With the rise of Silicon Valley, entrepreneurship is fast becoming a popular career choice for the fresh graduate. The increase in new enterprises also bolstered the industry for startup acceleration. Not only is Silicon Valley the ideal environment for tech startups to grow and mature, but it is also the ideal hunting ground for incubators, venture capitals and angel investors. Just as startups seek to differentiate themselves out of the millions of startups out there, startup accelerators themselves must also start to prove that they are a worthy incubator to cut the best deal.
This got me interested in the different startup accelerators out there. For today, my focus would be on I/O ventures. It's founder, Paul Briegal, came down to my college for an informal sharing session.
They have the basic criteria of most incubation programs out there - a pool of qualified and experienced mentors. But three things that I found really unique and could potentially be their winning formula are
- Accessibility - Mentors are not remotely situated up on their ivory towers
- Focus on casual setting - Emphasis on an informal environment so that startups can let their hair down and comfortably share.
- Focus on relationships - Win. Securing investment is not usually a one-off decision. Building relationships with the investor is key.
Innovation is not just seen among startups, but clearly among incubators as well. Startups now not only demand money, but "smart" money. Money that comes with advice and skills that will take their business higher, faster and bigger. It would be exciting to see how Silicon Valley and the global entrepreneurship scene will develop in the next 5 years.
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