Accelerators and incubators are a catalyst in the success of a startup. It does not guarantee success, but it does provide a huge opportunity to do things right and increase the chances for success. Some startups take part in several accelerators throughout their life time.
The startup industry is being inundated by many types of accelerators, incubators and hubs. It becomes increasingly more difficult to choose which one to join, which one will bring the best value.
In Israel alone, there are about 7722 active startups and about 281 accelerators, hubs, innovation centers and shared spaces (Source:IVC).
Accelerators differ in the added value they offer to startups. Some grant great mentorship and advice, some grant access to their networks, client base and VCs. Some originated within corporates, some by VCs and some by other interested parties. Some are free, some request a pecentage of equity. Some programs are short and efficient and some can take as long as 6 months.
How to choose the best accelerator for you?
Asaf Paz from Quali.fit – “We attended the “MassChallenge accelerator” in Jerusalem. It was hard work, but it was worth it. We could have chosen a more convenient one, closer to home and the office (Tel Aviv), but the added value they gave us was worth the effort. It’s a global accelerator and we needed the connections. An HR Tech accelerator would definitely be top priority, as it is from within the industry”.
And he may very well get his wish…
The big news is that AKT is launching the first Israeli HR Tech Accelerator, thus joining several others currently operating in the world (scroll down for the list).
AKT Human Capital Solutions, is a global organization that works jointly with clients in their HR transformational journey. They are a single provider of HR consulting, technology and services offering clients the powerful combination of global structure and local presence in all major markets.
AKT is presently established in the UK, Israel, Greece, Cyprus, Czech Republic and Slovakia with more than 100 dedicated associates.
The advisory Board and mentors includes a distinguished list of international and local professionals, and I am happy to be able to contribute alongside with them.
As I wrote on a my post about Israeli HR Tech startups, Israel has a very notable presence in the HR Tech arena. Three finalists at UNLEASH in London were Israelis (Plus myself as one of the judges in the startup competition (thank you Anna Ott for thinking of me!)). It seems like slowly but surely, from way out there across the Mediterranean, Israel is leaving a foot mark on the global HR Tech industry. An HR Tech accelerator sounds only logical as the next step.
I spoke with Dror Gurevich, Founder and Partner at AKT Global.
“We know that 9 of 10 start-ups typically fail. That number sounds pretty bad, but we firmly believe that AKT LABS will actually make a difference for start-ups looking to solve the current and future talent acquisition and people management challenges”.
What prompted AKT to get involved with an accelerator?
“Our collective influence, guidance and mentorship will create the ideal ecosystem and secure network for start-ups to grow. An environment that is conducive to helping participating companies every day by surrounding them with people who will mentor, inspire, and challenge them.
Also, an added value is that by being that close to innovation in the field, we can serve our clients much better by having a good understanding as to the direction of the market”.
Have you thought of a roadmap?
“I will be honest, right now it’s a question mark. We can’t say. I can say that we invested a lot of time and effort to make this a permanent program. Taking into consideration the number of HR Tech start-ups in Israel (80-100), we need to figure out if it will happen twice a year or once.
What is unique with this accelerator?
“At this point we are following the general model – Providing mentors, we among them, to lead and teach them what they need to know: marketing, finances, legal support, etc etc…Our unique contribution is that we know and understand the HR ecosystem very well. We know the players, we have the network. This is something they can’t get in other accelerators, for example”.
What so you expect from the mentors?
In the diverse group of people we have brought together, either the Advisory Board or mentors, local and international, there can be many types of contributions. Mentors are not expected to work alongside with them all week. They can choose 3 mentors that they feel they want to consult with them to help them with their challenges.
Anything else you want to add?
“I am amazed by the amount of talent pouring into the HR Tech industry and by how passionate they are and how able they are towards fixing the pain problems out there”.
A quick search on HR Tech Accelerators/hubs/programmes out there are generate a relatively short list of such accelerators. If you know of others, kindly share it with me so I can update the list.
Hudson – Hudson and Seek partner with Slingshot
HR Tech Hub Vienna
Germany | Cologne
Cammio, YoungCapital and CompanyMatch open Germany’s first HR Technology shared space.
AKT – HR Tech Accelerator
Scale | HR – PwC and AngelsCube partnered to bring the Scale | HR Programme.
Talent Tech Labs
Pls write to me if you are aware of additional HR Tech related accelerators, incubators, hubs and shared spaces around the globe. firstname.lastname@example.org