It was followed by TechStars (in 2006), Seedcamp (in 2007), AngelPad (in 2010), Startupbootcamp (in 2010), Tech Wildcatters (in 2011), several accelerators of SOSV, and Boomtown Boulder (2014). The first seed accelerator was Y Combinator, started in Cambridge, Massachusetts, in 2005, and then later moved to Silicon Valley by Paul Graham. Īccelerators provide enough funding to get a company to demo day, from which point the startup is on its own. The process that startups go through in the accelerator can be separated into five distinct phases: awareness, application, program, demo day, and post demo day. Seed accelerators do not necessarily need to include physical space, but many do. The business model is based on generating venture-style returns, not rent, or fees for services. The primary value to the entrepreneur is derived from the mentoring, connections, and the recognition of being chosen to be a part of the accelerator. If the accelerator doesn't offer a common workspace, the teams will meet periodically. The peer support and feedback that the classes provide is an important advantage. Startups are accepted and supported in cohort batches or classes (the accelerator isn't an on-demand resource ).Virtually all accelerators end their programs with a "demo day", where the startups present to investors. During this time, they receive intensive mentoring and training, and they are expected to iterate rapidly. The startups must "graduate" by a given deadline, typically after 3 months.Accelerators generally consider that one person is insufficient to handle all the work associated with a startup. The focus is on small teams, not on individual founders.Typically, the investment is between US$20,000 to US$50,000 in the US, or £10,000 to £50,000 in Europe. Seed investment in startups is usually made, in exchange for equity.Y Combinator and TechStars have application acceptance rates between 1% and 3%. The application process is open to anyone but highly competitive.The main differences between business incubators, startup studios, and accelerators are:
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