The MBA Alternative

Got a great idea for a startup but lacking resources?

Entrepreneurs often consider going back to school for an MBA. But, there’s a cheaper, quicker option that helped turn Dropbox, Zynga and Foodzie into household names — trend accelerators.

Accelerators, such as Y Combinator and TechStars, give startups access to resources otherwise hard to come by. Generally lasting three to four months, they offer founders a small investment in exchange for a small stake in the company.

Participating companies also receive access to free office space, business services, networking opportunities and mentoring.

Most accelerators cater to seed and early-stage startups. So, these programs typically conclude with a “Demo Day,” during which founders have the opportunity to pitch angel investors and venture capitalists.

Is an accelerator right for you?

“If you have an idea for a startup and feel like you’d learn more from jumping in and getting your hands dirty, then you might be better off in an accelerator program,” according to Jen Consalvo, co-founder of Tech Cocktail.

Finding the right accelerator requires research.

Consalvo’s team compiled their top recommendations into these helpful reports, which breaks down: industry, application process, selection and the success rate of individual companies.

Divided into categories like Location, Funding, Mentorship, Networking and Incubators (a more casual type of accelerator), it is a resource to help entrepreneurs choose programs tailored to their needs.

Bonus PINK Link: Entrepreneurs struggle to scale their business to the half-a-million dollar mark. Here’s how the founder of Dermalogica grew to $260 million.

Would you consider an accelerator over an MBA? Why or why not?

By Sonya Washington

“The richest source of creation is feeling.” Anais Nin