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Five Reasons Why Your Startup Should Work with a Corporate Accelerator

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Headquartered in Bengaluru, Societe Generale Global Solutions Centre is a fully-owned subsidy of the European banking major – Societe Generale. It provides services in the areas of Application Development & Maintenance, Infrastructure Management, Business Process Management, and many others, to Societe Generale’s business lines around the world.

Some of the most innovative companies have embraced accelerators as a means to work with disruptive startups. India has embraced this trend and is not far behind. It’s only third after China and the United States respectively. Corporate accelerators in India form nine percent of the overall accelerator and incubator opportunities that exist in India. That may not seem big but for truly innovative companies have discovered the benefits, leading the way to more opportunities for startups. A corporate accelerator is a symbiotic relationship in which startups benefit the most. Here’s why it’s so great to work with a corporate accelerator program.

All the Resources You Need in Place
Setting-up a work environment for your startup can prove expensive to work on real client needs. Partnering with a corporate accelerator gives you access to shared resources such as a working space, Cloud support, Developer Tools and APIs to name a few. This takes care of the operational hassles you would otherwise need to deal with and leaves you with more time to focus on building a successful prototype.

Intangible Support
As a young entrepreneur, you are bound to make several mistakes which you may perceive as learning opportunities. But instead of making those mistakes and delaying your success, working with a corporate accelerator is the way to go. Accelerators connect you to mentorship and coaching which are invaluable resources that propel your startup to success. Corporate accelerators offer training and guidance sessions. You’re also connected to mentors and sponsors who are as passionate about reaching the goal as you are. The added benefit is they come with years of experience that is priceless.
Often, accelerators allow you to test your product/solution against real-life scenarios, making results far more accurate. Real use cases are important for Startups to work with real data and businesses of the Accelerators.

Corporate accelerators are perfect for entrepreneurs who are consumed by ‘the next big idea’ and are looking for the perfect platform to leap frog their startup to ‘tech stardom’

Rathnaprabha Manickavachagam, Head - Innovation, Societe Generale Global Solutions Centre

Rathnaprabha Manickavachagam, Head - Innovation, Societe Generale Global Solutions Centre

Use case selection for startups is important to diversify their product/service offering for various diverse geographies and domains. Regular connects with the mentors and sponsors steer you to solutions which you may have otherwise overlooked during your iterations.

Nurturing Relationships that will Last a Lifetime
As an entrepreneur hungry to succeed, you will perhaps understand the need for the right connections. Corporate accelerators offer networking support in a structured way. Instead of you investing energy into seeking out the right investors, the corporate accelerators take care of this. Some of the platforms such as Customer Showcase opportunities, VC sessions and Roadshows connect you to the right people, making the road to innovation an easier one for your startup.

Catalyzing Results
Working with a corporate accelerator pushes you closer to creating a successful prototype, faster. With all the operational aspects taken care of, entrepreneurs can focus on developing the technology and building use cases.
Accelerators are a structured approach to innovation and function within a time frame that spans 2-4 months. An optimal time range coupled with guidance helps motivate entrepreneurs and their teams to develop prototypes in a focused manner. This razor sharp focus offers results at a much faster rate than when startups work on their own, without a ‘milestone’ in mind. Furthermore, multiple iterations nudge teams in the right direction and thereby prove beneficial to creating tangible prototypes.

Flexibility
It’s a preconceived notion that corporate accelerators limit flexibility for startups. Contrary to this belief companies embrace the ‘startup culture’ quite well and often find that it stimulates the work environment. The work culture and environment are built to offer comfort. Flexibility also extends to the terms which the Founder puts forward.

Corporate accelerators are perfect for entrepreneurs who are consumed by ‘the next big idea’ and are looking for the perfect platform to leap frog their startup to ‘tech stardom’. They offer the optimal environment for you to innovate without hassling you with requirements that might otherwise be counter-intuitive. So if you know your startup has the potential to make it big, look out for corporate accelerators that match your requirements and working style.