To progress meaningfully, the world needs bold, innovative thinkers. Where would we be if Edison had never questioned the dark and invented the light bulb? If Alexander Graham Bell had never grown frustrated with the means of communication of his day and invented the telephone, where would we be? Where would we be if the Lumière Brothers had never looked to further the means of entertainment by inventing the art of cinema?
Progress would never happen without thoughtful, curious minds pushing at our world’s perceived barriers and constraints.
But for those great minds to truly succeed, they must have access to the tools and means necessary to achieve such greatness. This is why mentorship and incubator programs have become invaluable resources, providing resources, connections, and tools to some of the greatest minds of the modern-day and forming them into the thought leaders and world-shapers they will become.
Giving Great Minds the Tools to Change the World
These programs contribute to the betterment of the world. They can help young or struggling entrepreneurs obtain much-needed resources and connections to get their startups off the ground. The incubator program was founded to provide support services such as strategic advice, funding options, and connections to industry experts.
By connecting these young entrepreneurs to marketing assistance specialists and mentors within their field, these programs help to give young startups the exposure needed to attract more customers and build momentum around their services and/or products.
One incubation and mentorship program is USC’s Rossier School of Education’s Education Technology (EdTech) Accelerator Program, which began accepting applications for its 7th cohort on September 1st. The Accelerator is aimed at tech-enabled education solutions with high potential to improve the quality and equity of education, from early childhood through adult learning.
The History of the EdTech Accelerator Program
Doug Lynch started the EdTech Accelerator program in 2018 to help early-stage education technology companies accelerate their growth. The program is designed to be accessible, with no fees or equity requirements, and focuses on assisting companies in developing practical solutions that address real problems in education.
“The program is designed to help entrepreneurs navigate the challenges of the education ecosystem, improve the efficacy of their products or solutions, refine a go-to-market strategy, and establish key relationships so that companies can accelerate growth and increase impact,” said Mark DeGennaro, Managing Director of USC EdTech Accelerator Program.
Throughout the seven cohorts, the accelerator has worked with around 75 companies that have collectively raised over $130 million and reached over 23 million learners worldwide. While the program has had some surprising successes, like a company with a co-founder who won the Nobel Prize, the team is most excited about the broader impact the companies are having in areas like improving college access, workforce development, and addressing equity gaps in education.
Reaping the Benefits
Startup mentorship and incubation programs have long been great ways to assist young entrepreneurial minds in gaining insight, experience, and hands-on expertise to successfully launch their businesses. These programs offer unparalleled resources that contribute significantly to the likelihood of individual entrepreneur success in the long term.
Joining a mentorship or incubation program can benefit an upstart, from mentoring to networking opportunities to full-blown financial support. Through their experiences in incubator programs, entrepreneurs are educated and enabled to make effective business choices and better understand how they can achieve their business aspirations.
The ideological intent behind mentorship and incubation programs is to give a platform and means of communication to today’s inspiring voices in the hopes that they might change the future of our tomorrow. Thus far, the results of these kinds of incubation programs speak for themselves, having afforded means and connections to countless upstarts whose future ventures have benefitted the world in profound ways.
