Before getting into why one should choose a start-up studio model over the normal traditional accelerators or incubators, let us talk about what they are first.
What is a start-up studio?
A start-up studio is basically an organisation that helps build other start-ups from the ground up. They provide all types of resources necessary that will help the start-up grow and build on that. They assist with all decision-making, team assembly, internal matters, day-to-day operations, scaling up and more. They provide an entire support system for the startup to grow and succeed. This is what makes start-up studios an excellent choice for a small start-up that needs complete skill and support to work.
What is an accelerator?
An accelerator is generally funded by an existing company and aims at accelerating companies and helping them scale up. Accelerators generally also have a more structured program and are more typically growth based and have fixed durations.
What is an incubator?
An incubator is more open-ended and is mostly independent but sometimes also has venture capital funds. Incubators also primarily focus on innovation. They sort of are like a preparation platform for accelerators. Incubators don’t have a limited time frame and are generally open to long-term solutions. They also focus on larger numbers and are more focused on creating environments for co-creation.
The main difference between start-up studio models and accelerators and incubators.
Now that we know what they are, the main general differences are that start-up studio models work more thoroughly and in-depth compared to what a traditional accelerator and incubator do for you. They are more involved and participate from start to finish, from where the idea begins all the way to finishing the final product and launching it into the market.
Why a start-up studio model is better than traditional accelerators and incubators.
Because a startup studio is more involved and works with you full-fledged, it makes it a better choice for startups to go with them. Having all the necessary resources brought by the startup studio makes it much more simple to work with and easy to move forward with the idea you are working with. Incubators and accelerators don’t provide all the resources or help with all the day-to-day operations and decision-making the way a startup studio does, they come in at a bit later stage and do not always work with your preferred timelines or strategies.
Benefits of choosing a start-up studio model.
The most important reasons to choose a startup studio over accelerators and incubators are because of what they provide you with:
Resources, investing capital, professionals and other manpower, help with decision-making processes.
They provide all the resources your startup needs to grow and succeed. Whether it’s software help or spaces to work in, they help with every aspect that you require.
They also invest capital in your company since they are helping you build it. This way you don’t have to worry much about funding because they are already assisting you with it.
You also get to work with industry professionals who are helping build up your company and they also provide teams for all the necessary operations to make your company a success.
They help with all decision-making processes and their help with these things is what makes it simpler to proceed with building your company.