The Accelerator Conundrum: How to Evaluate an Accelerator

Evaluating a startup accelerator, whether it’s a traditional program or a unique model like 1Mby1M, requires a structured framework that aligns with a founder’s specific goals and the stage of their business. The key is to compare what each offers against what you truly need.

Here’s a framework outlining critical criteria for evaluating any startup accelerator, specifically comparing it against 1Mby1M:

Framework for Evaluating a Startup Accelerator Against 1Mby1M

I. Core Program Model & Structure

1. Funding & Equity Terms:
   • Accelerator: What is the typical investment amount? What equity stake do they take? Is it convertible note or equity? Are there follow-on funding opportunities? What are the valuation caps?
   • 1Mby1M: No direct funding provided. It’s a subscription-based model, meaning founders retain 100% equity for the core program. This is a fundamental difference. Fundraising through 1Mby1M requires that the startup is ready to be introduced to their investor network. Most startups come to the program NOT READY and have to work to become fundable.
   • Evaluation Question: Do you need immediate seed capital, or are you prioritizing equity retention and sustainable, bootstrapped growth? Do you need mentoring and support to become fundable? Have you been rejected by top notch equity-based accelerators? Do you know why?
2. Program Duration & Intensity:
   • Accelerator: Typically a short, intensive sprint (3-6 months). What is the weekly time commitment? Is it full-time?
   • 1Mby1M: Long-term engagement (typically a year or more, renewable). It’s designed for continuous strategic guidance rather than a short, intense sprint. Flexible time commitment as it’s self-paced with weekly interactive sessions.
   • Evaluation Question: Are you looking for a rapid, time-boxed acceleration, or ongoing, personalized, strategic support?
3. Virtual vs. Physical Presence:
   • Accelerator: Is it a physical, hybrid, or fully virtual program? Does it require relocation? What are the benefits/drawbacks of its format?
   • 1Mby1M: Fully virtual since its inception. This allows global access without relocation.
   • Evaluation Question: Do you benefit more from in-person interaction and a co-working environment, or do you prefer the flexibility and global reach of a virtual program?
4. Application Process & Exclusivity:
   • Accelerator: How selective is the program? What are the application requirements and deadlines?
   • 1Mby1M: Inclusive, no application filter for the Basic or Premium programs.
   • Evaluation Question: Is entry into a highly selective cohort a priority for validation and signaling, or is accessible, high-quality guidance more important? 

II. Value Proposition & Support

5. Mentorship Model & Quality:
   • Accelerator: Who are the mentors? What is their industry expertise? Is mentorship structured (e.g., dedicated mentor, office hours) or ad-hoc? What is the mentor-to-startup ratio?
   • 1Mby1M: Direct strategic guidance from Sramana Mitra, a seasoned entrepreneur and investor, through private and public roundtables. Access to a community of peer entrepreneurs for shared learning.
   • Evaluation Question: Do you value a broad network of diverse mentors, or deep, consistent strategic guidance from a principal thought leader?
6. Curriculum & Learning Content:
   • Accelerator: What specific topics are covered (e.g., product-market fit, fundraising, sales, marketing, legal)? What is the format (workshops, lectures)? Is it standardized or customized?
   • 1Mby1M: Comprehensive, structured curriculum covering all aspects of building a bootstrapped or capital-efficient business (Positioning, Customer Acquisition, Market Sizing, Financing, etc.) through case studies and modular content.
   • Evaluation Question: Are you seeking a standardized, intensive learning sprint, or a self-paced, deep-dive curriculum with continuous application to your business?
7. Network & Connections:
   • Accelerator: What is the quality and relevance of their network (investors, corporate partners, alumni, industry experts)? How are introductions facilitated?
   • 1Mby1M: Access to a global network of entrepreneurs and investors. Investor introductions are made privately and strategically, based on a startup’s readiness and milestones, rather than through a public demo day.
   • Evaluation Question: Is a public demo day and broad investor exposure crucial, or do you prefer targeted, private introductions once specific milestones are met?
8. Post-Program Support & Alumni Network:
   • Accelerator: What happens after the program ends? Is there ongoing support, access to resources, or an active alumni community?
   • 1Mby1M: Continuous engagement available through subscription renewal, fostering long-term relationships and ongoing access to resources and the community.
   • Evaluation Question: Do you primarily need a short-term boost, or ongoing support as your business evolves beyond the initial “accelerated” period?

III. Alignment with Your Startup’s Needs

9. Startup Stage & Industry Fit:
   • Accelerator: What stage of startup do they typically accept (idea, MVP, traction)? Do they have a sector focus (e.g., FinTech, SaaS, HealthTech)?
   • 1Mby1M: Caters to a broad range of tech or tech-enabled startups, from idea stage to scaling, with a strong emphasis on capital efficiency and profitability.
   • Evaluation Question: Does the accelerator’s focus align with your current stage and industry?
10. Your Goals & Vision:
    • Accelerator: Does their model align with your ultimate goal (e.g., rapid venture-backed growth, specific market entry, corporate partnership)?
    • 1Mby1M: Emphasizes building sustainable, revenue-generating businesses, often encouraging bootstrapping first before external funding. Bootstrap first, raise money and blitzscale later is the mantra.
    • Evaluation Question: Are you seeking to build a unicorn primarily through venture capital, or a profitable, sustainable business that may or may not pursue significant external funding? If you want to build a unicorn, is a proven bootstrap first, raise money later acceptable for you?
11. Time & Resource Commitment (from your side):
    • Accelerator: What is the time commitment required from the founding team? Any travel expenses?
    • 1Mby1M: Flexible, self-paced learning, and participation in roundtables. The cost is a monthly or annual subscription.
    • Evaluation Question: Can you commit the necessary time and resources required by the accelerator’s structure?

IV. Metrics of Success (for both)

12. Outcomes & Track Record:
    • Accelerator: What is their alumni success rate (funding raised, exits, revenue growth)? What are testimonials from past participants?
    • 1Mby1M: Success stories often highlight companies achieving revenue, profitability, and strategic funding based on their strategic guidance, rather than just post-Demo Day funding.
    • Evaluation Question: How do they define and measure success, and does that align with your definition of success for your startup?

By using this framework, founders can systematically compare accelerators against 1Mby1M and other options, making an informed decision that best suits their unique startup’s needs, stage, and long-term vision.

Photo Credit: Stephanie Albert from Pixabay

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