I had the opportunity to be a mentor to one of the companies that went through the latest TSF Class and I was impressed with the process and the team they have there. The company was PopUp and one of the co-founders Fitch wrote an awesome blog post about the process (I swear I wasn't that mean to them).
http://foverc.tumblr.com/post/37687567170/accelerators-are-like-roll-cages
TSF (Triangle Startup Factory) is an accelerator located in Durham, NC (part of the research triangle area). They invest up to 200k in each of the startups (a mix of equity and convertible note). There is a Call in Session tomorrow for more information (http://trianglestartupfactory.com/event/call-in-session/) and you can apply here (http://trianglestartupfactory.com/start-the-application/)