Accelerators work, but the best ways to help entrepreneurs may surprise many startup veterans, according to a report released Monday that, for the first time, examines the effectiveness of accelerators and incubators working in development.
Choosing quality ideas, giving entrepreneurs more free time, focusing on communication and networking, and starting early are among the most effective ways to help startups get off the ground, the report, published by the Global Accelerator Learning Initiative, found. Another conclusion may also sound familiar to humanitarians: there is no one-size-fits-all approach, and understanding local context is key.
The report comes amid a rise in the number of accelerators and incubators geared toward companies hoping to provide answers to what would traditionally be questions of aid and development.
About the author
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
