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Based on recent data in the first half of 2021, European startups captured 20% of global capital. This is a fascinating figure, but in order to see the whole picture, we have to add the information that 9 out of 10 startups fail. There are many challenging factors in the life of a startup business that entrepreneurs find difficult to deal with. Accelerator programs such as .wave can provide an effective solution designed for the unique issues and challenges of startups. The businesses participating in the program can accelerate their development in a few months with intensive learning, growth, professional mentoring, and valuable networking.
Our article provides insight into what makes .wave, our accelerator program unique and presents 7 pain points that it helps startups to solve.
.wave is an innovative accelerator program that provides professional development to environmental sustainability-focused start-ups in the Carpathian Basin. At .wave we are aiming to create an ecosystem in which we gather environment-conscious members who can identify with our values and are ready to take action.
In addition to the professional trainings held by our experts, we provide key mentoring, valuable business networking opportunities, and investor access for startups participating in the program.
Our professional mentors help startups to focus on the goals set at the beginning of the program and provide them with practical advice related to their field of expertise. The system assigns the mentor to the team based on how he or she can help the most.
The number of startups is growing every day, including environmental sustainability-focused businesses which means increased competition from this sector. It is often difficult to stand out, define and differentiate themselves, therefore the increasing competition is one of the most common reasons early-stage businesses fail.
Practical training sessions at .wave accelerator program
.wave program with its practical training sessions puts startups into context in the market and the world of sustainability. Besides numerous useful topics, our experts teach business owners how they should interpret their business’s own lifecycle. They can learn what sustainability means today, how it can add real value to their customers and turn it into a competitive edge. Startups that participate in the .wave program will get the essential and practical knowledge necessary to reveal their unique selling proposition in a highly competitive environment.
Inadequate development of the product before entering the market is another common reason for the failure of startups.
At .wave accelerator program, we dedicate an entire day to product development, full of useful and practical presentations and trainings from experts in the field. Business owners can gain critical knowledge about the entire process and the methodologies that they should use from product development until market launch and investment. The product development session of the Program entails useful inputs and processes for hardware, software, and service products.
A go-to-market strategy is a startup’s plan for acquiring new customers for a new product. In other words, all marketing occurs prior to reaching product-market fit.
.wave provides startups with essential information on go-to-market strategy at each step. During the two-day go-to-market training, startup owners can learn the essential information needed to enter the market from various applicable presentations and feedback. The training covers such critical areas as value assessment, pricing, digital marketing, and sales strategy. In addition to these, the participants can also learn how to use the ecosystem as a tool for their development.
Startups tend to ignore the importance of their financial management. This can have fatal consequences for the business as its success depends on more than just making money.
We developed the .wave program in such a way as to provide startups with a comprehensive and secure basis for the smart management of their finances. Besides, our experts provide startup owners with essential information to be able to make profitable decisions in the current and future stages of their business.
The perception of a company is influenced by its communication. Communication about the products or services, the approach to potential customers, and networking in existing business relationships form the startup’s reputation and the foundation of future business success. Therefore, mastering effective and professional communication is crucial for every startup owner.
.wave accelerator program offers an excellent and unique opportunity for startups to develop their soft skills like storytelling, negotiation, internal and external communication as well as 21st-century Human Resources and Organisational Development.
Mentorship-based accelerator program for startups
One of the most significant challenges that new businesses and particularly startups are facing is earning a customer’s trust. One of the most important keys to business success and growth is a loyal customer base.
.wave provides practical workshops and trainings spiced with customized feedback, specifically tailored to the environmental sustainability niche market and clients. They can learn from our experts how not to make mistakes that others have already made. Organized into groups, the participants can practice the acquired theoretical knowledge and lead generation using peer2peer method, such as the one where they need to sell their product/service to anyone, even a stranger on the street.
Finding the right investor is one of the biggest challenges for early-stage businesses. After that, the startup owners have to convince potential investors why they should financially support their project. This is a particularly hard task in the more risk-averse Carpathian region.
Our experts guide startups through the process of finding the ideal investor and pitching them their products or services during the training session that is included at the end of the accelerator program. Startups have the opportunity to gain extensive knowledge about pitching, storytelling, negotiation, how to prepare your cap-table and term sheet and valuation strategy. They will also hear insightful investor stories from which they can learn lots of valuable lessons.
Before directly presenting their product or service to potential investors on Demo Day, startups have the opportunity to test themselves and practice their pitch on the so-called Dry Run day. In this way, they can be prepared and more likely to convince the investors to choose their project.
.wave is a unique accelerator program designed specifically for the unique needs of startups that place environmental awareness at the center of their operations. Participating in .wave program helps startups to find or finetune their business purpose, in addition to providing them with extensive and valuable information about modern organizational development.
.wave can solve several pain points for startups, which after the end of the program are much more likely to thrive in an ever more uncertain and competitive world