According to the 2019 Global Entrepreneur Monitor (GEM) report, more than 100 million startups are launched every year all over the world, which is about 3 startups per second.
These entrepreneurs come from all walks of life and transcend age, gender, and geography. The stereotype of the entrepreneur is no longer two guys in a garage in Silicon Valley.
We are living through a global entrepreneurial renaissance and this represents an incredible opportunity.
To meet this surge in demand, there has been a corresponding explosion in the number of accelerators, incubators, and university programs started in just the last ten years. Ten years ago, there were less than 50 startup accelerators. Today, there are over 5,000.
But there is a dark cloud in all of this.
Even though we are creating more startups than ever before, the overall startup success rate has decreased — not increased.
This is because while the seed or early stage of a startup is the easiest to get going, it’s also the most uncertain and riskiest.
The challenge for accelerators today isn't just attracting investment-ready startups, but rather starting earlier, and shaping founders into world-class startups.
Doing this requires a rethinking of the traditional accelerator model.