Start with free, local help: Small Business Administration (SBA) resource partners offer no-cost or low-cost advising across the country through Small Business Development Centers, Women's Business Centers and SCORE mentors. Many universities also run incubators and entrepreneurship programs for researchers. Accelerators can add money and networks, but compare what they ask for in return, especially equity, an ownership stake in your company. Walk away from anyone who charges you to meet investors or promises guaranteed funding.
Free and low-cost help from SBA resource partners
Use the SBA local assistance search to find resource partners by ZIP code. Explain your technology, current stage and immediate decision so the provider can assess the fit. Verify current services, eligibility and costs with the provider.
Small Business Development Centers
Small Business Development Centers (SBDCs) provide no-cost individual business advising and low-cost training. Often hosted by universities and colleges, they can help you work through business planning and financial assumptions. Ask about experience with research-based companies and specialized equipment needs.
Women's Business Centers
Women's Business Centers (WBCs) are SBA-funded centers focused on women entrepreneurs and open to everyone. Ask which services address your immediate needs and whether an adviser has relevant industry experience.
SCORE
SCORE provides free mentoring through volunteer business mentors. Seek someone whose operating experience matches your next decision, such as selling to industrial customers or managing manufacturing.
APEX Accelerators help companies learn to sell to the government; if that market fits your technology, explore women-owned business certification and federal contracting.
University incubators, research parks and entrepreneurship programs
An incubator supports developing businesses, while a research park typically provides facilities near research organizations. Offerings may include space, shared equipment, introductions and entrepreneurship programming. Ask what access actually includes: equipment availability, technical support and permission to conduct your planned work.
If the program belongs to your employer, ask about conflict-of-interest rules, which address competing responsibilities, and intellectual property (IP) terms covering inventions and related rights. Access to workspace does not establish permission to use employer-owned technology.
Regional I-Corps programs offer another entry point for customer discovery, the process of testing assumptions through conversations with potential customers. Women-focused programs exist nationally and regionally; judge them by the same criteria as any program, including relevant expertise, transparent terms and evidence of useful outcomes.
How to evaluate an accelerator
An accelerator is a structured program intended to help a startup develop faster, sometimes with investment. Start with your bottleneck: customer access, technical validation, manufacturing or financing. Request written terms and speak privately with former participants whose companies resembled yours.
| Question to ask | Why it matters | Good sign | Warning sign |
|---|---|---|---|
| What equity is taken, under which terms, implying what valuation? | Ownership cost extends beyond cash received. | Clear ownership calculation and written rights. | Unexplained dilution or additional rights. |
| How much cash arrives, and when? | Your spending depends on available funds. | Written payment schedule and conditions. | Investment described only as possible. |
| What fees apply? | Charges reduce the program's practical value. | Complete, itemized costs. | Hidden charges or investor-access fees. |
| What are the length and location requirements? | Attendance can interrupt research and operations. | Clear schedule and attendance expectations. | Unclear relocation or participation demands. |
| Who mentors founders, and how often? | Relevant, available expertise determines usefulness. | Verifiable experience and scheduled meetings. | Prominent names without confirmed involvement. |
| What are alumni follow-on funding and survival outcomes, including unsuccessful founders? | Later fundraising and continued operation provide context. | Defined measures covering the whole participant group. | Selected success stories without supporting data. |
| What IP and confidentiality terms apply? | Disclosures and ownership affect commercialization. | Clear boundaries and reviewable agreements. | Broad invention claims or unclear disclosure practices. |
In a hypothetical cash-for-equity deal, $100,000 for 5% implies a $2 million post-money valuation, meaning the company's implied value immediately after investment, calculated by dividing the investment by the ownership fraction. Additional rights can change the deal's practical cost; review founder equity and ownership records and confirm equity, IP and contract terms with a qualified attorney.
Red flags
- Pay-to-pitch events that charge founders for access to investors.
- Promises of guaranteed funding or guaranteed grants.
- Large upfront fees for vaguely defined “matchmaking.”
- Broad claims on your intellectual property.
- Pressure to sign before independent review.
- Vague or unverifiable mentor lists.
- Success claims without data or explanations of who was counted.
Legitimate grant programs do not require paying a third party to apply. Verify application requirements with the administering agency or official source.
Finding and working with mentors
Look through professional societies, alumni networks, former managers, industry conferences and SBA partners. Match experience to a specific problem. A research commercialization mentor may offer different help from someone experienced in procurement or production.
Make a specific, time-boxed request: describe the decision, explain why their experience fits and propose a brief conversation. Share an agenda beforehand. Follow up with your next action, then report what happened so the mentor can refine their guidance.
Keep the relationship two-way: respect boundaries, prepare carefully and share useful observations from your field. A mentor helps you think through decisions; a sponsor actively recommends you for an opportunity. Neither relationship requires surrendering your judgment.
If an advisor receives equity, that equity should vest, meaning ownership is earned over time or against agreed milestones. Put the expected work, availability and ending terms in writing.
Questions to ask any program before you commit
- Which immediate company milestone will this program help achieve, and how?
- What cash, equity, fees and other commitments are required?
- Who will work directly with the company, and how available are they?
- Can former participants discuss both useful results and unmet expectations?
- What happens to obligations, information and IP if participation ends early?
Frequently Asked Questions
Can I get a business mentor for free?
SCORE offers free mentoring, and SBA resource partners provide free or low-cost support. Describe the expertise you need when requesting a match.
Do I need an accelerator to start a technology company?
An accelerator is optional. Consider one when its resources address a specific obstacle and justify the ownership, money and time requested.
What is the difference between an incubator and an accelerator?
Incubators commonly emphasize workspace and ongoing business support. Accelerators generally organize support around a structured program. Compare actual services because labels alone reveal little.
How can I check whether a startup program is credible?
Request written commitments, verify mentor participation and talk with former participants beyond featured success stories. Treat refusal to provide reviewable terms as a reason to step back.
Should I give a mentor equity?
Informal advice alone does not establish the value of an ownership grant. Define any continuing advisory role and confirm proposed equity and vesting terms with a qualified attorney.