gec 2016: amisha miller
TRANSCRIPT
© 2013 Ewing Marion Kauffman Foundation
www.kauffman.org © 2013 Ewing Marion Kauffman Foundation
Acceleration in the US and Beyond
March 2016
© 2013 Ewing Marion Kauffman Foundation
The number of accelerators is growing rapidly
0
100
200
300
400
500
600
700
800
900
1000
2011 2012 2013 Q3 2014
Europe
United States
Source: F6S 2015
© 2013 Ewing Marion Kauffman Foundation
Accelerators are diverse and they are continuing to innovate
Seed Fund M&A and Expansion Complementary Services
Vertical Specialization
Corporate Accelerators Public Funders
© 2013 Ewing Marion Kauffman Foundation
US researchers are working with a tight definition of accelerators to report results
Fixed term
Cohort-based
Include mentorship and education
Culminates in public pitch event / demo day
1
2
3
4
Source: Cohen and Hochberg (2014)
© 2013 Ewing Marion Kauffman Foundation
This definition is much narrower than the one practitioners are using
0
100
200
300
400
500
600
700
800
900
1000
2011 2012 2013 Q3 2014
Europe
United States
Source: F6S 2015 Source: Susan Cohen, Seed Accelerator Rankings Project, 2015
Remember this slide? Using the tighter definition, only 300 of the almost 900 accelerators in the US are defined as accelerators
© 2013 Ewing Marion Kauffman Foundation
Most accelerators use similar KPIs
• Valuation
• Fundraising
• Exits
• Survival
• Satisfaction
• Ecosystem
• Corporate metrics
© 2013 Ewing Marion Kauffman Foundation
Accelerators across the US satisfy their customers
• Valuation
• Fundraising
• Exits
• Survival
• Satisfaction
• Ecosystem • Corporate metrics
92.2% would repeat the same program
Source: Seed Accelerator Rankings Project (2015)
© 2013 Ewing Marion Kauffman Foundation
Research shows that top accelerators are able to accelerate
• Valuation
• Fundraising
• Exits
• Survival
• Satisfaction
• Ecosystem
• Corporate metrics
Accelerate funding, buy-out or failure
Source: Winston-Smith, Hannian and Gasiorowski (2013)
© 2013 Ewing Marion Kauffman Foundation
And local areas that open accelerators increase funding for local businesses
• Valuation
• Fundraising
• Exits
• Survival
• Satisfaction
• Ecosystem
• Corporate metrics
2 x VC funding events
13 x funding over following 3 years ($$)
(And 2/3 of this goes to businesses outside
the accelerator)
Source: Hochberg and Fehder (2015)
© 2013 Ewing Marion Kauffman Foundation
Accelerated businesses receive funding but we don’t yet know about long term impact
• Valuation
• Fundraising
• Exits
• Survival
• Satisfaction
• Ecosystem
• Corporate metrics
74.6% raised significant capital
2.1% had a
meaningful exit
Source: Seed Accelerator Rankings Project (2015)
© 2013 Ewing Marion Kauffman Foundation
However, there are also negative signs – some accelerators are disappearing
28% of companies were accepted to multiple accelerator programs
Source: Seed Accelerator Rankings Project (2015)
© 2013 Ewing Marion Kauffman Foundation
We need to understand more to improve what we do and tell our story
• Map where accelerators are
• Understand program trends
• Learn from others and share best practices • Partner with the Entrepreneurship Database
Program at Emory to understand the outcomes you achieve for participants