#teamupfaq

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Venture Capital

Venture Capital (VC) funds startups or small business in order to grow fast in exchange for equity. The VC's investment is a business characterized by high risk, high-performance and long-term benefit for it. 

Companies funded by venture capital have grow faster than their competitors. Some examples of venture capital funded companies are Microsoft, Facebook, Yahoo and Amazon.

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Incubator

An incubator (business incubator) provides all the services to ideas in order to become startups.

More specifically, an incubator provides workplace, guidance from experienced mentors, secretarial services, and contacts with influential people. Usually, the incubator gets in return equity of the company or a monthly fee. 

The average residence time in an incubator is one to two years. Then, the startup can be installed in its premises or to get into an accelerator.

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Accelerator

A accelerator (business accelerator) provides all the services and pre-seed funding to startups in order to grown into a profitable business. The services that accelerator provides are similar to incubators. The main difference of accelerator and incubator is the sum of money that accelerator provides in exchange for equity.

The average residence time of a startup to the accelerator is six months. The selection criteria to get in the accelerator are strict and are likened to those that have large universities for their prospective students. To enter an accelerator is good to have a prototype and a strong team

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Advisor

Advisor's advice and network can help startups to grown into successful business. He or she has expertise or specialist knowledge on their area. Usually, the advisor wants for his services part of the share capital of the company or a sum of money.

A good advisor is very important for the development of a startup. You should be very selective for the advisor. Make sure he or she can exhibit this level of mastery and that it’s not all “fluff and puff”.

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Mentor

Mentor is "the man". He inspires, guides and helps the entrepreneur in the development of his company. In most cases, mentor is a well known entrepreneur and his advices stemming from his experience. Mentor services are offered selflessly and he does not ask for a monetary consideration or share capital of the company.

Besides advice, a mentor offers networking to the entrepreneur. A typical example of mentor is Sean Parker to Mark Zuckerberg for Facebook. Parker offered to Mark his past experiences from Napster and brought him into contact with the first major investor in Facebook, the Peter Thiel.

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About Teamup

Teamup is the first and only match-making platform for greek entreprenuers. Furthermore, it was built in order to help new and already runnnig startups to become more successful and biggest faster.

Teamup provides connections among people with ideas, people with skills and services in order for an idea to become a successful startup.

In addition to that, startups can easily reach VCs, angel investors, mentors, advisors, B2B services, media websites and more in order to add Value to their startup.

Teamup was built in the second half of 2013 and opened its doors in June 2014.