Things you need to know about startup pre-development
We believe that each startup worth to be written a book about, and it doesn’t matter was it successful or not. In fact, the stories of failures are even more useful in terms of sharing the experience. Before knowing how to do something, you need to find out what you shouldn’t do. Failures are a pre-requisite of success. As there’s no light without the darkness, there’s no success without failure. However, it’s painful because there’s not only your self-esteem at stake but also the ideas and money. To avoid burning out and minimize the failures or losses from them, it would be good to attend some sort of school that would prepare you for all pitfalls of the tech world. Fortunately, since 2005 there was a spread of startup accelerators. They did not only educate young idea-cherishers but also made the initial investments and helped to find the potential funders.
Now, there are plenty of such companies all around the globe. In the previous article, we talked about the North American startup accelerators and compared how they differed from startup incubators. Their key working principles are FIND, INVEST, TEACH, SUPPORT. First, accelerating companies choose a certain amount of promising ventures. The numbers differ — some choose to work with a small number of clients and invest more time in them, others invite from 50 to 300 startups per quarter or year and aim to show as many projects as it is possible. Then, they teach — some choose a 5-day-based study, others — 1 intensive day per week. Usually, accelerators invite the best professionals in tech whose startups turned out to be hits in the past. Then, they help the ventures to detect and fix their weak points — it can be design, navigation, business plan, or lack of employees. Then, on your demo day, you rise and shine, showing the investors how the world could adopt your energy by using your app. That’s the process. However, remember, it does not prevent you from failures. Although all the companies write on their websites about wins only — the numbers of failures may also be high. Accelerators only improve some aspects of your work and help you show yourself to the tech world. To make your project launch be prepared for fails and remember about these things:
- There will always be competitors, and they may be the alumni of the same accelerator;
- Consider your studies as a way of improvement, not a magical pill. There is a lot of work after launch;
- What’s more important when you start your venture, apart from money and knowledge? Network. The more people you know and communicate with, the more possibilities are open to you. However, to establish truly trusting relationships with the community, be patient — it may take a year or two (if not more);
- If you target the wrong target audience, you fail, inevitably;
- Embrace your failures, even if you are not proud of them. In fact, now people who failed several times and still tried again are more precious than those who succeeded from the very beginning. When you make mistakes, you are bound to analyze them to keep moving. Thus, you have a valuable experience to offer.
Now, let’s continue to develop a variety of startup accelerators around the world. This time, we target Australia’s most successful and professional startup alma maters.
List of startup accelerators and incubators from Australia
The team of professional entrepreneurs from Innovyz is dedicated to making each community-valuable idea to grow and spread around to make the life of many people easier. They target not only startups but many non-profit organizations and even universities. Basically, we will not be wrong that at the core of Innovyz lays the value of the idea, and it doesn’t matter where it comes from. What counts is its application to the modern world issues.