Here is a list of common terms and acronyms used in startup accelerators and mentioned throughout this book.
Accelerator: A short curriculum-based program for startups typically taking place over 1-3 months.
Amazon Web Services (AWS): The cloud computing platform from Amazon who are actively involved in many startup accelerator programs.
Batch: A group of startups participating in startup accelerator programs. Sometimes also referred to as batchies.
Cohort: Same as a batch, it’s a group of startups in a single program. Similar to a vintage of a wine.
Elevator Pitch: A quick startup pitch – given its name because it should be no longer than a ride in an elevator.
Entrepreneur in Residence (EIR): A serial founder who joins an accelerator or venture fund part-time while they work on their next startup idea.
Key Performance Indicator (KPI): An important metric withina startup used to track progress. For example, new user signups, monthly revenue and so on.
Incubator: Similar to an accelerator but taking place across a longer program time frame. Incubators also typically invest larger amounts of capital than an accelerator and take more company equity in exchange.
Mentor: An industry expert who meets with startups in an accelerator. This usually takes place in the form of group talks and individual office hour sessions.
Point of Contact: A designated member of the accelerator staff assigned to each company. It’s who they meet with most often and where they start when they have a question.
Wantrepreneur: Low-quality founders without much experience who are trying to break into the startup scene. Often going about it all the wrong way, or doing it for selfish reasons.