GEC 2016: Amisha Miller

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www.kauffman.org © 2013 Ewing Marion Kauffman Foundation

Acceleration in the US and Beyond

March 2016


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


Accelerators are diverse and they are continuing to innovate

Seed Fund M&A and Expansion Complementary Services

Vertical Specialization

Corporate Accelerators Public Funders


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)


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


Most accelerators use similar KPIs

•  Valuation

•  Fundraising

•  Exits

•  Survival

•  Satisfaction

•  Ecosystem

•  Corporate metrics


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)


Research shows that top accelerators are able to accelerate

•  Valuation

•  Fundraising

•  Exits

•  Survival

•  Satisfaction

•  Ecosystem


Accelerate funding, buy-out or failure

Source: Winston-Smith, Hannian and Gasiorowski (2013)


And local areas that open accelerators increase funding for local businesses

•  Valuation

•  Fundraising

•  Exits

•  Survival

•  Satisfaction

•  Ecosystem


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)


Accelerated businesses receive funding but we don’t yet know about long term impact

•  Valuation

•  Fundraising

•  Exits

•  Survival

•  Satisfaction

•  Ecosystem


74.6% raised significant capital

2.1% had a

meaningful exit



However, there are also negative signs – some accelerators are disappearing

28% of companies were accepted to multiple accelerator programs



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


Amisha Miller

[email protected]

twitter: amishamiller

GEC 2016: Amisha Miller

Small Business & Entrepreneurship

Transcript of GEC 2016: Amisha Miller