From the context of a technical founder:<p>If you have zero experience running a business from an operational standpoint, i.e., incorporation, accounting, taxes, contracts, then an accelerator can offer valuable help so that you can have "one less thing" to worry about.<p>Apart from that, the most important thing is the terms of the deal they'll make with you. For example and as a general rule of thumb, more than 10% of your company for less than $100k is something you should reconsider, especially if you are in the US.<p>The reputation of the accelerator is also important. YC, 500, Techstars, AngelPad are all renowned brands. Study their portfolio companies to understand what their investment thesis and success rate are.<p>In general, my opinion is that getting into an accelerator can be very valuable for first time founders and if the deal they offer is good, and their track record compelling, I would do it.