Designing the Successful Corporate Accelerator

CHAPTER 4STARTUP ACCELERATORS

 

Welcome to the era of startup accelerators. The modern accelerator concept only began relatively recently, with the launch of Y Combinator in 2005 in Cambridge, Massachusetts, and has grown exponentially since then. The “corporate accelerator” came into existence shortly thereafter in 2010,¹ and a decade later there are hundreds of corporate accelerators, with more launching each year. A few corporate accelerators have seen noteworthy successes in some areas, but many of the programs are not producing meaningful returns for either the corporate or the startups involved.

It is very possible to achieve material results from corporate accelerators, and the examples and suggestions in this book should set innovation leaders on the right track. But in order to understand the corporate accelerator, you must first understand the startup accelerator more broadly.

WHAT IS A STARTUP ACCELERATOR?

A startup accelerator is a fixed-term, cohort-based program to help startups accelerate their development and growth. It includes some combination of mentorship, education, office space, networking, introductions, and more to support the growth of the business. An accelerator program typically culminates in a public pitch event or Demo Day.²

The acceleration industry is evolving rapidly, and the term accelerator is used to describe an increasingly diverse set ...