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Nesta Accelerators Lab

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This slide deck was used at an event at Imperial College Business School to give an overview of Nesta’s work in the area of accelerators, to outline some of the trends in the accelerator ecosystem, and to highlight current research in this area.

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Nesta Accelerators Lab

  1. 1. Accelerators jessica.stacey@nesta.org.uk @JessStacey 1
  2. 2. An overview of our accelerator work 2
  3. 3. Eight most cited needs of early stage social innovators 3 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
  4. 4. 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 4
  5. 5. Trends in the accelerator ecosystem Growth in the number of programmes Changing models More vertical specific programmes More corporate programmes Increase in social venture accelerators
  6. 6. Then…. 6 Trend #1 Growth of programmes across Europe
  7. 7. …and now 7 To date: • 213 programmes globally, 53 in Europe • 738 companies accelerated in Europe • 2034 jobs created in Europe (courtesy of www.seed-db.com)
  8. 8. Trend #2 More corporate players 8
  9. 9. Trend #3 More vertical specific programmes 9
  10. 10. 10 Trend #4 Evolving models
  11. 11. 11 Trend #5 More social programmes • Over 50 impact accelerators worldwide • These programmes were concentrated in the USA (38), India (6) and the UK (6) http://www.nesta.org.uk/publications /good-incubation
  12. 12. Trends in the accelerator model 13 • Demise of the demo day • Lengthening the period of support • Follow on funding – attempts to address the post-incubation gap • Diversification – new revenue streams and and markets • Opening up, better measurement and evaluation
  13. 13. Some criticisms of the model • They’re no different to incubators • They exploit startup founders • They’re helping to create a bubble • Good companies still fail after accelerator programmes • Mentor apathy • They’re not sustainable 14
  14. 14. There’s little evidence… Research challenges: • It’s still a relatively a new field • Defining success for programmes with different objectives • Disentangling success factors • Difficulties in defining and tracking a control group 15
  15. 15. ..however there is a growing field of research • Global Innovation Growth Lab - Nesta and Kauffman Foundation • Impact of Entrepreneurship Database Program – Goizueta Business School at Emory University, Aspen Network of Development Entrepreneurs, Kauffman Foundation • Seed rankings – Yael Hochberg and Susan Cohen • Home Run, Strike Out, or Base Hit - Sheryl Winston Smith and Thomas Hannigan 16
  16. 16. 17 acceleratorassembly.eu Seed-DB survey of startups revealed: • Mentorship and networking opportunities are the most valuable benefits of an accelerator • Generic, inconsistent mentoring can be confusing • Focus on demo day can be distracting
  17. 17. What next… 18 Networks Research Skills Funding
  18. 18. Resources Lists • www.f6s.com • www.seed-db.com • gan.co • www.startupfactories.eu • beta.capitallist.co Research and articles • www.nesta.org.uk/develop-your-skills/accelerators • yael-hochberg.com/rankings.htm • www.aspeninstitute.org/sites/default/files/content/docs/pubs/INNOV0803_003- 006_kempner_12-11-13_FINAL.pdf • https://agenda.unibocconi.it/eventi/attach/WinstonSmith%20Paper20140210165626.pdf • www.acceleratorassembly.eu/research • www.nesta.org.uk/publications/good-incubation • www.nesta.org.uk/publications/startup-factories • www.forbes.com/sites/kauffman/2012/08/08/evaluating-the-effects-of-accelerators-not-so- fast/ 19
  19. 19. Thank you jessica.stacey@nesta.org.uk @JessStacey 20

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