The State Science and Technology Institute reports that large corporations are increasingly interested in creating accelerators to nurture start-up companies:
Benefits to established companies working in startup acceleration are not limited to financial returns, notes Peter Lehmann in a master’s thesis at the Copenhagen Business School. Accelerators also benefit the startups by allowing entrepreneurs to leverage company resources, while also allowing the existing companies to explore areas of their industry where they are unfamiliar by supporting entrepreneurs. As a result, the corporate accelerator not only offers a window into new technologies and specialized knowledge, but also allows companies to extract new and previously underutilized value from their existing resources.
Techstars, the mentorship driven startup accelerator that holds intensive three-month programs for startups in Boulder, New York City, Boston, Seattle, San Antonio, Austin, Chicago, and London is perhaps the unquestioned leader in the corporate accelerator space. Using their model of surrounding the top 1 percent of applicants with the top 1 percent of mentors and investors, Powered by Techstars uses the organization’s established approach to partner with the top 1 percent of brands to found corporate accelerators that drive innovation. Examples of Powered by Techstars accelerators include:
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