 Practices That Help Me Maintain My Sanity.

This is a combination of active practices that I've put together over a decade of my intense entrepreneurial journey.

Business News

Remote Work Enthusiast Kevin O'Leary Does TV Appearance Wearing Suit Jacket, Tie and Pajama Bottoms

"Shark Tank" star Kevin O'Leary looks all business—until you see the wide view.

Business News

Are Apple Smart Glasses in the Works? Apple Is Eyeing Meta's Ran-Ban Success Story, According to a New Report.

Meta has sold more than 700,000 pairs of smart glasses, with demand even ahead of supply at one point.

Money & Finance

The 'Richest' U.S. City Probably Isn't Where You Think It Is

It's not located in New York or California.

Business News

Hybrid Workers Were Put to the Test Against Fully In-Office Employees — Here's Who Came Out On Top

Productivity barely changed whether employees were in the office or not. However, hybrid workers reported better job satisfaction than in-office workers.