Tech accelerators taking off in 'Silicon Beach'

A growing number of tech accelerators (a.k.a. boot camps for tech startups) are taking root in the Los Angeles area – already coined by some, “Silicon Beach” – according to an LA Times article today. Unlike tech incubators, which originate ideas in-house, these accelerators help entrepreneurs with established visions, typically for a six-to-10 percent stake in the company and providing roughly $20,000 to $50,000 in seed funding to cover salary and other expenses, explains writer Andrea Chang.
Some of the recent accelerators to emerge in L.A. include MuckerLab, Amplify, Launchpad LA and K5. They’re usually run by former tech executives and investors who use their connections and clout to prop up budding companies. Successful graduates of tech accelerators in Silicon Valley include Dropbox, Airbnb and Reddit.