THE SOURCES OF ACCELERATOR HETEROGENEITY: THREE ESSAYS ON ACCELERATOR PARTICIPANTS AND GEOGRAPHY

This dissertation examines the dynamic interplay among accelerators, their participants, and places, with a particular focus on their heterogeneous nature, cohort-based program design, and the geography of program participants. By integrating a systematic literature review with empirical analyses, this dissertation provides a comprehensive understanding of accelerator dynamics and their implications for regional economic development and startup growth. Chapter Two reviews the accelerator literature in response to the increasing recognition of heterogeneity across accelerators. By introducing a new analytic framework that maps prior research onto a conceptual space defined by focal independent and dependent variables, this chapter systematically identifies critical research gaps remaining in understanding the roles of accelerator managers and peers, the influence of non-learning support mechanisms, and the broader relationship between accelerators and their environments. Chapter Three explores the role of peer networks in accelerator cohorts. Leveraging a hand-collected dataset on 329 startups across 30 Techstars accelerator cohorts, this chapter examines how the networks of cohort peers—shaped by their prior work experiences and geographic diversity—affect startups’ access to funding. The findings indicate that peer networks significantly enhance startups’ fundraising success in the immediate post-accelerator period, underscoring the importance of cohort composition. Chapter Four investigates the locational trajectories of startups in accelerators, examining how startups relocate for acceleration and where they move post-program. Focusing on the 291 U.S. startups in Techstars accelerators during 2007-2013, this chapter explores the factors influencing startups’ mobility before and after accelerator participation. The findings reveal that over 40% of startups relocate to join Techstars. Startups that make connections with investors local to the accelerator region are likely to remain in the region, whereas those that fail to raise funding tend to relocate to established entrepreneurial hubs. These results emphasize the importance of local investors in retaining high-potential startups in accelerators and fostering regional economic development.This dissertation advances accelerator research by addressing key gaps related to program heterogeneity, peer effects, and startup mobility. The findings contribute to a more nuanced understanding of accelerator dynamics and their role in shaping entrepreneurial ecosystems, offering practical insights for policymakers, accelerator managers, and entrepreneurs.