As the startup world grows, many accelerator programs strive to replicate the success of renowned players like Y Combinator. The question lingers: Why are some accelerators more effective than others?
Having launched 27 corporate and venture accelerator programs myself, I have a unique perspective. I often apply to accelerators not only for potential business growth but also to study their methods and improve my own programs. My experience and insights have allowed me to identify some of the fundamental aspects that make an accelerator program stand out — or fail.
Let’s look at a recent rejection I received and analyze why it reflects poorly on the accelerator. This example provides a roadmap for what accelerators can do to build a strong brand, attract the best applicants, and foster trust among founders.
1. Personalization Matters: Start with a Name
In the rejection email, they didn’t even use my name — a simple adjustment that would have shown a baseline level of care and attention.
What’s the impact on founders?
- The email felt like an impersonal mass rejection, which left me questioning the accelerator’s commitment to individual applications.
- If the program can’t handle a basic personalization step, it’s hard to believe they’re prepared to guide the growth of a technical product.
- Not using my name made it clear that they didn’t see any initial value in my application — so why should I feel motivated to reapply in the future?
2. Transparency and Respect: Explain the Reason for Rejection
In their email, they mentioned they couldn’t specify why my application was rejected due to a large volume of applications and tight timelines.
What’s the takeaway for founders?
- The program might be poorly managed if they don’t have the time or systems to provide basic feedback. How can they mentor startups if they struggle with internal organization?
- Their response came across as dismissive, failing to encourage me to consider reapplying. For founders, even the smallest suggestion to come back at a more advanced stage can make a difference in how they perceive the program.
A simple solution would have been to include a sentence or two on why they declined my application, especially if their decision criteria were clearly stated on their landing page. For founders, transparency in selection builds trust and encourages them to keep the accelerator on their radar.
3. Consistency in Criteria: Align Program Criteria with Actual Decisions
In this case, the reason given didn’t align with my startup’s stage or the stated requirements on their website.
What does this suggest to founders?
- It either signals that no one thoroughly evaluated the application or that the published criteria don’t reflect the real decision-making process.
- If the criteria seem misleading, founders may assume that the program is more concerned with filling spots than actually fostering relevant startups.
Accelerators should avoid setting false expectations. If the criteria on their website had been clear and accurate, I could have self-assessed my fit and possibly avoided the disappointment of rejection based on unclear guidelines.
Key Steps for Building a Strong Accelerator Brand
To attract loyal, engaged founders, an accelerator program needs more than just a big name — it needs to show genuine interest, provide constructive feedback, and operate with transparency. Here are simple yet powerful actions every accelerator should take:
1. Address Applicants by Name
Including a founder’s name in the rejection email is a small gesture that goes a long way. It shows that the accelerator values every application, regardless of the outcome.
2. Provide a Brief Reason for Rejection
A short sentence explaining why an application didn’t make the cut helps founders understand the program’s standards and gives them a chance to improve. Feedback doesn’t have to be lengthy; even a few words about the decision criteria can give applicants a sense of direction.
3. Offer Small, Valuable Feedback
A quick piece of constructive advice leaves a positive impression, even if the founder isn’t selected. By sharing a few insights, the accelerator can foster loyalty and encourage founders to reapply in the future.
4. Maintain Alignment Between Criteria and Decisions
Ensure that the selection process is consistent with the criteria displayed on the website. Mismatched criteria and decisions can harm the accelerator’s credibility and deter qualified applicants from reapplying.
By implementing these simple steps, accelerators can build a strong reputation and a loyal following, attracting startups that may not be ready today but could be perfect candidates in the future.
And here’s the best part: Any accelerator can take these steps to improve founder relationships, at no extra cost.
