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Accelerators seem to be the rage across the country and even the globe. As one means of capitalizing a business, accelerators have now launched in the fashiontech space and more broadly, in the fashion world - where young startups can gather together to develop their ideas and world with like-minded entrepreneurs in their launch. Whether "physical" or  "virtual," accelerators seem to be emerging everywhere.What is an accelerator? Briefly, an accelerator provides an entrepreneurial team an environment and program where their business ideas, concepts or technologies can develop in a short period (typically three months) into what may be a viable business opportunity. The companies are usually focused in the tech sectors: around apps, software, and internet technology, where an idea can become a disruptive business. The companies are typically very capital efficient - where a small amount of capital goes a long way.Accelerators are extraordinarily selective in inviting companies into their programs. They receive hundreds of applications for a few spots: perhaps up to 20 in their program. So before deciding to apply for an accelerator, there are a few things they offer. Learn more about David's finance tips in the latest issue of Raine Magazine: Hollywood and Glamour!Adapted by Liz Belilovskaya