How the Yield Index is built.
A transparent, independently reproducible rating system for U.S. and global startup accelerators, incubators, and founder programs. Six public data sources. Five weighted subscores. Quarterly refresh. Programs cannot pay to improve their grade — methodology and source data are published in full.
Guiding Principles.
The Cohort Yield Index exists to answer a single question: does joining this accelerator multiply the founder's outcome — or dilute it?
- Public records only. Every input sourced from PitchBook outcomes data, SEC Form D follow-on filings, PACER federal court filings, FTC consumer complaints, public founder testimonials, or Startup X's proprietary founder survey.
- Programs cannot pay. No rated program has paid, can pay, or has been offered the opportunity to pay for inclusion, exclusion, or modification of their grade.
- Quarterly refresh. Grades update every 90 days; material changes timestamped.
- Subscore transparency. Every grade decomposes into five public subscores.
- Right of correction. Programs may submit documented corrections via published Appeals process.
The Six Data Sources.
The Index is constructed from six independent public-record sources. No single source can move a grade by more than 35%.
PitchBook / Crunchbase Outcomes
Cohort-level outcomes data — follow-on funding rounds, exits, valuations, and survival rates by program-cohort year.
SEC Form D Filings
SEC private-offering filings indexed by company. Used to verify follow-on round timing, size, and investor concentration post-cohort.
PACER Federal Court Filings
Accelerator-related class actions, predatory-terms lawsuits, equity-warrant disputes, and fraud cases filed against rated programs.
FTC Consumer Complaints
Federal Trade Commission complaints filed against accelerator programs by founders, particularly relevant for paid-program models.
Public Founder Testimonials
Founder Twitter, blog posts, podcast interviews, and other public statements about cohort experiences. Cross-validated against outcomes data.
Startup X Founder Survey
Anonymized opt-in survey of founders who have completed rated programs. Methodology and response rates published in Annual Report.
The Five Subscores.
Equity Terms Fairness
The percentage equity taken vs. the capital and value delivered. Includes equity warrants, SAFE structure, side letters, and any non-equity fees or membership charges. Benchmarked against the YC standard (7% for $500K) and the zero-equity standard (university programs, MassChallenge).
Founder Outcomes
Documented founder outcomes after program completion: follow-on round success rate, time-to-next-round, eventual exit outcomes, company survival rate at 5 years. Sourced from PitchBook and SEC Form D filings.
Mentor Quality
The caliber and depth of mentor engagement during program. Includes partner-tenure, board-grade mentors, time-per-founder, and mentor continuity. Cross-validated against public founder testimonials.
Demo Day Yield
Actual investor pickup at demo day vs. program marketing. Includes investor attendance quality, meeting-to-term-sheet conversion, and time-to-next-round for cohort participants.
Post-Program Network
Strength and continuity of the alumni network after program completion. Includes formal alumni programs, ongoing partner access, and cross-cohort founder-to-founder connection durability.
Weighting & Scoring.
Why these weights? Founder Outcomes is heaviest because it's the singular measure of program value delivered. Equity Terms and Demo Day Yield tie for second because they directly determine the founder's net economic position after participating. Mentor Quality and Post-Program Network complete the composite.