According to the Deloitte Art & Finance/ArtTactic 2019
report out of 100 startups in all areas, which climbed from the idea stage to real business, only three make it that far. Accelerators can help to improve the survival rate — these are special companies which develop startups by means of educational programs attracting mentors, professionals from all walks of life (teaching things ranging from design to financial models), who can make an expert assessment and push startups to become better.
The word 'accelerator' itself supposes that the progress startups usually make on their own in 1,5–2 years is accelerated to only 2–3 months thanks to the offered program allowing them to save time, money, surpass the competitors, and quickly see their weaknesses and possibilities to improve. What is even more important, the startups undergoing acceleration survive 8 times better: out of one hundred 25 will move on. The investor also knows the stats.
The accelerator's mission is to bridge the gap between art and technology by supporting early-stage startups. Fuelarts provides tools to support authors of Art Tech startups endured in finance, development, and force chain and further.
The accelerator was developed to provide community and purpose for talented Art+Tech entrepreneurs. Over the last 10 years, with the rise of Art+Tech startups — the one thing missing has been a sense of community. Fuelarts is aiming to make the art world a better place to create and share.
In 2022 Fuelarts has launched 2 online educational programs: Classic Art+Tech startups and Digital & NFT startups. These programs are created by global NFT, blockchain, and Art+Tech market professionals jointly with venture investors.
In 2023 - Fuelarts and Tezos accelerator program.