Designing the Successful Corporate Accelerator

CHAPTER 5ACCELERATOR ARCHETYPES

The rise of the accelerator coincided with a broader trend of technology startups disrupting large but traditional industries with software, web-based solutions, mobile applications, and radical new business models. From Uber in transportation to Airbnb in hospitality, change became the constant. Big companies have jumped at the opportunity to get in on the startup action - in part to avoid being outmaneuvered by nimble new players, in part because their competitors are doing it, and in part for the sake of innovation.

Naturally, many big companies seized on the model of accelerators after seeing the value being generated by the successful independent accelerators. For corporations, however, replicating this model is not a simple road to success. An accelerator that works in Silicon Valley doesn't necessarily work within a large corporation. The reality bubbling below the marketing friendly surface of corporate accelerators today is that, while well intentioned, most of these programs are not effective in achieving the strategic goals of the company hosting them.

As we've stated repeatedly, corporate innovation is exceedingly difficult. Despite substantial investments of resources from many companies, innovation initiatives such as accelerators frequently fail. Even when they do see some success, it is difficult to sustain and accurately track ...