Accelerators are a kind of sandbox for startups. They provide young companies with resources, mentorship, and funding to grow strong, healthy, and independent. However, in recent years, the principles behind how accelerators operate and their impact on the market have changed dramatically. We spoke with Alexander Kopylkov, a seasoned investor and entrepreneur, who has been observing the evolution of the startup ecosystem for two decades. He shared his thoughts on the role of accelerators and the key lessons startups can learn in 2024.
Think big from day one
A startup without ambitions to become a multinational holding company or join the S&P 500 is like a soldier without dreams of becoming a general. Accelerators will give you connections and teach you scaling techniques, but they won’t teach you to think big or aim globally. Without a grand vision, all the resources of an accelerator will be wasted on you.
You’ll learn how to pitch your ideas, build scalable business models, and develop go-to-market strategies. But without a significant goal to aim for, you won’t even scratch the surface of these skills. Transitioning from local to global thinking is critical for success. For example, fintech giant Revolut, with its ambitious vision, quickly grew from a local service into a multinational player with millions of users.
Squeeze the most out of accelerators
Accelerators aren’t just about funding. They offer connections, mentors, and tools for work. Without an accelerator, gathering these resources might take years, but here, everything is in one place within a unified ecosystem. Not taking full advantage of this is simply foolish.
In 2024, a clear trend toward industry specialization among accelerators became evident. There are specialized programs for fintech, biotech, and AI-powered startups, such as Plug and Play Fintech. Their expertise, resources, and mentor experience have become even more relevant and narrowly tailored, increasing the success chances for each startup within the right ecosystem.
For instance, with my guidance, a logistics startup joined an industry-specific accelerator. Within six months, they had a ready product and secured a seed round.
Focus is key to survival
A common rookie mistake is trying to do everything all at once. This has sunk dozens, if not hundreds, of startups. Accelerators teach you to focus on primary tasks and allocate resources wisely.
2024 trend: Virtual accelerator programs
In 2024, accelerators continued to embrace the shift to online formats. While this isn’t exactly new, the lesson here is that startups from smaller cities or teams working from different parts of the world now have the same opportunities as those with a more traditional approach.
Geographical barriers no longer exist. Inclusivity has also improved for entrepreneurs from all walks of life. Be among the first to seize this opportunity.
Artificial intelligence is your friend
Sarah Connor might not approve, but the most advanced accelerators have already begun using AI to personalize mentorship and track startup progress. This has boosted the efficiency of learning and entrepreneur adaptation.
Don’t resist the trend or try to prove that you know yourself better than AI does. When the process is properly set up, AI can ease your path to success.
Corporate accelerators aren’t always a marketing trick
But remember, there’s no such thing as a free lunch. A common story in 2024: large companies launch their own accelerator programs to stay on top of the latest innovations and collaborate with newcomers.
Sometimes this turns into a success story: a startup grows and becomes an independent but loyal market player. However, the opposite also happens: a large company absorbs the newcomer and turns it into one of its divisions, stripping it of its voice and influence over its own development. Be sure to carefully review the terms of participation regarding intellectual property rights for all materials created during your time in the accelerator. Basic legal literacy is crucial for any entrepreneur—don’t overlook it.
Community is power
Regardless of whether your startup succeeds (and anything can happen), there is one thing that will stay with you for life: your connections and relationships.
Don’t overlook the opportunity to build strong professional, and sometimes even personal, ties. They form a support system, a source of knowledge, and a chance to learn from others’ mistakes—not just your own.
Be careful with equity
Sometimes giving up equity in your company is worth it if you’re gaining funding, tools, and opportunities in return. But sometimes startups give away too much and get too little.
You must protect your interests and read agreements carefully before signing. A recent case involving an edtech startup showed how equity dilution can be fatal. The founders gave up over 40% of their company to an accelerator and investors, losing control. As a result, their product was shut down in favor of short-term profits.
Your expectations are your responsibility
You enter the program with one idea, but you’re pushed in a different direction. In the end, you’re disappointed, and your expectations go unmet. Unfortunately, I see this happen all the time.
Not all accelerators are suitable for everyone. You must understand that each one has its own goals, which may not align with your long-term objectives. Try to figure this out early on, before starting your collaboration. Ensure that the accelerator’s values and resources align with your goals.
The main thing to remember:
Each of these lessons confirms that an accelerator is just a tool. How you use it depends entirely on you.
Top 5 Accelerators for 2025 According to Alexander Kopylkov
- Y Combinator (USA)
- A classic. This is where Airbnb and Dropbox started. Participants can receive up to $500,000 and quickly enter the market. However, competition is fierce, and the rigid Silicon Valley structure doesn’t suit everyone.
- Techstars (Global)
- If you need access to technology, marketing tools, and valuable connections, this is your choice. Techstars operates in many countries and focuses on building strong communities. However, the programs are intense and can overwhelm unprepared teams.
- Station F (France)
- The Paris giant. The world’s largest startup hub, specializing in AI, fintech, and other innovations. The downside? A strong focus on the local market. Global players might find it challenging to adapt.
- Plug and Play (Global)
- An excellent choice for those who want to integrate into large corporations. A powerful network of partners, especially in tech and fintech. However, meeting the high demands of the corporate world can be challenging, particularly for newcomers.
- 500 Global (formerly 500 Startups)
- Focused on startups from emerging markets. Helps establish connections with global investors. It’s a great option for entering international markets, but scaling at different stages can present its own challenges.
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