【主题】Nature or Nurture? The Importance of Screening in Matching Startups with Accelerators
【时间】12月26日 星期四 15:30-17:00
【摘要】Like schools for startups, business accelerators became an essential player in the entrepreneurship world in the past decade. We study the relative importance of screening in the accelerator value creation through the market participant's perspective. In a competitive market, any value creation for startups through screening should reflect in the increase of venture financing in the short-term after accelerator graduation. We develop a three-stage approach to identify the upper bound of screening's value creation by examining the importance of the accelerator's ability to assist startup fundraising in the short-run. With a dataset covering the universe of U.S. business accelerators from 2008 to 2011, we find the screening contributes to less than 1/6 of the total value added by accelerators on average.