A study of startup accelerators in Silicon Valley and some implications for Nigeria

The performance of the Nigerian economy – compared to other developed country – is poor and there is an urgent need to improve the situation to guarantee sustainable development. Previous studies have shown that accelerators are viable options, therefore this research studied the factors that affect the performance of accelerators in Silicon Valley. The methodology adopted is a quantitative approach that synthesized previous studies – while providing empirical evidence through a case analysis of accelerators in Silicon Valley. In the course of this study, a theory called the ‘Sustainable Startup Growth’ theory was developed and explored. This theory examined the hypothesis that the quality of services offered by accelerators is more important than the number of startups accelerated, and the sectoral concentration of accelerators is an important factor in its performance. Herein, secondary data were collected and analyzed using the statistical method known as the Multiple Regression Analysis. The results obtained show that the quality of service offered by accelerators was more important than the number of accelerators and their area of specialization was important in attracting venture capital.