Startup accelerator programs have experienced remarkable growth, popularity, and influence within the venture ecosystem over the past two decades.

They've helped numerous startups find success by supplying them with capital, mentorship, and access to coveted investor networks.

Renowned accelerators like Y Combinator, Techstars, 500 Global, MassChallenge, and SOSV have made substantial impacts on startup culture and continue to expand their reach globally, as evidenced by a significant increase in participation from non-US-based businesses.

YC leads the pack in successful exits, having backed the likes of Airbnb, Doordash, Coinbase, Dropbox, and GitLab. Other accelerators have also seen notable exits, highlighting the impact and importance of program quality, founder selection, and geographic presence.

Capital raised is another key metric, and, on average, 50% to 70% of cohort companies raise rounds within three years of completing an accelerator program. While YC leads its peers in cumulative capital raised—followed by Techstars—the figures for 500 Global, SOSV, and MassChallenge are likely 10%-30% higher than estimated.

Our data found that unicorn creation rates of startups from 2010 to 2015 cohorts ranged from 0.3% (SOSV) to 5.4% (YC), and we also found that follow-on investments from accelerators tend to be more successful, particularly at Techstars and YC.

While quantitative data is great, we believe it only tells one part of the story. We surveyed 43 founders who attended these accelerators to better understand their biggest takeaways from each respective program.

Founders highlighted many aspects of the accelerator programs, including access to quality advisers, mentors, and corporations, the strength of the program's network, and the benefits of an environment that encourages deep thinking and iteration. They also appreciated education on fundraising and warm connections to investors and potential customers.

On the other hand, founders expressed the need for more education on running a company.

Now more than ever, accelerators will continue to play a pivotal role for early-stage startups looking to find success during the current economic storm.

By Vincent Harrison from Pitchbook