What is a Private Startup Accelerator Program?
A private startup or seed accelerator program typically supports business growth through mentoring, coaching, guidance, and education for 3-4 months. When applying to an accelerator program, founders are expected to have an idea, prototype, or product. In exchange for exposure to an extensive range of mentors and seasoned entrepreneurs to help fine-tune your business model, develop your product, and connect you to investors.
In addition, private accelerators offer basic funding to help cover travel and living expenses to attend an in-person program. However, all this comes at a price. Joining an accelerator will typically cost a cut of your business profits, and many programs take around 5% to 10% equity as payment.
At the end of the program, on Demo Day, you can present your offerings to prospective investors, the press, and other interested parties. For competing startups, cash funding prizes can be won.