PithBook - Quantifying the Success of YC and the Largest Accelerators

This report provides a comprehensive overview of the performance of top accelerators in the US, including key takeaways, quantitative data, and insights from founder surveys. The report finds that Y Combinator is the most successful accelerator program in terms of cumulative exit value, followed by Techstars and 500 Startups. The success of an accelerator program is strongly correlated with the quality of its mentorship and network, as well as the rigor of its curriculum and focus on customer discovery and hypothesis testing. Founders who participate in accelerator programs benefit from introductions to quality advisors, mentors, and corporations, as well as warm connections to the right investors actively making deals. Other valuable experiences include the discipline of customer discovery and hypothesis testing, advice and mental models for building an MVP and working toward product-market fit, education on how to fundraise, and introductions to potential customers. Follow-on investments made by VCs and accelerators vary widely across different programs, with some programs having a much higher success rate than others. Overall, participating in a top accelerator program can significantly increase a startup's chances of success, but it is important to choose the right program based on the startup's specific needs and goals. The report also provides insights into what founders wish accelerator programs offered more of, such as legal advice, access to funding, and better personal review of pitching.