FAQ

Norman Economic Development Coalition
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FAQ

Frequently Asked Questions About Small Business Accelerators

What is a small business accelerator?
A business development group that provides resources and mentors for new companies to give a beginning business an 80% chance of success. eTec specifically targets emerging technology companies.

Hoes does it work?
eTec uses a structured program that analyzes a business’s strengths and weaknesses in the area of marketing, operations, finance and administration. It then provides assistance to boost the new business to the next level.

What does it do?
eTec teaches hands-on entrepreneurial development tailored specifically to the business owner’s needs.

Does an accelerator help me start my business?
Yes, but eTec will go beyond business start-up to teach owners how to “quick-start” their businesses. Average growth through an accelerator is 7% to 22% faster than through more traditional methods, because owners have access to experts who can show them the best way to run their operations.

What kinds of businesses are in accelerators?
Though any type of business can be housed in an accelerator, eTec will concentrate on high-tech companies with the potential to become major employers in Norman.

Can growing or mature companies use the accelerator?
Yes. eTec wants to make services available to companies in all stages of growth, even if they are not physically located in the accelerator.