Through the Global Accelerator Network all accelerators and the startups that go through these programs are able to visit other member locations throughout the world. This “Exchange Program” offers a unique opportunity to visit a region of interest for potential expansion, or a region where the market is stronger etc. On these exchange trips, companies are allowed to work out of the hosting accelerator’s office and have the chance to make local connections through introductions and meetings and expand their business network.
InnoBright Technologies is a video animation company that went through ABQid, an accelerator based out of Albuquerque, and spent two weeks in Los Angeles with the MuckerLab accelerator. These couple of weeks were extremely beneficial to innoBright and resulted some company shifts. For example, they changed their target customer with the insight from MuckerLab’s founders. Their new target audience allows for return revenue in the short-term. Through pitching amongst the Muckerlab accelerator they received valuable and diverse feedback. And they made high profile connections that ended in a meeting with a large potential customer. Lastly, innoBright left Los Angeles with the understanding that real-life product testing is imperative for their business.
For details on how exactly Raghu Kopalle, CEO of innoBright Technologies, was enlightened on his trek to L.A. read the blog post here.