A startup accelerator is built to foster rapid growth of its portfolio companies. It's a man-made perfect storm of mentorship, access to technology, office space and an innovative community, packed into a short time frame. Essentially, the function of an accelerator is to turn the art of starting a company into a program that can be repeated, churning out valuable companies as if on an assembly line.
While each accelerator has nuances, programs tend to share several traits: Startups apply to be part of a program lasting a few months, in which they obtain mentorship, office space and funding, usually in exchange for company stock. The accelerator program hopes to enable exciting new businesses and of course get a return on the investment.
To read the original article: The Pros and Cons of Startup Accelerators
