I just found my old note from GAN Summit last year at Denver CO, an amazing networking with +70 accelerators around the globe. What you can learn from +100 people including managing directors, program managers, mentors, founders and LP´s could be great: years, experiences, fails and the most important: THE FUTURE.
Nothing is written, but, the trends are really clear. Accelerators, like we know them, are not a sustainable business model, at least not for most of the accelerators.
One of the most impressive talks was given by Timothy O´Conell from H-Farm, a public company created in 2005 focused on entrepreneurship and digital economy. The name of the talk was: Accelerating the change, the future of our industry (accelerators). This post is based on it.
How we (like accelerators) make money today? 1) Exits, somewhat still being the dream of any accelerator, and 2) Reality, money through services and sponsorships. The problems are time and risk.
Tomorrow there will be 10K accelerators in the world, that makes a competitive environment for good entrepreneurs, investors, mentors and everything needed at accelerators.
Five key changes (by Tim):
- Verticalization/Specialization – this is key if there are 10k of us, we need to have a specialization/uniqueness
- Corporate/Industry – this is an amazing area that can provide a huge support to the industry
- Educational/Universities – every university is starting an accelerator so there is a lot coming out of this space. We need to say, “Hey, you’re great at doing a lot of things but probably not entrepreneurship”
- Growth Focus
To be a success in the near future we need a proven method, extensive network, flexible focus and great partners.
The future is here, everybody jumping in the entrepreneurship complex environment. Universities creating accelerators, Corporates getting in the game, accelerators creating universities and more fun and rapid changes happening now.