Scaling can take different forms, from expanding products and services to enhancing marketing efforts. Every option requires meticulous planning and execution. In this article, Forbes explores several avenues startups can adopt to scale, including a look at accelerator programs with a spotlight on Intel Ignite’s accelerator. Tzahi “Zack” Weisfeld, Intel’s Vice President and General Manager, shares his invaluable insights since launching the program, highlighting the value of an ecosystem designed to collaborate with startups at any stage of their development.
Here are some essential takeaways from the article:
- “The ability to scale rapidly is a key factor in determining the success of any business venture.” Vijay Pereira, NEOMA Business School Professor
- Scaling is vital for growth and success, but don’t rush into anything without due diligence. Scaling requires planning, strategy, and execution to minimize risks.
- Scaling too quickly can lead to a lack of focus, ineffective budgeting, and resource misallocation – undermining your success by exposing you to unnecessary risk.
- Get the right advice from experienced professionals and ensure that you have a solid strategy in place.
- For fast-tracking your growth and accessing valuable resources, such as mentorship, funding, and business counseling, join an accelerator or incubator program.
Tzahi Weisfeld reiterates the importance of mentorship, “Mentorship is crucial: we pursue both industry and corporate mentorship relationships and pair them with the right startup to help them navigate their way to success.”
By the publishing date of this article, Intel Ignite had supported nearly 100 startups in scaling up, with numerous others on the horizon.
Find out how to make the right choices for your venture.