Global venture capital firm, Accel, has launched ‘Decoding Marketplaces’, a digital repository of experiences in backing successful marketplaces. The initiative is designed to help entrepreneurs identify the building blocks of successful marketplaces and gain experience from their peer group.
Indicative learnings from ‘Decoding Marketplaces’ include identifying test beds, onboarding the best suppliers and retaining them on the platforms, hiring a risk team in a business-to-business (B2B) marketplace, and dealing with large competitors, thus giving upcoming entrepreneurs tactical and strategic learning.
‘Decoding Marketplaces’ will also provide a platform for emerging founders to network with successful marketplaces founders. The Decoding Marketplaces Startup Hunt invites early-stage entrepreneurs who have raised less than USD 2 million in funding to apply for an opportunity to present their ideas to an Accel investment committee for feedback, along with perks like office hours with any Accel partner, access to the Launchpad co-working space and 1:1 mentorship from its portfolio founders.
Anand Daniel, Partner at Accel, said, “….. Decoding Marketplaces will demystify marketplaces’ basics, share learnings and success stories with to-be / young founders and give access to investors and industry events.”
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