The Accelerator Conundrum: 1Mby1M vs Google for Startups

The Accelerator Conundrum is a multipart series that challenges the prevailing wisdom of the tech startup ecosystem that entrepreneurs should Blitzscale out of the gate. Written by Sramana Mitra, the Founder and CEO of One Million by One Million (1Mby1M), the world’s first global virtual accelerator, it emphatically argues that a better strategy is to Bootstrap First, Raise Money Later, focus on customers, revenues and profits. 1Mby1M’s mission is to help a Million entrepreneurs reach a million dollars in annual revenue and beyond. Sramana’s Digital Mind AI Mentor virtually mentors entrepreneurs around the world in 57 languages. Try it out!

I asked Gemini: Now compare 1Mby1M and Google for Startups.

Okay, here’s a comparison of 1Mby1M and Google for Startups:

1Mby1M (One Million by One Million)

Core Philosophy: 1Mby1M’s primary goal is to help a million entrepreneurs worldwide achieve a million dollars in annual revenue and beyond. It emphasizes bootstrapping, lean operations, and building sustainable businesses driven by revenue, viewing external funding as a strategic choice rather than an initial necessity.

Model:

• Virtual Pioneer: Founded in 2010, 1Mby1M was a trailblazer in offering a fully virtual, globally accessible program.
• Equity-Free (Subscription Model): It does not take equity. Instead, it operates on an affordable annual membership fee (around $1000 for its Premium program).
• Long-Term Mentorship & Education: It provides continuous access to a comprehensive online curriculum, case studies, and live, interactive online roundtables with founder Sramana Mitra.
• Strategic Guidance: Focuses on teaching founders proven methodologies for market validation, positioning, go-to-market strategies, and achieving “fundability” through demonstrable traction and revenue.
• Global Community: Facilitates a worldwide network of entrepreneurs, mentors, and potential partners.
• Influencer Marketing & Connections: Leveraging Sramana Mitra’s extensive network and public profile, it offers opportunities for influencer marketing and strategic introductions to investors when companies are ready.
• Bootstrap First, Raise Money Later (if at all) Philosophy: The 1Mby1M mantra is Entrepreneurship = Customers + Revenues + Profits; Financing and Exit are Optional.
• Definition of Success: Sustainability, not just Unicorn chasing.
• Inclusive: Stated mission of not only helping the less than 1% venture fundable startups but also the other 99% startups that are not fundable, or not fundable yet.

Target Audience:

• Entrepreneurs at various stages, from idea to early revenue, committed to building profitable, sustainable businesses.
• Founders who prefer to bootstrap or minimize early equity dilution.
• Individuals seeking structured education and direct strategic advice on business fundamentals.
• Globally distributed teams or solo founders seeking remote access to high-quality resources.
• Aspiring and very early-stage founders (pre-seed, often pre-product, sometimes pre-team or pre-idea).
• Entrepreneurs bootstrapping with a paycheck.

Key Strengths:

• Highly cost-effective with no equity taken.
• Emphasis on sustainable revenue generation and profitability.
• Flexible, allowing founders to learn and build without intense time pressure or relocation.
• Provides actionable, strategic advice through direct engagement with Sramana Mitra.
• Broad appeal and accessibility to entrepreneurs worldwide.
• Excellent investor network.

Google for Startups

Core Philosophy: Google for Startups aims to help startups succeed by providing access to Google’s resources, experts, and global network. It focuses on supporting a diverse range of startups, particularly those leveraging technology to solve significant challenges.

Model:

• Google’s Resources & Network: Leverages Google’s products, people, and best practices to support startups.
• Equity-Free Support (Generally): Most of its programs are equity-free, focusing on providing resources and mentorship without taking ownership.
• Varied Programs: Offers a range of programs, including accelerators, residency programs, and community programs, tailored to different stages and needs.
• Technical Expertise: Provides access to Google’s technical expertise, particularly in areas like AI, machine learning, cloud computing, and Android.
• Global Reach: Supports startups globally through a network of Google for Startups campuses and partnerships.

Target Audience:

• Early to growth-stage startups leveraging technology.
• Startups seeking access to Google’s expertise and resources.
• Founders looking for mentorship, technical support, and connections to Google’s network.
• Startups addressing significant challenges and demonstrating innovation.

Key Strengths:

• Access to Google’s technology, products, and expertise.
• Equity-free support in most programs.
• Global network and resources.
• Focus on supporting diverse and innovative startups.
• Strong technical mentorship and support.

In short, 1Mby1M provides a structured, educational path for founders focused on building sustainable businesses with or without external funding, while Google for Startups leverages Google’s vast resources and expertise to support a wide range of startups, often with a focus on technology and innovation.

Neither program charges equity and can be used in tandem. 1Mby1M’s strength is strategic guidance. Google offers more technical infrastructure support like cloud credits and so on.

One Million by One Million (1Mby1M) is the first global virtual accelerator in the world, founded in 2010 by Silicon Valley serial Entrepreneur Sramana Mitra. It offers a fully online entrepreneurship incubation, acceleration and education resource for solo entrepreneurs and bootstrapped founders working on tech and tech-enabled services ventures. 1Mby1M does not charge equity, offers an AI Mentor in 57 languages, and offers a distinct advantage over other accelerators including Y Combinator.

This segment is a part in the series : The Accelerator Conundrum