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Peter Ester brilliantly captures the varied but vital role that accelerators play in minting new entrepreneurs essential for economic development and new job creation in America. Based upon recommendations from various people, myself included, Peter set out on a mission to thoroughly study two dozen accelerators in Silicon Valley, the mecca of innovation. He chose the interview method with carefully defined questions in a quest to contrast his discoveries in Silicon Valley with Europe. In an easy-to-read-and-grasp style of writing, Peter does an excellent job of communicating his findings. His conclusions are descriptive and prescriptive. The target readers – whether established entrepreneurs or aspiring ones and policymakers or concerned citizens imagining new ways of economic development – are in for a treat here. Peter highlights the notion of ‘culture’ rather prominently in his analysis of critical success factors in Silicon Valley. He goes on to suggest that culture – which includes a winning mindset and the ability to take risks, try, and fail without a stigma being attached in European society– is an essential ingredient for success. What is common to all effective accelerators, Peter notes, is the existence of an ecosystem of successful role models and mentors who are eager to offer advice and guidance to new entrepreneurs, something that is lacking in Europe. The prevalence of investors – both angels and venture capitalists – who are willing to take risks on unproven entrepreneurs is another key ingredient in Silicon Valley that is also missing in European society

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