Just yesterday, we took a lot at the differences between incubators and accelerators. In the article, we noted that incubators were declining in popularity, while the accelerator space was growing rapidly.
Now, an industry veteran has put some numbers to this trend. David Cohen, the founder of TechStars - one of America's most prominent and longstanding accelerators - told Forbes that about one accelerator launches per day now. Stop and think about that for a moment.
While it's always a good idea to promote entrepreneurship and cultivate successful startups, there is nothing sustainable about dozens of new accelerators launching per month. What we need are a select few, highly competitve, top-quality accelerators, with sterling mentors and experienced funders. Over-staturation of accelerators will inevitably lead to many possessing poor mentorship, rookie investors, and overall poor quality acceleration - dooming hundreds of startups to fail.
While David's quote is in a US context, we've all seen the numerous accelerators popping up here in Canada as well. And given our history of trying to replicate America's tech startup successes, no doubt we'll be seeing the same extremity soon.