After interviewing 12 large Corporate Accelerators (CAs) and their teams, one key insight emerged: the “acceleration” in corporate acceleration is as much about speeding up partnering processes as it is about accelerating the development of new products or services. Many open innovation engines—such as incubators, CAs, consortia, and innovation centers—are designed not only to support innovation but also to identify and engage qualified external partners.
In fact, accelerating the partnering process is often an understated but central goal of mature corporate accelerators. Firms with long-standing CA programs have developed a distinct capability: the ability to identify high-potential partners and compress the partnering cycle—reaching formal agreements earlier without compromising quality. This capability has significant implications for the firm’s long-term innovative potential. Rather than focusing solely on a single new product, these firms leverage startup partnerships to acquire broader innovation capabilities that have sustained, organization-wide impact. When executed well, the benefits of strategic partnerships far exceed those of one-off product innovations.
I conducted in-depth research and interviews with 13 CAs embedded within incumbent firms that were each over 20 years old and had operated their CA programs for at least three years. Nearly all these CAs were part of global companies, including, among others, The Walt Disney Company (U.S.), Fujitsu (Japan), Volkswagen (Germany), Intuit/Highline Beta (U.S./Canada), Illumina (U.S.), Edison International (U.S.), Kurita Water (Japan), and Globant (Argentina). A total of 16 individuals across the 13 CAs completed a 43-question survey. In addition, I conducted 19 in-depth interviews (each lasting a minimum of one hour) with a range of stakeholders, including CA insiders, former CA team members, non-CA business unit participants from the incumbent firms, and experts in innovation and acceleration. This research was grounded in the existing academic literature on corporate accelerators and culminated in my PhD dissertation titled Success-Oriented Corporate Accelerator Model: Mechanisms and Conditions that Amplify a Firm’s Innovation Impacts.
The Need for Speed
As established firms face mounting pressure to innovate amid accelerating external change, many are realizing the critical need to speed-up internal processes. Early-stage CAs often encounter resistance from slow-moving legal, procurement, or business development functions and must find creative ways to navigate around these slower processes. To address this challenge, mature CAs typically have institutionalized faster processes — “speed lanes” or “fast tracks” — that allow partnering steps to be completed in a fraction of the time required by legacy processes. For example, in one of the global companies listed above, the legal department gradually established a specialized subgroup of attorneys who became experienced well-versed in the unique needs and pace of the CA cohort process. This team adapted legal workflows to align with the accelerator’s compressed timelines and the distinct structure of agreements with participating startups. Similarly, a global consumer products company I recently interviewed created a dedicated, standalone organization reporting to the CEO—complete with its own budget and legal team—staffed by the most experienced professionals drawn from the company’s core corporate functions.
I also observed that the dual need for speed and reliability in partnerships has led many firms to shift their focus toward later-stage startups. These companies require less mentoring, possess more robust operational capabilities, and are better equipped to collaborate with complex, established organizations. Experienced CAs reported that partnering with such startups allowed them to execute agreements more quickly and with greater confidence.
Conversely, younger CAs were hesitant to finalize agreements with early-stage startups unless they were highly confident in alignment and collaboration readiness. Business units were similarly cautious, often resisting partnerships unless the startup was immediately prepared to engage. In these situations, partnership conversations began after the startup’s demo day completed successfully. In contrast, more mature CAs—and increasingly sophisticated business units—developed the capability to begin partnership conversations well before the formal start of a cohort, enabling earlier agreement execution. For example, another global company I interviewed revised its acceleration process as its partnering capabilities matured. The firm began formalizing agreements with participating startups before the acceleration activities commenced—well ahead of the program’s demo day—reflecting a strategic shift towards establishing earlier formal partnering agreements. Importantly, this was not a one-time adjustment, but a deliberate and lasting change to the company’s established corporate accelerator process.
Not Just Speed—Quality Matters Too
Over time, the CAs studied have not only accelerated their processes but also significantly enhanced the quality of their partnerships. Organizational learning accumulated through CA operations enabled some firms to reach partnership agreements before the cohort even launched — a major evolution from traditional models where firms wait until demo day to evaluate and initiate collaboration.
This accumulated partnering knowledge is a crucial input into a firm’s Absorptive Capacity — its ability to recognize, assimilate, and apply valuable external knowledge. Several CAs demonstrated that, after years of operation, they became much faster and more accurate in identifying high-potential partners. They effectively accelerated their judgment and decision-making capabilities when it came to evaluating and engaging with startups.
Importantly, this growth in capability extended beyond the CA team itself. The business units within these firms also matured in their ability to collaborate, forming the right partnerships with both speed and quality. The CA function thus acts as a catalyst for building broader organizational sophistication.
Redefining CA Success
A successful CA is not defined solely by its ability to surface new technologies or products. Instead, it should also be measured by how effectively it activates and manages mechanisms that generate long-term value — notably, by accelerating and improving the quality of strategic partnerships. These capabilities enhance the firm’s innovation maturity and position it to capitalize on external knowledge and opportunities more effectively over time.
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