Should we apply for accelerators with proprietary technology?

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(Last Updated On: July 13, 2015)

Question from Quora forum: “We have developed a technology that gives us our only real advantage in our particular market. We need to raise capital but, should we be shotgunning applications to accelerators/pitching at business plan competitions or just be more low-key & seek Angel/VC funding?”

Answer by Dragana Mendel:

Shotgun approach sounds like waste of energy to me. Accelerators require significant time commitment, so you want to chose wisely. I am NC Ambassador for The Cleantech Open, accelerator that focuses on cleantech startups that will fit into our broad 8 categories. Almost all of our semifinalists have IP and significant technological advantage. Would your technology fit here? Or can you find a different accelerator that specializes in your industry? Such accelerator already has connections to investors in the space, so your fundraising effort could be easier.

Accelerator or not, fundraising is always hard, time consuming and frequently necessary for technology heavy startups. I work frequently with startups that are commercializing technologies straight from the University lab: Investor-Ready Consulting. Feel free to contact me directly if you have specific questions that I can answer for you.

Good luck!

Should we apply for accelerators with proprietary technology?

About Dragana Mendel 87 Articles
Dragana Mendel is a President and Principal Consultant at ANAGARD, LLC. In her role, she provides management consulting services to small and medium size businesses on the best strategy to achieve their short and long term goals.