For the vast majority of cases, doing a startup funded by TechStars gives someone way more credibility than an MBA.
Not saying it should matter (I've seen how the sausage is made), but it does matter to the billions of people who consider it to be the best of the best, almost none of whom have ever heard of Tech Stars.
There is no way on earth that placement in a somewhat obscure accelerator/mentorship program offers more "credibility" than an MBA from what is arguably the most prestigious post secondary institution on the planet. And that assertion requires no support or justification.
You don't need a Harvard MBA to be successful, but having one will open more doors than you can imagine.