Posted by Nivedita Kumari – Technical Anchor Mentor, Accelerator Program, and Prabhu Thiagarajan – Accelerator Success Mentor, Accelerator Program

This Worldwide Mentoring Day, we acknowledge that mentorship is a crucial a part of the startup journey. Google for Startups Accelerator packages present founders and groups with the know-how, experience, and mentorship they should develop and succeed. As program mentors, we had the chance to interact with and empower many early stage startups serving to them scale and develop.

The Startup Problem

Though the startup ecosystem is quickly increasing, success isn’t a easy journey. On a median, it takes startups two to 3 years years to show a revenue, and fewer than 10% of startups that elevate a seed spherical efficiently elevate a Sequence A funding. Even those who handle to safe funding, nonetheless face different hurdles like driving natural progress, fundraising, constructing model and market enlargement. Mentorship and entry to networks has been confirmed repeatedly to make the crucial distinction for profitable founders.

To stage the taking part in area for startup success, Google for Startups connects founders to the folks, packages and finest practices they should develop and scale their firms. Google for Startups Accelerator packages present contributors with hands-on mentorship and assist from Googlers in addition to skilled entrepreneurs and traders. These consultants work immediately with startups over the course of 10 weeks to supply tailor-made know-how, product improvement, advertising, gross sales and fundraising.

Success Story

As Google for Startups Accelerator program mentors, we had the chance to companion carefully with varied founders from world wide via the 2023 accelerator cohorts, together with these centered on Cloud and Local weather Change. One among these startups for the Cloud cohort was RealKey, an Automated Mortgage Processing (ALP) SaaS platform.

RealKey automates doc assortment/evaluation processes and centralizes communication to scale back contact factors with underwriting. By way of the Google for Startups Cloud Program, RealKey was capable of speed up Google AI primarily based doc processing and mortgage course of automation to assist create a clear mortgage submission course of. Google for Startups helped RealKey scale back mortgage processing time and frustration for all events concerned. 

“Google’s Lending DocAI service enabled our platform to incorporate doc processing the place we classify paperwork and run advanced validation algorithms to make sure that a mortgage package deal meets all lending standards. That is usually a handbook course of and our platform saves our purchasers worthwhile time and labor.” 

– Christopher Hussain, Founder & CEO, RealKey.

 

Over the course of the ten week program, the RealKey staff labored carefully with us to develop and monitor their program Goals and Key Outcomes (OKR). By way of a sequence of tailor-made technical deep dives, mentor-led product and program workshops, and pairing with related consultants from Google and the business, RealKey was capable of remedy a number of enterprise and technical challenges to speed up their outcomes. “With Google for Startups mentor assist, we achieved targets that we budgeted would take considerably longer”, says Christopher.

The Google for Startups Accelerator program supplies startups with the sources and assist they should thrive within the aggressive world. By way of its complete program, startups acquire entry to funding, technical experience, networking alternatives, and mentorship from Google AI consultants, enabling them to beat technical challenges, develop efficient go-to-market methods, and speed up their progress. With the steering and assist of Google AI consultants, startups can navigate the complexities of creating and commercializing their merchandise, successfully attain their target market, and set up themselves as leaders within the area of machine studying.

Subsequent Steps for Founders

For those who’re a startup founder, Google for Startups Accelerator packages are a good way to get the assistance you’ll want to develop your enterprise and obtain your targets. Purposes are actually open for Google for Startups Accelerator: Ladies Founders and Black Founders cohorts in North America. We encourage purposes from U.S. and Canadian headquartered know-how startups till February 1, 2024, with the 10-week packages commencing in March. Study extra and register right here.

Along with accelerator packages, Google for Startups provides a variety of packages and initiatives to assist startups at each stage of their journey. Whether or not you are simply beginning out or able to scale, Google for Startups may help you join with the appropriate know-how, experience, and group to develop your enterprise. Discover the perfect Google for Startups choices for you and your staff right here.