Bringing a new business to life has never been so affordable. With dozens of business incubators and accelerators in the Bay Area, young businesses thrive and almost anyone can become a participant in an incubation program. Visiting great Silicon Valley incubators is a must-have option in the most of the executive training sessions SVIC organizes. In this post we will tell you what kind of magic happens in tech startup incubators, and give you some reasons why you should visit them or why Silicon Valley is the best place to found and fund a startup.
Paul Graham, founder and mentor at Y Combinator, calls advisers that work full-time the startup incubator “experienced detectives”. One of their roles is to detect the best ideas, find answers to a lot of tricky questions and guide founders in building not just a piece of software, but a business. In 2005, Y Combinator developed a new model of startup funding. Twice a year they invest a small amount of money ($14-20k) in a large number of startups. The startups move to Silicon Valley for 3 months, during which they work intensively with YC advisers and partners to get the company into the best possible shape. In Y Combinator and other incubators, startups get access to exclusive mentors and investors; a lot of participants say that 11 weeks in YC were the most productive time in their lives.
YC brought into the world such companies as Dropbox, Disqus, AirBnB, Scribd, Coinbase and others.
The promise of “500 startups” accelerator is to make the startups go boom. Their business model is to give a startup firm what it needs to grow and lift sales process. This is not just an office space and curators’ help; it’s about building an emotional and intellectual environment in which innovation develops. 500startups claims to blow young tech companies with three components of success: design, data and distribution. With its unique mentorship program, the incubator helps startups design solutions that bring in customers; make marketing decisions based on hard data; and make sure the product gets in front of the right people. 500startups did seed investments in such companies as Markerly, Fileboard, Visual.ly, RidePal and others.
Famous Plug and Play accelerator is a global trend-setter in incubation business. One of its novelties is the vertical acceleration, which helps founders to get direct access to industry decision-makers and receive guidance from corporate partners. The idea behind vertical acceleration is to create narrow area incubation programs where entrepreneurs would get instant access to the biggest companies of a particular industry, and the biggest industry players, in return, get the fist-hand innovation insight.
There are dozens of startup incubators in Silicon Valley. Whatever the startup community of your choice is, each of them holds unique Bay Area innovation spirit.
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