SF Startup Accelerators in 2026: Deal Terms, Equity and How to Apply

TL;DR

San Francisco's top accelerators now write checks from $10K to $2M and take anywhere from almost nothing to 10% of your company. Y Combinator invests $500K for a fixed 7%. a16z speedrun and South Park Commons go up to $1M. Neo, HF0 and Z Fellows are the lightest on dilution. Terms below are current as of November 2026, so confirm on each program's official page before you sign.

One thing to know before you compare: many programs now pair a fixed equity stake with an uncapped or MFN (most favored nation) SAFE. The fixed percentage is what you give up for sure. The SAFE converts at your next round's price, so the program's final ownership ends up a bit higher than the headline number.

SF Accelerators at a Glance

"Reported" means the figure comes from third-party coverage, not the program's own site.

The 12 Programs, One by One

1. Y Combinator

YC invests $500,000 in every company it accepts, in two parts. $125,000 goes in on a post-money SAFE for a fixed 7%. The other $375,000 goes in on an uncapped SAFE with an MFN clause, so it converts at the same terms as your next round. The deal is identical for every company and isn't negotiable.

Best for: almost any startup that wants the strongest Demo Day and alumni network. Apply to Y Combinator.

2. a16z speedrun

Andreessen Horowitz's accelerator puts in $500K for 10% on a SAFE when you join, then another $500K in your next round within 18 months. That makes it up to $1M in total. It runs for 12 weeks in San Francisco, twice a year, and a16z takes no board seat at this stage.

Best for: AI, gaming, and creative or entertainment tech founders who want a16z as their first investor. Apply to a16z speedrun.

3. South Park Commons Founder Fellowship

SPC invests $400K up front for 7% on a standard SAFE, plus $600K guaranteed in your next external round. Teams are funded as soon as they sign, before the program's bootcamp starts. It has hubs in San Francisco, New York and Bengaluru.

Best for: strong technical founders who haven't settled on an idea yet. Apply to South Park Commons.

4. HF0 Residency

HF0 runs a 12-week live-in residency in a San Francisco mansion, with housing and meals handled so founders only build. Third-party sources report up to $1M on an uncapped SAFE for 5%. HF0 doesn't publish its terms on its own site, so ask for them in writing.

Best for: repeat technical founders, especially in AI. Apply to HF0.

5. Neo Residency

Neo, founded by Ali Partovi, invests $750,000 through an uncapped SAFE, so its stake depends on your next round's valuation. One guide reports a range of 0.75–5%. College students can apply for a separate $40,000 grant with no strings attached.

Best for: founders who want an elite network with very low dilution. Apply to Neo.

6. PearX

Pear VC's 12-week pre-seed accelerator invests between $250K and $2M per company, depending on stage and needs. Recent coverage cites a typical ownership target of 7%, but terms are set per company. Cohorts have no more than 25 teams, and fewer than 1% of applicants get in.

Best for: pre-seed teams who want hands-on partner time and a large first check. Apply to PearX.

7. Techstars

Techstars invests $220,000: $20,000 for 5% common stock, plus a $200,000 uncapped MFN SAFE. There is no fee to join. Techstars invests only in US companies or foreign equivalents, so an India-incorporated startup has to flip first.

Best for: first-time founders who want structured mentorship. Check which Bay Area programs are running before you apply. Apply to Techstars.

8. Entrepreneur First

EF backs individuals before they have a co-founder or an idea. You apply solo and meet your co-founder in the cohort. Once you form a Delaware C-Corp, the US deal is up to $250K: $125K on a post-money SAFE for 8%, plus a $125K uncapped MFN SAFE. Every EF company now incorporates in the US and builds from San Francisco.

Best for: solo founders looking for a co-founder. Apply to Entrepreneur First.

9. Berkeley SkyDeck

UC Berkeley's six-month accelerator invests $210,000 per cohort company, usually on a post-money SAFE. Sources differ on whether the stake is 7.25% or 7.5%, and one guide lists a program fee of $7,500. About 20 startups are selected every six months.

Best for: teams planning to raise a seed round within six months. Apply to Berkeley SkyDeck.

10. Alchemist Accelerator

Alchemist only takes companies that sell to businesses. Most companies grant about 5% equity. The cash investment is optional and small, and average net proceeds are around $30,000 after the program's tuition is offset. The program runs for six months.

Best for: enterprise and B2B founders who need buyer access more than cash. Apply to Alchemist.

11. Sequoia Arc

Sequoia runs an open call twice a year for pre-seed and seed founders. It doesn't publish a standard investment amount or equity percentage, so terms are set company by company.

Best for: founders who want Sequoia on their cap table early. Apply to Sequoia Arc.

12. Z Fellows

Z Fellows is a one-week program for 10 technical builders at a time. It advertises $10,000, which TechCrunch has described as an optional investment at a $1 billion valuation cap, so the dilution is close to zero. Z Fellows' own site doesn't spell out the instrument.

Best for: young technical builders who want a fast entry into Silicon Valley. Apply to Z Fellows.

How to Choose the Right SF Accelerator

Start with what you need most: low dilution, a big check, a co-founder, or a brand on your cap table.

• Lowest dilution: Neo, HF0 and Z Fellows. Uncapped SAFEs and a $1B cap leave the most of your company with you.
• Biggest checks: PearX (up to $2M), a16z speedrun, South Park Commons and HF0 (up to $1M each). That can be enough runway to skip a separate pre-seed round.
• Strongest brand and Demo Day: Y Combinator. Its terms are standard and public, so there is nothing to negotiate.
• No idea or no co-founder yet: South Park Commons and Entrepreneur First both back people before they have a company.
• B2B and enterprise: Alchemist focuses only on companies that sell to businesses.

If you're building from outside the US, check incorporation early. Techstars invests only in US companies, so an Indian company needs to flip first. Entrepreneur First has every company incorporate in the US.

After Demo Day, Get Found

Getting into an accelerator gets you funded. Getting found on Google and in AI answers is what brings in the customers and investors after Demo Day. SeoSorted researches your keywords with live search data, writes articles that rank, and publishes them straight to WordPress, Webflow, Shopify and more. Start free, no card required.

Sources

• Y Combinator standard deal
• a16z speedrun
• South Park Commons F26 Founder Fellowship
• TechCrunch: Ali Partovi's Neo looks to upend the accelerator model
• Techstars investment terms
• Berkeley SkyDeck Fund
• TechCrunch: Z Fellows offers $10K