Across the world, business accelerators have been popping. In the U.S. alone, the number of accelerators grew from 16 programs to 27 in 2009, to 49 in 2010, before eventually reaching 170 programs in 2014. And across the globe, there are 387 accelerators and counting, which have invested nearly $192 million in startups and up-and-coming businesses.
Startups typically are founded to solve an issue or challenge in a market or industry.