Accelerator companies continue to attract private and public capital—but data released last week shows they are also growing well on their own steam. Resident companies generated $11.6 million in revenue in 2012—more than double the previous year. Private capital funds increased 48% from 2011 to 2012, and public grants increased 18% from the same time period. Over the past five years, the number of resident companies has steadily increased, and in 2012 reached an all-time high of 29 resident companies. Employment within the Accelerator continues to grow with a 9% increase from 2011.
“Job creation isn’t a myth here at the Accelerator,” says director Angela Jackson. “Last year our companies employed 212 FTE, 42% higher than the national incubator average.”
The Accelerator offers close collaboration with the University and strong support for technology. According to the National Business Incubation Association, there are 1400 incubators in the United States with 33% operated by schools and universities.