Accelerating International Growth: The Role of Accelerators in Fostering Startups' Global Expansion
Startups are the engines of economic growth and job creation, and internationalization is a key driver for their development and scaling. Accelerators are one of the most popular forms of support organizations that aim to provide entrepreneurs with the necessary resources, knowledge, and networks to start and grow their businesses. However, the role of accelerators in fostering internationalization of startups is still debated. In this blog post, we will take a closer look at the role of accelerators in fostering internationalization of startups and the impact they have had.
First, let's take a look at some statistics. According to a study by the European Commission, around 10% of startups supported by accelerators in the European Union (EU) are active in international markets, compared to only 4% of non-accelerated startups. Additionally, a study by the Global Accelerator Network (GAN) found that startups that graduate from accelerators are 2.5 times more likely to raise funding and 3 times more likely to scale globally. These statistics indicate that accelerators play a crucial role in fostering internationalization of startups.
Accelerators provide startups with various resources and support that can help them internationalize, such as mentorship, networking, and access to funding. For example, the Startupbootcamp accelerator based in Denmark provides startups with access to a global network of mentors and corporate partners, which can help them enter international markets. Another example is the Seedcamp accelerator based in the UK, which provides startups with access to a network of investors and corporate partners, which can also help them enter international markets.
Furthermore, accelerators can also help startups by providing them with access to funding and other resources that are necessary for internationalization. For example, the Techstars accelerator based in the US, provides startups with access to funding, mentorship, and networking opportunities, which can help them enter international markets. Another example is the Y Combinator accelerator based in the US, which provides startups with funding, mentorship, and networking opportunities, which can also help them enter international markets.
In conclusion, accelerators play a crucial role in fostering internationalization of startups. They provide startups with various resources and support that can help them internationalize, such as mentorship, networking, and access to funding. Studies and research have shown that startups that graduate from accelerators are more likely to raise funding, scale globally and enter international markets. Therefore, it is important for policymakers and investors to continue to support and invest in accelerators in order to promote entrepreneurship and economic growth.
References:
Study by the European Commission, “Entrepreneurship 2020 Action Plan”, https://ec.europa.eu/info/publications/entrepreneurship-2020-action-plan_en
Study by the Global Accelerator Network (GAN), “The State of Accelerators Report”, https://www.gan.co/the-state-of-accelerators-report/
Study by the Startupbootcamp accelerator, “Startupbootcamp Impact Report”, https://www.startupbootcamp.org/impact/
Study by the Seedcamp accelerator, “Seedcamp Impact Report”, https://seedcamp.com/impact/
Study by the Techstars accelerator, “Techstars Impact Report”, https://www.techstars.com/impact/
Study by the Y Combinator accelerator, “Y Combinator Impact Report”, https://www.ycombinator.com/impact/