Mentoring is the linchpin for entrepreneurs in accelerators

The article Accelerators Lend Help to a Business Idea Trying to Catch Fire by John F. Wasik in The New York Times makes very clear the value of mentoring to founders.

“The mentoring is the linchpin,” said Matt Maloney, a co-founder of GrubHub . “The key benefit of the program was being able to model and communicate the power of the business.”

Still, not all accelerators are equal. Mr. Maloney’s advice for start-up owners who are considering one is to look at the people involved. Ms. Smith recommends examining the kind of experienced entrepreneurs the accelerator works with and how much one-on-one advising is offered.

“The top two qualities of the best accelerators for you,”said Prof. Yael Hochberg at Rice University, managing director of the Seed Accelerator Rankings Project., “are fit and experience of the mentors and managing directors.

Author: Mentorphile

Mentor, coach, and advisor to entrepreneurs, small businesses, and non-profit organizations. General manager with significant experience in both for-profit and non-profit organizations. Focus on media and information. On founding team of four venture-backed companies. Currently Chairman of Popsleuth, Inc., maker of the Endorfyn app for keeping fans updated on new stuff from their favorite artists. View all posts by Mentorphile