Startup Acceleration Onderzoek

An exploratory study
on the tools critical
for developing startups
into profitable businesses,
based on the best practice cases
of Dutch accelerators
Accelerators’ critical elements for Startup Success
© Eelke Pollé, 2018
Nyenrode Business
University

Problem Statement: Startup Issues
170.000 new firms founded in NL in 2017
Source: CBS (2018)
© Eelke Pollé - 2018 - Nyenrode Business University

After 5 years:
Source: Deloitte & THNK research

O,5% Scale-up
(>10 million dollar turnover)

O,5% Scale-up
(>10 million dollar turnover)
0,025% Unicorn
(>1 billion dollar value)

✝ Human capital
✝ Capital
✝ Resources
✝ Stress
Source: Truong (2016)

RecommendationsStartup Helpers
Government
Universities
Coaches
Investors
Accelerators
Source: Campbell et al (1988)

Recommendations
© Eelke Pollé, EMBA14, Nyenrode Business University
Startup Helpers
= Accelerator
A for-profit organisation providing a fixed term, cohort based program providing services
that solve entrepreneurial issues to selected startups in exchange for equity.
Investment
Incubator

Current state of the literature
Accelerators, a rather new phenomenon
Source: Brookings Institute

Current state of the literature
Existing studies focus on:
Configuration or Impact
The gap
?

Aim of this study
Hochberg (2016): "additional research should asses which types of programs
or program elements are most important for the success of an accelerator"
à Bridge the scholarly gap
à Practical value for accelerators

Methodology
Methodology
1. Literature analysis:
a) Defining Accelerator, Startup and Success
b) Which tools have a possible relation with startup success?
à A priori template
2. Empirical research:
What do Dutch accelerators regard crucial for startup success?
à Data from interviews with 11 from 12 Dutch accelerators,
inquiring a priori themes and leaving space for new themes
3. Template analysis:
Which a priori themes were regarded crucial, which were not
mentioned/regarded crucial, which new themes appeared?
à Definitive template

ResultsResults from Empirical Research
The PASPRO Model – Pollé's Accelerated Startup Process Model
1 2 3 4 5

1 2 3 4 5
25% of all startups fail because they do not have the right team

1 2 3 4 5
40% of all startups fail because there is no market need

1 2 3 4 5
20% of all startups fail because of a poor product

1 2 3 4 5
30% of all startups fail because they lack investment

1 2 3 4 5
20% of all startups fail because of poor marketing

1 2 3 4 5
20% of all startups fail because of conflict, stress or lack of focus in the team

ResultsConclusions
1 2 3 4 5
Accelerators focus on 3 steps, leaving gaps in the process:

Results
Recommendations
For the whole ecosystem (all startup helpers, investors, educators, government): build bridges
1 2 3 4 5

Results
Recommendations
For Accelerators: 1. Develop pre-program or partnership for talent development
1 2 3 4 5
Questions to address:
à How do you know which co-founder you need, and where will you find him?
à How can you test if your team is compatible, also in stormy weather?
à How do you gain the basic entrepreneurial skills and knowhow before taking off?
à And how do we connect this help to Accelerators for step 2?

Results
Recommendations
For Accelerators: 2. Develop investment ready accreditation/ own VC fund
à How could we bridge the gap between what startups need and can offer after the
validation phase and what angels and VC’s desire be bridged?
à Should accelerators have their own VC fund?
à What is the role we want the government to play?
1 2 3 4 5

Results
Recommendations
For Accelerators: 3. Develop post-program, in-house resources or partnership for access to market
à How could B2C startups be helped to get access to market quickly?
à Should accelerators have their own Marketing department?
à Should marketing experts partner with accelerators and take shares to solve the issue of the
limited marketing expertise and limited budget for marketing?
1 2 3 4 5

Results
Recommendations
For Accelerators: 4. Develop tools or partnerships for personal and team dynamics support
à How can we help startups deal with conflict, disharmony in team, lack of focus and stress?
à Should Accelerators have their own Organizational Psychologist?
à Should Organizational Psychologists partner with accelerators and offer their expertise in
exchange for shares to solve the issue of the startups’ limited budget for coaching?
1 2 3 4 5

Further information
Eelke Pollé
+31 (0)624 538 824
Eelke@PolleProductions.nl
www.PolleProductions.nl

Startup Acceleration Onderzoek

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