Startup Thailand: The Philosophy of Startup Acceleration — Why Thailand Needs a Different Model

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!

The startup accelerator is one of the most misunderstood institutions in the entrepreneurial ecosystem. Too often, it is viewed as a magic wand: founders apply, get accepted, attend a few months of sessions, pitch on Demo Day, and—voila!—a unicorn is born.

The reality, of course, is far more complex. Company-building is not a sprint. It is a marathon, marked by countless pivots, painful failures, incremental wins, and a relentless focus on getting the fundamentals right. The obsession with fast acceleration, fueled by a three-month bootcamp model and capped by a shiny Demo Day, has done a disservice to many founders worldwide.

As I’ve analyzed hundreds of accelerators globally through my The Accelerator Conundrum series, a pattern has emerged: most accelerators optimize for optics, not outcomes. They are measured by how many companies they showcase, how much press they garner, and how big their cohorts appear—not by how many sustainable businesses they help create.

In Thailand, this pattern is visible as well. The local ecosystem is maturing rapidly, and we now see programs run by telcos, corporates, and regional players. These accelerators are fantastic at creating excitement, fostering a sense of community, and connecting founders to local partners. But they also tend to focus heavily on the Demo Day moment, rather than the slow, steady grind of building a real business.

A Different Philosophy: Bootstrap First, Raise Capital Later

My philosophy—and the foundation of 1Mby1M, the global virtual accelerator I founded—is simple but contrarian: start by bootstrapping to a sustainable, revenue-generating business before raising external capital.

Why?
Because premature fundraising is toxic. It forces founders into unrealistic growth expectations, often before product-market fit is clear. Many companies raised on hype burn through cash without ever achieving a repeatable customer acquisition engine.

For Thailand, where the venture capital ecosystem is still evolving, this lesson is especially important. Relying on venture funding too early is risky because local investors tend to prioritize fast-scaling models. These models don’t always align with the realities of Thailand’s markets, customer behavior, or infrastructure.

Instead, Thai founders need to focus first on:

• Finding paying customers through creative, low-cost customer acquisition.
• Building unit economics that make sense at a small scale.
• Generating revenue to fund early operations and validate demand.
• Retaining control and ownership, so they are not pressured into misaligned directions by investors.

Acceleration as a Continuous Journey

True acceleration isn’t about a three-month crash course. It is about continuous mentorship, sustained over years. Entrepreneurs need a place to come back to, week after week, to troubleshoot issues, refine strategy, and adapt to market feedback.

This is why the 1Mby1M model is different. It operates virtually, without geographic limits, and focuses on long-term relationships. Founders work through methodology, roundtables, and now even an AI Mentor that speaks multiple languages—including Thai—so they can iterate in their native language without losing nuance.

Looking Ahead

In the next post, I’ll give you a snapshot of Thailand’s current accelerator landscape. We’ll explore who the key players are, what they offer, and how they fit into the country’s entrepreneurial ecosystem. In the following posts, we’ll also explore the pros and cons of Thai accelerators, compare Thai accelerators vs 1Mby1M, and explore why 1Mby1M’s AI Mentor, with its Thai-language capability, is a transformative force for Thailand’s startup ecosystem. As you’ll see, there are strengths to celebrate—but also significant gaps that need addressing if Thai startups are to compete globally.

The stakes are high. If Thailand gets this right, it can create a new generation of globally competitive startups. If it gets it wrong, too many founders will burn out chasing vanity metrics and empty promises.

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 : Startup Thailand