Accelerators provide startups a Shark Tank like program where they have access to peers, mentors, as well as space an venture funding for a fixed-term (3 to 6 months). CityLab demography whiz Richard Florida takes a look at a new study by the Brookings Institution Metropolitan Policy Program which shows where these accelerators are popping up and the value of companies that completed accelerator programs.
According to their data, the most accelerators are popping up up in the San Fransisco Bay Area:
San Francisco tops the list with 34 accelerators, followed by New York and San Jose with 13, and Boston with nine. Chicago has seven, while L.A., Seattle, and Washington, D.C. have five each. All together, the Bay Area, New York, and Boston account for 40 percent of startup accelerators in the U.S. and two-thirds of accelerator-funded deals from 2005-2015.