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Best ATS for Innovation: Applicant Tracking System for Accelerators and Incubators (2024)

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Samuel AdeyemoMarketing ManagerOct 16, 2024 10 minutes

What defines the best ATS for startup accelerators and incubator innovation programs, and how can it impact your organization's application submission and selection process?

We'll help you understand key features of an ATS, such as form customization, analytics, intuitive design, application submission stages or rounds, and selection processes, that meet the diverse needs of innovation programs. We'll emphasize how these features can help maximize your team's potential.

What we will discover together:

  • The right Applicant Tracking System (ATS) can significantly improve an innovation program application process. Key features include form customization, analytics, collaborative selection processes, and review rounds.
  • AcceleratorApp, a software built by an incubator manager for other accelerator and incubator managers. AcceleratorApp ATS, dedicated to improving the process of selecting and reviewing startup applications through an innovative platform. It offers funnels for different programs and multiple application stages or rounds in each funnel, with automation that streamlines the application process based on preset criteria.

 


 

The Innovation Ecosystem in 2024

In 2024, startups play an increasingly critical role in driving economic growth, social impact, and technological advancement. Their agility and innovative approaches propel breakthroughs across various industries, making them essential contributors to the global economy and the future of technology. 

Role of Accelerators and Incubators

Accelerators and incubators play a more important role in startups' early stages by providing essential support, such as access to networks, funding opportunities, resources, coaching, office spaces, and mentorship from entrepreneurs who have walked their paths and can offer guidance and advice for future success.

They provide structured programs that help startups refine their business models, develop products, and navigate the challenges of entering the market, significantly enhancing their chances of success.

The Challenge of Managing Applications

As accelerators and incubators become more popular, they receive many applications from startups eager to join their programs. Handling this high volume manually can lead to inefficiencies, delayed responses, and overlooked promising startups or businesses. It is important to process applications efficiently to quickly identify and support the most innovative startups while maintaining a positive reputation.

 

Introducing Innovation Applicant Tracking Systems (ATS)

To tackle these challenges, many organizations are adopting Applicant Tracking Systems (ATS). An ATS is a software solution that automates and streamlines the application management process, from submission to selection. It helps organize applicant data, track progress, and facilitate communication between applicants and the evaluation team.

An ATS is particularly important for accelerators and incubators as it addresses their unique needs for efficiently handling large applications. It enables collaborative evaluation by multiple team members, ensures timely communication with applicants, and provides analytics for informed decision-making. By implementing an ATS, innovation programs can improve operational efficiency, improve the applicant experience, and ultimately select the best candidates to nurture and develop.

 

Why Accelerators and Incubators Need an ATS

Accelerators and incubators often face the challenge of managing a massive influx of applications from startups eager to join their programs. Manually handling these applications can be overwhelming, time-consuming, and prone to errors. Implementing an ATS is critical to efficiently navigating this complexity. When scouting for an ATS for your innovation program, you want to ensure it can:

  1. Handle high application volumes.
  2. Facilitate effective collaboration between team members.
  3. Ensure a great experience for your applicants.
  4. Keep applicant data organized and secured in compliance with data privacy rules.

 


 

Key Features to Look for in an Innovation ATS

When scouting for an ATS for your accelerator, incubator, or innovation program, it's important to consider features that align with your specific needs and improve your operational efficiency.
Below are some key features to look for—all of which are currently utilized in AcceleratorApp's ecosystem:


1. Handles High Application Volumes

An ideal ATS should help streamline the review process for hundreds or even thousands of applicants by:

  • Automating application collection: Gathers all applications in a centralized platform, eliminating the need to sift through emails or physical documents.
  • Automating round selection: Approves or rejects based on preset criteria such as location, development stage, etc.

 

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  • Providing efficient sorting and filtering: Allows for quick categorization based on criteria like industry, stage of development, or funding needs.

 

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  • Sending bulk communication: Enables sending updates on application rounds or requests for additional information to multiple applicants simultaneously.
  • Tracking application status: Provides real-time visibility into where each application stands in the review process.
  • Reducing manual errors: Minimizes the risk of overlooking qualified candidates due to human error.

 

2. Customizable Application Forms

Being able to tailor application questions to your program's unique requirements is essential. A robust ATS should allow you to:

  • Design custom forms: Create application forms that reflect the specific information you need from applicants, such as industry focus, stage of development, or team composition.

 

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  • Dynamic questioning: Implement conditional logic to display or hide questions based on previous answers, ensuring a streamlined application experience.
  • Brand consistency: Customize the application portal's look and feel to match your organization's branding, providing a cohesive experience for applicants.
  • Custom fields: Collect custom data in preset fields, which allow you to import them into the startup data portfolio, ensuring that the data remains consistent across the platform.

 

3. Facilitates collaboration

An ideal ATS should improve teamwork by enabling organization members and evaluators to work together seamlessly on applicable evaluations. It should offer:

  • Shared access to applications: Evaluators can view and assess applications in real time.
  • Collaborative evaluation tools: Features like notes and scoring systems facilitate collective decision-making.
  • Task assignment and tracking: Assign review tasks to specific team members or evaluators and monitor efficiently.
  • Centralized communication: Keep all discussions and feedback in one platform to reduce miscommunication.

 

4. Enhances Applicant Experience

Providing timely communication and feedback to applicants is crucial for maintaining a positive reputation. An ATS helps by:

  • Automated notifications: Send real-time updates to applicants about their application status.

 

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  • Personalized communication: Enables customized messages for different stages or rounds of the application process.
  • User-friendly interface: Simplifies the application process with intuitive forms and clear instructions.

 

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  • Applicant portal: Provides each applicant with a portal to check their application status, take notes, or submit further requested data.
  • Feedback mechanisms: Allows for constructive feedback to applicants, even if they are not selected.

 

5. Applicant Data Protection

Protecting applicant data is a legal obligation and builds trust with your applicants. An adequate ATS should offer:

  • Data anonymization features: Anonymize applicant data during the evaluation process to remove biases related to gender, ethnicity, or background, promoting fair assessments.
  • Compliance with regulations: Adhere to data protection laws such as GDPR or CCPA, ensuring that applicant information is handled legally and ethically.
  • Secure data storage: Utilize encryption and other security measures to protect sensitive information from unauthorized access or breaches.
  • Permission control: Allows you to set user permissions so team members can access only the data necessary for their role.

 

6. Data Management Compliant

Keeping applicant data organized and secured is essential for both efficiency and legal compliance. An ATS assists with:

  • Centralized data storage: Organizes all applicant information in a secure, easily accessible database.
  • Data security measures: Implements encryption and other security protocols to protect sensitive information.
  • Regulatory compliance: Ensures adherence to data protection laws like GDPR or other regional regulations.
  • Easy reporting and analytics: Provides tools to generate reports and analyze data without compromising security.

 

7. Integration Capabilities

Seamless integration with other tools and platforms enhances efficiency and data consistency. Look for an ATS that can:

  • Sync with CRM systems: Connect with your customer relationship management software to keep applicant and participant data unified.
  • In-built emails: Automate communication with inbuilt email services, enabling personalized and timely messages.
  • Calendar integration: Coordinate interviews and meetings by syncing with calendar applications, simplifying scheduling for your team and applicants.
  • API access: Use application programming interfaces to develop custom integrations or connect with more common tools your organization uses with Zapier.

 

8. Analytics and Reporting

Insightful analytics and reporting tools help you track performance and make data-driven decisions. Your ATS should provide:

  • Application metrics tracking: Monitor key metrics such as the number of applications received, acceptance rates, and applicant traffic sources using integrations like Google Tag Manager and Google Analytics 4.

 

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  • Program outcome analysis: Evaluate the success of your programs by tracking startup progress, funding raised, or other relevant KPIs over time.
  • Customizable reports: Generate reports tailored to your needs, whether for internal review, stakeholder updates, or compliance purposes.
  • Visual Dashboards: Access at-a-glance insights through visual representations like charts and graphs, making data more accessible to interpret and share.

 

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Accelerators, Incubators, and Innovation Programs should use industry-specific ATS––this is the game changer

 

Choosing the right ATS for innovation requires finding a platform that provides a wide range of customization options and extensive features, just like the abovementioned features. This level of customization enables you to incorporate your organization's unique brand identity through color schemes, logos, favicons, whitelabel URLs, and more.

A customizable ATS makes community members (applicants, startups, staff, evaluators, mentors, program managers, etc.) feel at home with your organization and fosters a more profound sense of trust and belonging. In our comprehensive market research on niche ATS for innovation, AcceleratorApp came out on top, acclaimed for its exceptional customization capabilities and user-friendly interface for applicant startups, evaluators, and program managers.

You can customize various aspects of the platform, including branding elements, URLs, appearances, public pages, application portals, and onboarding processes. With AcceleratorApp's exceptional customer service, you have nothing to worry about during onboarding.

What people are saying about AcceleratorApp?

"Ever since using AcceleratorApp, we've seen a consistent 63% increase in applications to our global innovation challenges. Their team's support during onboarding and beyond is exceptional. The user-friendly application portal, customizable forms, and automated emails have saved us significant time and reduced errors." Claudia Zaccari, Analyst, Alliance of Bioversity International and CIAT of CGIAR.

 

Top 4 ATS Solutions for Innovation

With so many application tracking systems on the market today, choosing the right one for your innovation program can be a hassle. That's why we have rounded up the top applicant tracking systems well suited for innovation programs.

  1. AcceleratorApp: The Best and Most Recognised ATS for Innovation with other fully customizable features to manage applications, cohorts, mentorship, startup data, and program events seamlessly.
  2. Babele: Versatile ATS for Innovation.
  3. YouNoodle: Tool to collect startup applications.
  4. F6S: Free platform to collect applications.

Let's review these application tracking systems in detail and understand why they are considered ideal for innovation. We'll start with AcceleratorApp, recognized as the best ATS for innovation and is the top choice for every incubator and accelerator.

 

1. AcceleratorApp - The Best and Most Recognized ATS for Innovation, Trusted by the World's Largest Accelerators and Incubators!

AcceleratorApp shines over others as a pioneer software in the sector. It was meticulously built by a former innovation manager to cater to the needs of other innovation managers. It stands out with an array of adaptable features, offering accelerators and incubators the flexibility, scalability, and seamless integration they need to manage their application processes better.

 

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Positioned as the preferred platform for innovation, AcceleratorApp is the go-to for innovation organizations large and small, focused on getting high-quality startups and providing the best application and onboarding experience for their applicants. AcceleratorApp is easy to understand, use, and manage innovation programs.

Apart from our renowned ATS, AcceleratorApp offers a better way to seamlessly manage cohorts, mentorship, program events, startup data, and calendars.

 

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Endorsed by Wellfound, a leading ATS tool for startups and organizations to post jobs and manage candidate applications, AcceleratorApp has earned accolades such as Top 10 Sustainable Companies in Innovation and Best Incubator Software Companies to Work for in 2024. Our impressive client roster includes MITxDesign, Impact Hub, Hultz Prize, German Accelerator, Climate-KIC, and the University of Toronto Entrepreneurship, to name a few.

AcceleratorApp was built by an incubator manager for accelerator, incubator and innovation managers.

Also, AcceleratorApp's foundational values resonate deeply with the core principles of accelerators and incubators. Our dedication to empowering startups, commitment to fostering innovation, promoting a growth mindset, relentless pursuit of excellence, embracing the entrepreneurial journey, and resourcefulness reflect the very essence of the accelerator and incubator spirit.

 

2. Babele - Versatile ATS for Innovation.

Babele offers a versatile platform that simplifies application tracking and management for accelerators and incubators. It enhances team collaboration and efficiency through distinctive features like collaborative tools and customizable workflows. Additionally, this platform streamlines the development of programs for startups, mentors, partners, and other stakeholders, addressing the diverse needs within an innovation ecosystem. However, some of the features may require training to be utilized fully.

 

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Top Features of Babele:

  • Easily manage and track applications from startups in a centralized system.
  • Make informed decisions to select the most promising startups for your programs.
  • Customize application forms and workflows to meet specific program requirements.

 

3. YouNoodle - Tool to collect startup applications.

YouNoodle provides a platform that streamlines application tracking and management for accelerators and incubators. It supports team collaboration through features like customizable evaluation tools. Additionally, the platform helps manage programs involving startups, judges, and partners, addressing various needs within the innovation ecosystem.

 

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Top Features of YouNoodle:

  • User-friendly interface for easy navigation and usage
  • Access data insights for monitoring and reporting on application metrics.
  • Connect with a network of startups and experts to support your innovation programs.

 

4. F6S - Free platform to collect applications.

F6S is a free platform that simplifies the collection and management of applications for accelerators and incubators. It connects your program with a vast global network of startups, providing a cost-effective application management solution. However, being a free platform, F6S may have limitations, such as fewer advanced features than paid ATS options, limited customization capabilities, and less personalized customer support. Additionally, it does not offer the same level of integration with other tools and has a user interface that is less intuitive for some users.

 

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Top Features of F6S:

  • Collect applications for free using a centralized platform.
  • Access a global community of startups and founders.
  • Manage and track applicant data throughout the selection process.

 


 

With AcceleratorApp, You Are in Experienced Hands!

In conclusion, adopting niche ATS for innovation is a game changer for accelerators and incubators. It helps streamline your application submission and selection process, ensuring applicants and evaluators have the best experience possible.

The ideal ATS navigates application challenges easily, which is what we have built AcceleratorApp to be over the past five years.

Do you want to see AcceleratorApp in action? Schedule a personalized demo with our experts. Hope to see you in AcceleratorApp soon!

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