Incubators and accelerators have been proliferating in California, but little has been done to track their activities and analyze their performance. The California Business Incubation Alliance recently released a study of the performance of incubators and accelerators in California, the contribution they make to the state’s economy, and whether they deliver value to the entrepreneurs that use them. We spoke to Matt Gardner, CEO of the California Technology Council and lead author of the report, about its findings, why gathering data about incubators and accelerators is so challenging, and why the findings include a word of caution to entrepreneurs. As a matter of full disclosure, Matt is a friend, client, and partner and I served as an editor on this report.