When it comes to starting and launching a business, founders have several models from which to choose. Each model is unique and presents its own pros and cons, and determining which is the best solution, ultimately comes down to the specific needs of the founder and their startup. Two of the most well-known models for establishing and launching successful startups are accelerators and startup studios. Entrepreneurs often confuse these two startup models; however, while they share a few similarities, they are fundamentally different in key ways. To determine what model is right for you, let’s take a deep dive into the nuances, pros, and cons of the accelerator and startup studio models.
Which model is better for launching a startup? The answer is: it depends! While both accelerators and startup studios are viable options for entrepreneurs, their approach and end results are vastly different. If you have already established the foundation of your company and are simply seeking a program that will give you a competitive edge, an accelerator is likely your best bet. Understand that, while this will give you access to expert tips and insights, your success as a company has no guarantee beyond graduation.
Infographic by: medium