advice

Choosing startups for an accelerator: How we find the best of the best

Collider Accelerator Every year, we scour the globe for up to 10 top madtech startups to join our accelerator – in fact, we’re smack bang in the middle of doing just that right now.

We want to uncover the most innovative ideas, discover teams with incredible hustle and ultimately, find what we believe could be the next big thing in the marketing and adtech space.

Here’s a breakdown of how we find, interview and pick our startups from start to finish.

Inbound: The applications

We invite startups to apply directly to our accelerator using F6S – it’s quick and easy for you and helps to gives us a first look into what it is you’re creating.

Outbound: Referrals

Thanks to the Collider team, investors, brands, mentors and alumni all being submersed in the industry and on top of what’s going on, referrals play a large part in the startups we consider each year.

Keeping an eye out

Proactive research is also a huge part of how we work at Collider. Events, tech hubs and industry specific databases are all ways in which we reach out to start ups.

The two most important things we look for is a signifier that your startup fits into the space we work in, and an impressive idea that sparks our interest.

What are we looking for?

We’re looking for the must have, not the nice to have.

Many of our questions are centred around working out whether we’re the best people to help you, and whether you’ll get the most you can out of our programme.

And you can never under estimate the importance of a great team – it’s incredible to see how significant the people are to the investors’ decisions.

Throughout the entire process, we look at around 600 companies to ensure we really are finding the best in this space.

Collider picks startups

Stage one – a phone call

This usually lasts around 30 minutes and gives you a chance to properly explain exactly what it is that you’re doing. This process usually happens around September/October time, with our feedback given within 2-4 weeks.

Expect the key question: “What are your main challenges?” We don’t ask this to catch you out – it’s to make sure you’re a fit for our accelerator so we can give you the very best value.

Stage two – Collider Partner chat

This step is for us to get our heads together and discuss as a team: who you are, what it is you’re doing and whether you’re a good fit for Collider, drawing on our previous experiences. A model that most major VC’s also follow, it allows us to bounce off each other and on a high level, how we could see your idea fitting into the market.

Stage three – Pitch to Collider Partners

If you get through to this stage, this is your chance to really impress us from the get go – the aim is to get us talking! We’ll ask you to prepare a five minute pitch, usually followed by a short Q&A.

The most important thing we gain here is seeing what you’re like face-to-face and to get to know the team.

You’ll know within one week if you’re through to the final stage.

Collider Accelerator programme in action

Stage four – Pitch to Collider Investors

Selection Day – the big one.

This works in a very similar way to stage three: a five minute pitch followed by a short Q&A, but this is in front of the very people who could be investing in your startup.

Our investors all have incredible and relevant experience in this field, and use this to help curate a list of the very best startups they believe could work in the real world. We start moving fast here – you’ll find out the next day.

Quick tips

If you’re considering applying for our accelerator programme, ask yourself these questions and then come and say hi:

1. How did this project start?

2. What challenges do you face?

3. Why Collider?

Fuelling Your Spooky Startup; a Halloween Special

We had a great event last night at TechHub Manchester which explored the different funds that are available to startups. On our panel to discuss this was Doug Stellman from Enterprise Ventures, Darren Westlake the CEO of CrowdCube, Andrew Ko the co-founder of Manchester startup Moment.Us, and Rose Lewis the co-founder of Collider. With representation ranging from venture capital to crowd funding, the discussion was lively with plenty of questions from the audience. There was a lot of discussion around what investors look for in startups, what stage a startup needs to be at to raise finance, as well as more grueling questions concerning the pros and cons of accelerators, crowd funding, and venture capital. There was a lot of tweeting, so be sure to head over to our account to take a look at some of the responses.

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We love coming to Manchester and will definitely return soon with more pizza, beer, and lively startup debate. Thanks to TechHub for putting us up for the evening, and thanks to everyone who came along instead of trick-or-treating!

Doug, Rose, and Andrew

As a final reminder, there are only SIX DAYS left until our application closes, so head over to our application page to apply!