Posted by Nivedita Kumari – Technical Anchor Mentor, Accelerator Program, and Prabhu Thiagarajan – Accelerator Success Mentor, Accelerator Program
This International Mentoring Day, we recognize that mentorship is a critical part of the startup journey. Google for Startups Accelerator programs provide founders and teams with the technology, expertise, and mentorship they need to grow and succeed. As program mentors, we had the opportunity to engage with and empower many early stage startups helping them scale and grow.
The Startup Challenge
Although the startup ecosystem is rapidly expanding, success is rarely a smooth journey. On an average, it takes startups two to three years years to turn a profit, and fewer than 10% of startups that raise a seed round successfully raise a Series A investment. Even those that manage to secure funding, still face other hurdles like driving organic growth, fundraising, building brand and market expansion. Mentorship and access to networks has been proven time and again to make the critical difference for successful founders.
To level the playing field for startup success, Google for Startups connects founders to the people, programs and best practices they need to grow and scale their companies. Google for Startups Accelerator programs provide participants with hands-on mentorship and support from Googlers as well as experienced entrepreneurs and investors. These experts work directly with startups over the course of 10 weeks to provide tailored technology, product development, marketing, sales and fundraising.
As Google for Startups Accelerator program mentors, we had the opportunity to partner closely with various founders from around the world through the 2023 accelerator cohorts, including those focused on Cloud and Climate Change. One of these startups for the Cloud cohort was RealKey, an Automated Loan Processing (ALP) SaaS platform.
RealKey automates document collection/review processes and centralizes communication to reduce touch points with underwriting. Through the Google for Startups Cloud Program, RealKey was able to accelerate Google AI based document processing and loan process automation to help create a clean loan submission process. Google for Startups helped RealKey reduce loan processing time and frustration for all parties involved.
“Google’s Lending DocAI service enabled our platform to include document processing where we classify documents and run complex validation algorithms to ensure that a loan package meets all lending criteria. This is typically a manual process and our platform saves our clients valuable time and labor.”
– Christopher Hussain, Founder & CEO, RealKey.
The Google for Startups Accelerator program provides startups with the resources and support they need to thrive in the competitive world. Through its comprehensive program, startups gain access to funding, technical expertise, networking opportunities, and mentorship from Google AI experts, enabling them to overcome technical challenges, develop effective go-to-market strategies, and accelerate their growth. With the guidance and support of Google AI experts, startups can navigate the complexities of developing and commercializing their products, effectively reach their target audience, and establish themselves as leaders in the field of machine learning.
Next Steps for Founders
If you’re a startup founder, Google for Startups Accelerator programs are a great way to get the help you need to grow your business and achieve your goals. Applications are now open for Google for Startups Accelerator: Women Founders and Black Founders cohorts in North America. We encourage applications from U.S. and Canadian headquartered technology startups until February 1, 2024, with the 10-week programs commencing in March. Learn more and register here.
In addition to accelerator programs, Google for Startups offers a wide range of programs and initiatives to help startups at every stage of their journey. Whether you’re just starting out or ready to scale, Google for Startups can help you connect with the right technology, expertise, and community to grow your business. Explore the best Google for Startups offerings for you and your team here.