AngelPad has scored successes like Postmates by sticking to its roots - Business Insider

This story is available exclusively on Business Insider Prime.AngelPad was one of the earliest accelerators — companies that help founders get their startups up and running — and is still going strong a decade later.

"A big part of Gatik's success to date is because of AngelPad," said Narang, the startup's CEO. He continued: "AngelPad ... played a huge role in every way."Accelerator programs have become increasingly popular over the last 10 to 15 years. They offer aspiring founders coaching and mentorship; guidance on fundraising, marketing, and product development; peer support; and often the first cash investment the founders' see.

"We get joy out of working with the founders early on and figuring out what the company is, and kind of get them to the start, rather than just being financial investors," Korte told Business Insider in an interview last week. "That was core idea behind it."While many other accelerators have supersized over the last decade, taking in larger and larger classes and expanding to new locations, Korte and Magescas have largely stayed close to their original vision.

"It's a very intense experience, where they spend a lot of time with us trying to figure out the very earliest stages of their companies," Korte said. They do rule out certain kinds of startups, though: those that compete directly against companies they've already backed. That's something other accelerators — which can work with dozens or even hundreds of companies are year — can't promise.By its very nature, running an accelerator, particularly the way Magescas and Korte do it, involves making bets on the future.

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