I have been working with startups for a long time, including 3 years as a program manager at Challenger AI, an international acceleration program for AI startups, and as an advisor to other accelerators. Over this time, I’ve noticed that startup teams often make the same mistakes during acceleration programs. This isn’t tied to the program’s name, level, or classification — it’s more about startups’ approaches and attitudes during this stage of development.
An acceleration program typically helps startups achieve goals like making valuable connections, improving the product, speeding up growth, and securing funding. If you gain several of these benefits, your acceleration experience can be considered a success. However, if you leave the program without new knowledge, connections, progress, or funding, you may have wasted your time and others’ as well.
How to avoid this happening?
Below, I outlined a list of what not to do during an acceleration program.
Common startup accelerator mistakes
Mistake #1: Applying to every accelerator you come across
Submitting applications to every accelerator you see in your news feed or hear about from friends and family — thinking, “It doesn’t matter, any program will work for us” — is a losing strategy. Instead, set clear goals and determine exactly what you want to achieve through the program. Do you need help refining your business model? Expanding to new markets? Improving your technology? Optimizing processes? Carefully research available programs, one and choose the best fit for your needs.
Mistake #2: Disappearing in the middle of the selection process
Imagine you’re sitting at a negotiation table with potential partners. Midway through the discussion, you stand up and leave without explanation. That’s how it looks to accelerator organizers when a startup suddenly drops out of the selection process. More than that, it can negatively impact your reputation in the startup ecosystem.
Mistake #3: Underestimating the time commitment
Ignoring the time requirements of an accelerator and assuming “we’ll figure it out somehow” can be a critical mistake. It’s much better to assess your availability before committing than to stretch yourself too thin across multiple tasks and gain nothing in the end.
Mistake #4: Sending random team members who don’t know why they’re there
Accelerator sessions are structured around specific topics. A session that benefits your developers may not be helpful for your marketing team. Instead of involving everyone unnecessarily, bring in the right team members when needed to optimize resources and participation.
Mistake #5: Not researching mentors, skipping meetings, or ignoring feedback
A mentor in an accelerator program guides your startup with insights, advice, and mentorship. They are often the most crucial person who dives deep into your business and helps you extract the most value from the program. Engaging effectively with mentors and the entire accelerator team at every stage will provide you with knowledge that no AI can generate.
Mistake #6: Procrastinating on assignments and failing to update materials
No one is grading your work, but independent tasks help reinforce knowledge and structure your learning. Completing assignments at the last minute or neglecting to update your materials can hinder your progress.
Mistake #7: Ignoring networking opportunities
Failing to connect with successful founders, never asking questions, and avoiding networking altogether is a huge missed opportunity. Networking is often the most valuable aspect of an accelerator, providing long-term benefits beyond the program itself.
Accelerator won’t solve your startup’s problems for you
I’ve noted that one of the biggest misconceptions is believing that an accelerator will solve your startup’s problems for you. It won’t. You will solve them by yourself. The accelerator will provide direction, insights, shortcuts, and numerous opportunities to help you succeed. It’s a great chance to expand your network, gain valuable knowledge and skills, compete for grants, and, most importantly, increase your chances of securing larger investments in the future. But it is definitely UP TO YOU how you use this opportunity.
If you want to learn more about how accelerator programs work and what they offer, keep an eye on Challenger AI and join our events. We’d love to connect with you!
