Startup accelerators continue to grow in popularity. There are now more than 200 around the world attracting twice as many applicants as they did just two years ago. But there’s a dirty little secret: A lot of accelerators are just spinning their wheels.
Last year, Aziz Gilani, a director at Houston venture capital firm DFJ Mercury, ran a study of 29 North American accelerators for theKauffman Fellows Program. He found that 45% of them produced not a single graduate who went on to raise venture funding.
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