From the bottom of the FAQ page:

>The Accelerator model gives you the opportunity to pitch investors, venture capitalists, influential industry leaders, and R/GA executives and clients at the end of the program during Demo Day. As a benefit of participating in the program, each company will receive $20,000 as well as work space, connections, and deep mentorship in exchange for 6% equity. In addition, companies accepted to the program have the option to accept a $100,000 convertible debt note. This provides even more resources for you to get your ideas off the ground.