Accelerators
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Accelerators

Successful Venture Creation and Growth

Edited by Mike Wright and Israel Drori

Accelerators are a rapidly growing new form of organization that aim to stimulate entrepreneurship through intensive, limited-period educational programs, including mentoring and networking for the cohort of start-up participants selected for each program, to improve their ability to attract investment at the end of the program. Drawing on novel evidence from across the world, this is the first book to provide rigorous analysis of the nature and effectiveness of accelerators that will be invaluable for researchers, policymakers and entrepreneurs.
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Chapter 5: Selection issues

Michael Leatherbee and Juanita Gonzalez-Uribe

Abstract

This chapter by Michael Leatherbee and Juanita Gonzalez-Uribe addresses issues relating to the selection of entrepreneurs and their ventures for entry into accelerators. Commonly, accelerators select start-ups among a broader group of applicants. The assumption is that through the selection process, accelerators are able to discriminate between high- and low-potential start-ups. Thus, the expectation is that accelerators are an effective medium for capturing the upside potential of the select few start-ups that promise to deliver the highest value in the future. That upside potential may be materialized through attractive equity investments or increased socio-economic development, depending on the mission of the accelerator. Typically, the selection process relies on a set of objective criteria predetermined by the accelerator, which are applied by one or more entrepreneurship experts who act as judges or evaluators of the applicant pool. First the authors describe the different selection stages and methods typically managed by business accelerators. They then go on to explore the multiple important issues that must be taken into account when designing and managing selection processes. Comprehending these issues may help to understand the challenges and limitations of current selection methods, and to avoid potential pitfalls and unintended consequences.

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