DreamIt Ventures joins Y Combinator and TechStars on list of top 15 accelerators

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MIT professor Yael V. Hochberg revealed the most effective startup accelerators in the country Tuesday at SXSW in Austin. DreamIt Health showed up in slot No. 15 and was the only health-focused accelerator on the list.

Hochberg is a professor of finance at the Sloan School of Management at the Massachusetts Institute of Technology. She and professor Susan Cohen of the University of Richmond and the Batten Institute at the University of Virginia’s Darden School of Business, used original research and data from CrunchBase to rank the 15 accelerators. This list is from the TechCrunch article about the ranking:

  1. Y Combinator (Gold)
  2. TechStars (Gold)
  3. AngelPad (Gold)
  4. Launchpad LA (Silver)
  5. MuckerLab (Silver)
  6. AlphaLab (Silver)
  7. Capital Innovators (Silver)
  8. Tech Wildcatters (Silver)
  9. Surge Accelerator (Silver)
  10. The Brandery (Silver)
  11. Betaspring (Bronze)
  12. BoomStartup (Bronze)
  13. Entrepreneurs Roundtable Accelerator (Bronze)
  14. JumpStart Foundry (Bronze)
  15. DreamIt Ventures (Bronze)

DreamIt does not only work with health companies. The organization describes its mission this way:

We are interested in any idea that can be developed into a product in three months. While we anticipate that most of these ideas will be web, software and/or IT, we hope also to receive applications in physical sciences, medical devices and anything else where a product can be developed in three months.

DreamIt Health program participants receive up to $50,000 in seed funding per company — $10,000 plus $10,000 for each founding team member (up to four) who will be onsite for the program.

Jumpstart Foundry in Nashville does not focus exclusively on health either, but does have several health companies in its portfolio, including dVisit, Utilize Health, Invision Heart and Next Gx Dx.

TechStars invested in Pill Pack in February of this year. Capital Innovators invested in MedSocket, which provides a clinical decision support system with a patented 1-Click Decision Support (1-CDS) system and a patented medical search engine (1-Search).

Hochberg plans to release more detailed data about the rankings on seedranking.com and on her website this week. This annual list is aimed to start a broader conversation about what makes a great accelerator and inform entrepreneurs who are choosing between programs to apply to.

As soon as the list was released, the bickering started on Twitter, as you can see from the tweet at the start of this article. Hochberg asks accelerators and startups to provide investment data under a non-disclosure agreement. Not all accelerators are willing to do this, so they are not included in the ranking.

The gold, silver and bronze categories reflect how each organization performed in a series of categories. To be considered for the list, accelerators had to have graduated at least one cohort by 2013, be based in the U.S. and have at least 10 graduates in their class. Ranking criteria included:

  • Valuations their portfolio companies achieved in the years after graduation
  • Number of exits an accelerator has had
  • Ability of companies to receive additional financing after they left an accelerator
  • Percentage of an accelerator’s portfolio that was still in operation
  • Opinion venture investors have of the accelerator program
  • Opinion that graduating entrepreneurs had of their experience
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Veronica Combs

By Veronica Combs

I am the editor in chief at MedCityNews.com. I started writing and editing in the print world and joined a dotcom right before the 2000 crash. I was at TechRepublic/CNET/BNET for 7 years. Health was more interesting to me than the latest version of Windows, so I left for a startup tracking prescription drug news. A year later, MedTrackAlert was acquired by HealthCentral, so I shifted to audience research. The fun of daily news and interviewing smart people brought me to MedCity News in February 2012.
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