Recruiting and selecting the right startups is another crucial part of accelerator programs. As any venture capitalist will tell you, people are the most important factor in startups. When so many things could go wrong, you're making a bet on the team to work it out and get stronger as they grow.
Like any recruiting process, you'll need to spread the word to where the desired candidates are, explain the value proposition, and make it easy to apply so that you get enough qualified applicants. Selecting among the applicants and filtering down to those who can truly make an impact comes next.
IF YOU BUILD IT, THEY MAY OR MAY NOT COME
The goal of most corporate accelerators is to achieve strategic returns. This starts with attracting the best startups to your program who have the potential to scale quickly and disrupt your industry – the same startups whose goal is likely to replace your company!
Just because you build an accelerator program that works for your own company doesn't mean the right startups will want to join your field of dreams. In order to attract the best companies, you need to have a clear value proposition with compelling reasons for the startup to participate. It has to be worth it for these budding competitors to potentially work with you instead of against you. This is not always so easy, as big companies and startups ...
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