[yo-mf]

I think you misunderstand the state of VC nowadays. They are not about funding "innovation", they are about scaling already proven concepts. For example, look at all the dollars that have gotten funneled into ecommerce sites. That is not exactly groundbreaking.

I also think you underestimate what it takes to get a startup from a small niche business to one that can dominate a market. If you want a small business, then an accelerator (or seed funding) is not appropriate. If you want a high growth business however that could become a category killer, then an accelerator can help. Plus, there are plenty of site and apps that can show a little traction and a little revenue. But to turn that into a sustainable business is an entirely other matter.

That being said, there are some VC's and accelerators that are taking risks. It is just that the expectations have been raised across the board given how easy it is to get started and to launch an app or a website.