The UK, particularly London, offers some of the best startup accelerators in Europe. These programs are invaluable for young founders aiming to rapidly gain traction, expand their network, access investors, and receive mentorship. This article will highlight the top accelerators to consider in 2024.
What is the Purpose of an Accelerator Programme?
An accelerator program is a specifically tailored initiative designed to propel startups forward in a short, intensive period. Typically lasting several weeks to a few months, these programs offer:
- Mentorship from industry experts
- Seed funding in exchange for equity
- Intensive workshops and training
- Networking opportunities
- Co-working spaces and resources
- Demo days to pitch to investors
The primary purpose is to compress years of learning and growth into a condensed timeframe, helping startups refine their business models, develop products, and prepare for rapid growth and investment.
Methodology
Our ranking is based on the estimated portfolio valuation claimed by the accelerators, focusing on successful exits and the overall valuation of portfolio companies. We analysed data from various sources, including public reports, success stories, and industry insights, to assess the effectiveness and impact of each accelerator. This approach allows us to gauge the real-world outcomes and effectiveness of each programme in fostering valuable, successful companies.
Top Accelerators
Y-Combinator
While not based in London, Y Combinator (YC) is the gold standard of accelerators and worth considering for founders willing to relocate.
Funding: $500,000 total investment ($125,000 for 7% equity, plus an additional $375,000 on an uncapped safe with "Most Favoured Nation" (MFN) terms).
Duration: 3 months intensive program, followed by lifelong support.
Unique aspects:
- An unparalleled network of 5,000+ alumni companies with a combined valuation of $600B
- Access to exclusive deals worth over $500,000 from leading software companies
- Dedicated group partner with extensive startup mentoring experience
- Access to YC's Investor Database with 50,000+ startup investor profiles
Best suited for: Startups with global ambitions and scalable ideas at any stage, from idea to growth.
Application process:
- Online application: Includes a 1-minute video introduction and detailed questions about your startup
- Initial review: YC partners review all applications
- Invitation to interview: If selected, you'll be invited for a 10-minute interview
- Interview: Rapid-fire questions about your startup, team, and market
- Decision: Usually within 24 hours of the interview
YC's track record is unparalleled, with 66% of their billion-dollar companies having YC as their first investor. The program is designed to give startups a disproportionate advantage in the market, making it an excellent choice for ambitious founders looking to make a global impact.
Fun Fact: The founders of Zapier successfully graduated from Y Combinator while working remotely, illustrating that it's possible to participate in this program without relocating. This flexibility has allowed many startups to thrive, proving that great ideas can emerge from anywhere.
Entrepreneur First (EF)
Entrepreneur First (EF) stands out with its unique approach of investing in exceptional individuals before they have a company or an idea. This model allows founders to match themselves with potential co-founders, fostering collaboration and creativity as they explore diverse ideas together without the constraints of preconceived notions or existing projects.
Funding: £2,000 per month stipend for 3 months (totalling £14,000 pre-seed); Potential £80,000 investment for teams that form and are selected to continue.
Duration: 3 months for team formation and idea generation; Additional 3 months for those selected to build their startup.
Unique aspects:
- Focuses on bringing together talented individuals to form co-founding teams
- Provides a structured environment for idea generation and validation
- Offers access to a global network of founders, investors, and industry experts
- Runs cohorts in multiple global locations, including London, Singapore, and Berlin
Best suited for: Highly skilled individuals with deep technical or domain expertise looking to start a company from scratch.
Application process:
- Online application: Includes detailed questions about your background, achievements, and motivations
- Initial screening: The EF team reviews applications
- First-round interview: Discussion about your expertise and entrepreneurial potential
- Assessment Centre: A full day of individual and group exercises to evaluate your skills and teamwork
- Final interview: In-depth conversation about your fit for the program
- Offer: Successful candidates receive an offer to join the next cohort
EF has a track record of creating successful deep tech startups, with over 500 companies founded and a portfolio value exceeding $10 billion. Notable alumni include Tractable (AI for accident recovery), Cleo (AI assistant for personal finances) and Aztec Protocol (privacy layer for Ethereum).
Fun Fact: Entrepreneur First emphasises the importance of being exceptional, as they believe that truly remarkable individuals can shape the future of technology and innovation. This focus on exceptionalism is not just about having a standout resume; it requires consistently demonstrating unique skills, insatiable curiosity, and a relentless drive for impact—qualities that are essential for building successful startups.
Techstars London
Techstars London is part of the global Techstars network, offering startups access to international resources, mentors, and investors. This program has a strong track record of nurturing innovative companies across various sectors, with a particular focus on B2B and deep tech startups.
Funding: $20,000 seed investment; $100,000 convertible note; Potential for follow-on funding from Techstars venture funds.
Duration: 3 months intensive program; Followed by ongoing support and access to the Techstars network.
Unique aspects:
- Lifetime access to the Techstars network of founders, investors, and mentors
- Hands-on mentorship from 100+ mentors during the program
- Access to over $1 million in perks and discounts from partners
- Strong focus on founder development and company growth
- Regular cohorts in London, tapping into the city's vibrant tech ecosystem
- Best suited for: B2B and deep tech startups with global ambitions, particularly those in fintech, healthtech, and SaaS
Application process:
- Online application: Includes detailed questions about your team, product, market, and traction
- Video pitch: A short video introducing your team and explaining your business
- Initial screening: Techstars team reviews applications and videos
- First-round interview: Discussion with program staff about your startup and goals
- Deep dive: In-depth examination of your business model, technology, and market opportunity
- Final interview: Meeting with the Managing Director and program team
- Selection: Chosen startups are invited to join the program
Techstars London has a strong track record, with alumni raising over $1 billion in total funding. The program runs two cohorts per year, typically in spring and fall, each culminating in a Demo Day where startups pitch to investors and the wider tech community.
Fun Fact: Techstars London has a diverse portfolio, with recent cohorts featuring startups from various countries and focusing on cutting-edge technologies like AI, blockchain, and IoT. This diversity reflects London's status as a global tech hub and Techstars' commitment to fostering innovation across borders.
Antler
Antler is a global early-stage VC firm that takes a unique approach to building groundbreaking technology companies from the ground up, with programs in multiple cities, including London.
Funding: £4,000 grant paid in two instalments during the first phase; £120,000 investment for 10% equity in selected companies; An additional £80,000 provided to start building the foundations of the business.
Duration: 10-week residency in Central London; Additional support and resources provided post-investment.
Unique aspects:
- Strong emphasis on team formation and idea validation
- A global community of co-founders and access to talent
- Hands-on support from experienced founders and advisors
- Focus on building companies across various sectors, including FinTech, PropTech, and SaaS
Best suited for: Pre-team, pre-idea stage entrepreneurs; Experienced business operators, technologists, and serial entrepreneurs; Individuals ready to commit full-time to starting a new venture.
Application process:
- Online application: Detailed questions about your background, skills, and motivations
- Initial screening: Antler team reviews applications (less than 5% of 50,000+ annual applicants are accepted)
- First-round interview: Discussion about your expertise and entrepreneurial potential
- In-person assessment: Evaluation of your skills, teamwork, and fit for the program
- Final selection: Chosen candidates are invited to join the next cohort
Antler London has made over 100 investments, with more than 75% of founders raising further funds within 18 months of Antler's backing. The program is divided into two phases: the first focuses on team formation and idea validation, while the second (post-investment) concentrates on building the MVP, gaining traction, and preparing for the next funding round.
Fun Fact: Antler's portfolio of UK companies has reached a combined valuation of over $450 million, demonstrating the program's effectiveness in nurturing successful startups in London's vibrant tech ecosystem.
Barclays Eagle Labs
Barclays Eagle Labs is a national network of incubator spaces designed to support ambitious entrepreneurs and businesses in their growth journey. With a strong focus on innovation and technology, Eagle Labs provides a unique ecosystem backed by one of the UK's largest banks.
Offering:
- Co-working spaces and private offices
- Mentoring and business support
- Access to funding opportunities
- Industry-specific accelerator programs
- Events and workshops
Duration: Flexible, with various membership options available; From part-time hot-desking to full-time resident memberships.
Unique aspects:
- Backed by Barclays, providing fintech expertise and industry connections
- Specialised focus areas, including climate tech and AI
- Access to state-of-the-art facilities, including maker spaces in some locations
- Part of a national network, allowing for cross-location collaboration
- Partnerships with local universities and industry bodies
Best suited for: Fintech startups and scale-ups; Climate tech and sustainability-focused businesses; High-growth technology companies across various sectors.
Application process:
- Online inquiry: Express interest through the Eagle Labs website
- Initial screening: Eagle Labs team reviews your business profile
- Interview: Discussion about your business needs and goals
- Location-specific requirements: May include pitching to a selection panel
- Membership offer: If accepted, you'll receive an offer for the appropriate membership level
Eagle Labs operates across multiple locations in the UK, including London, Cambridge, Brighton, Glasgow, and Newcastle. Each lab has its own focus areas and specialities, often aligned with local industry strengths.
Fun Fact: Barclays Eagle Labs has recently relaunched its Cambridge location with a specific focus on climate tech startups, demonstrating the program's commitment to supporting businesses tackling pressing global challenges. This lab features an energy-efficient design and will be reviewed by Planet Mark for carbon footprint assessment, aligning with its mission to support sustainability-focused enterprises.
Founders Factory
Founders Factory is a leading startup accelerator and venture studio founded in 2015, offering a unique blend of corporate partnerships and hands-on operational support to early-stage startups.
Funding: £50,000 cash investment; £220,000 worth of in-kind services; Potential for follow-on funding up to £150,000 upon successful completion of the program.
Duration: 6-month accelerator program; Ongoing support post-program through their extensive network.
Unique aspects:
- Corporate partnerships provide pilot opportunities and industry expertise
- Sector-specific programs in Fintech, Health, Climate, and Deep Tech
- Access to a team of 60+ operators with diverse expertise
- Global presence with operations across 5 continents
- Venture studio model for building companies from scratch
Best suited for: Startups looking for corporate collaborations; Early-stage companies with innovative solutions in Fintech, Health, Climate, or Deep Tech; Founders seeking hands-on operational support and industry connections.
Application process:
- Online application: Detailed form covering your team, product, and market opportunity
- Initial screening: The Founders Factory team reviews applications
- First-round interview: Discussion with the investment team about your startup
- Deep dive: In-depth examination of your business model and technology
- Investment committee pitch: Present to the Founders Factory investment committee
- Final selection: Chosen startups are invited to join the program
Founders Factory has a strong track record, having invested in over 300 startups across multiple sectors. Their portfolio companies have collectively raised over £400 million in follow-on funding. The accelerator is known for its sector-specific focus and has helped launch successful companies like Perlego, Acre, and TrustedHousesitters.
Fun Fact: Founders Factory was co-founded by Brent Hoberman, a serial entrepreneur known for co-founding lastminute.com. The accelerator's unique model of combining corporate partnerships with startup acceleration has been recognised by the Financial Times, ranking #4 in their European Startup Hubs report.
Conclusion
When choosing an accelerator, it’s essential to consider your startup's specific needs, stage, and industry focus. Each program offers unique benefits, and the right choice can significantly impact your startup's growth trajectory. Remember to thoroughly research each program's terms, mentorship quality, and alumni success stories before making a decision to submit an application.
At the end of the day, engaging in one-on-one conversations with program directors before applying to any accelerator is invaluable. Building a startup is fundamentally about establishing human connections, and the relationships you cultivate throughout this journey can be pivotal. By discussing your vision and goals directly with the program leaders, you can gain deeper insights into how their accelerator aligns with your aspirations, ensuring a more informed decision that could enhance your startup's potential for success.
