The article outlines how an accelerator can support the growth of a young venture.
Appropriate Subject Area(s):
Entrepreneurship, marketing, business management, business finance
Key Questions to Explore:
- How does an accelerator support start-up ventures?
Introduction to lesson and task:
Students will learn the difference between an accelerator and an incubator and how each supports start-up ventures.
Action (lesson plan and task):
- Survey the class and ask them if they know what an incubator is. Write key words on the board. Ask students if they know what an accelerator is. Write key words on the board.
- Using a Venn diagram on the board, discuss the similarities and differences.
- Distribute the article for reading.
- Many accelerators are located on university and college campuses with young people as a target audience. Have the class discuss what value there would be for the local economy if there more widespread support for start-up ventures.
- Wear your Label had so much early success that they were not able to handle it. Write a Lean Canvas business plan that would help this venture to be able to meet its demand. Use the website under materials needed to show a template and walk through the Lean Canvas model with the class.
Consolidation of Learning:
- Working in small groups and using a blank copy of the Entrepreneurial Person, ask students to label the person with the key characteristics of someone who is likely to be successful with the support of an accelerator. Would it be a different person who would benefit from incubator support?
- Students can differentiate between an accelerator and an incubator.
- In pairs or groups of three, ask students to research where there is an accelerator or an incubator in your community. Have students prepare a one-page paper on what they learned about the accelerator or incubator, including criteria for the kind of people and ventures they support, what support they offer, successful ventures launched and any other relevant information.