How to Maximize Your Startup’s Chances of Success. Insights from Founder of the first startup accelerator in Belarus

The global startup failure rate is a staggering 90%, with 21.5% of new businesses failing within the first year and 50% within the first five years, according to data from the U.S. Bureau of Labor Statistics.  This high failure rate is often due to the lack of proper guidance and support, which is where startup accelerators and mentorship programs come in. Startup Accelerators and mentorship programs have emerged as pivotal solutions, providing early-stage companies with access to training, funding, and networking opportunities.

In fact, research by Startup Genome found that startups that participate in accelerator programs are 23% more likely to survive past the first five years. “The success of a startup largely depends on the knowledge and resources available at the early stages,” says Liizaveta Peniaz, a seasoned startup mentor and founder of Belarus’s first Startup Accelerator. “When entrepreneurs have access to the right tools, guidance, and support, they can turn their ideas into scalable businesses with a much higher chance of survival.”

Lizaveta has been at the forefront of developing educational and mentorship frameworks that significantly enhance startup resilience and growth. “In our first cohort, we focused on selecting strategic thinkers and high-potential startups, narrowing down over 500 applications to just 25,” Lizaveta explains. The potential of each startup is assessed based on key criteria such as the innovativeness and scalability of the idea, a strong and cohesive founding team with relevant skills, the size and prospects of the target market, the presence of a prototype or MVP, the potential for rapid growth and monetization, and the team’s ability to effectively utilize the resources and mentorship provided by the accelerator.

A cornerstone of her accelerator’s success is a rigorous three-month program where each startup team is paired with a tracker—an expert who works closely with the team to guide them toward their goals. “Each week, trackers set goals, monitor progress, and review results with the teams, maintaining constant alignment on tasks and progress. This structure is key to the success of our accelerator,” Lizaveta emphasizes.

“The accelerator model combines structured learning with real-world applications, allowing entrepreneurs to navigate the unpredictable terrain of the startup world with confidence,” she says. Lizaveta’s innovative approach has led to the success of numerous startups in sectors like food-tech and AR/VR, and AI . She emphasizes that each success story provided valuable insights into the ecosystem, and showed the transformative power of mentorship. The foundation of Liizaveta’s methodology is rooted in a structured educational curriculum that equips entrepreneurs with the fundamental skills needed to launch and scale their ventures.

Lizaveta’s accelerator focuses not only on educating startups but also on training experts and trackers who work, or plan to work, with startups. This helps us build our own competencies while also inviting international experts to contribute. The programs offer specialized courses for product managers, tracker training, and workshops for potential investors, providing a comprehensive understanding of the startup lifecycle. “Education is more than just theory; it’s about connecting people with the right mentors and offering practical experiences that prepare them for real-world challenges,” Lizaveta explains. TLizaveta’s accelerator is also known for pioneering the first tracker training program in Belarus, aimed at developing a new generation of experts who support startups.These graduates later established Belarus’s first tracker association. . “I’m proud that we brought together experts from different fields and built a solid foundation for supporting entrepreneurship,” she shares.

Under her leadership, the accelerator has facilitated the development of a range of innovative projects, including a food-tech startup that quickly grew and reached an annual revenue of $1 million in revenue and an AI-based medical application that received international recognition. The food-tech startup, focused on personalized nutrition and meal delivery, exemplifies how innovations can effectively address everyday challenges while also creating significant economic value. Another notable project leveraged AI to analyze CT scans during the COVID-19 pandemic, significantly reducing the workload on healthcare professionals. “Seeing these startups succeed is incredibly rewarding,” Lizaveta says. “It’s proof that with the right guidance and resources, even the most challenging ideas can be brought to life.”

Another key element of Lizaveta’s accelerator is the development of an accessible online platform that complements the in-person training programs. “This platform offers educational materials, expert consultations, and structured networking, allowing entrepreneurs to access critical support beyond geographical limitations “We wanted to make sure that support and resources are available to startups, regardless of their location.” This platform has not only enabled startups to connect with industry experts but has also fostered a vibrant community of entrepreneurs who actively share their experiences and collaborate on projects. “Networking is essential for growth,” she emphasizes. It’s about building relationships that can open new opportunities and collaborations, essential for a startup’s long-term success. Lizaveta’s distinctive approach to mentoring startups lies in her ability to create a comprehensive support system that covers every phase of a startup’s lifecycle, from ideation to scaling. She believes that flexibility and adaptability are key to long-term success in the ever-evolving world of startups, where technology, markets, and customer needs are constantly shifting. “Our programs are designed to be both practical and forward-thinking,” she explains. “We equip entrepreneurs with skills they can immediately apply while also focusing on long-term strategy and resilience.”

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