jess stacey nesta - momolo 17th feb
DESCRIPTION
This pack was presented by Jess Stacey at Mobile Monday London 17th Feb 2014TRANSCRIPT
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Accelerators Mobile Monday
Jessica Stacey / @JessStacey
17 February 2014
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Research questions
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The building blocks of an accelerator
Focus on teams, rather than individuals
Operates in cohorts or classes
Offers pre-seed finance (usually in
exchange for equity)
Time-limited support, with intensive mentoring and
programmed events
Application process open to all, highly
competitive
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Accelerator trends
Growth in the number of
programmes
Changing models
More vertical specific
programmes
More corporate
programmes
Increase in social venture accelerators
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Then….
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Trend #1 Growth of programmes across Europe
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And now…
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To date: • 45 programmes in Europe • 424 companies accelerated • Total exits $17,000,000 • $105,377,697 in funding • 1162 jobs created (courtesy of www.seed-db.com)
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But can it last?
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Trend #2 More corporate programmes
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Trend #3 More vertical specific programmes
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Trend #4 Evolving models
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Trend #5 More social programmes
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The funding gap
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Criteria of UK impact investors. Startups must be: • be revenue generating • have a proven business
model • have a measurable social
impact • have a proven management
team • have capital requirements
of £150,000+
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Eight most cited needs of early stage social innovators
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1. People to work with
2. A proposition to test
3. Potential (and actual) customers
4. A source of advice about
the basics
5. A source of trusted
strategic advice 6. Money
7. Somewhere to work
8. Emotional support and mentorship
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The innovation journey
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Some criticisms of the model
• They exploit startup founders
• They’re helping to create a bubble
• Good companies still fail after accelerator programmes
• Mentor apathy
• Manager dependency
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Resources
http://www.f6s.com/
http://www.seed-db.com/
http://gan.co/
http://www.startupfactories.eu/
http://beta.capitallist.co/
http://www.nesta.org.uk/develop-your-skills/accelerators
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