Infographic: The Impact Of Accelerators For UK Startups

Currently, there are 171 accelerator programs in the UK, according to the Department of Business, Energy and Industrial Strategy (BEIS). These programs last from three to 12 months and the majority of them offer direct funding and mentorship.

Accelerator Resources To Quickly Boost Startups

The participant projects benefit from professional guidance and from the funding they receive to carry out their ideas. Every year, over half a million businesses are created while roughly only 3,000 startups participate in accelerator programs. This can offer a huge competitive advantage to those startups, giving them an edge in a very competitive startup landscape.

In order to stand out from the competition, the first investment provided by accelerators is essential to attract future investors, like in the case of Transferwise or pi-top. After being granted £50,000 and £25,000 respectively, each company went through several more successful funding rounds, and that success can be attributed to the initial boost that their accelerator programs gave them.

The opportunities are also open for startups from different fields, as 30% of accelerators do not specialize in a particular area. Within digital technologies, there are 23% specialized programs and the rest are centered around a wide range of fields, from B2B, healthcare and wellbeing, creative industries, or energy.

The infographic about business accelerators in the UK pictures the state of the accelerator scene and how these programs have produced successful cases.