I’ve seen enough corporate accelerators to know most are a waste of time and money. Flashy launch events, some mentoring sessions… and then crickets. No real impact on the bottom line, and the internal innovation teams get more cynical than ever. But it doesn’t have to be this way.
Common Mistakes (and How to Avoid Them)
- The Innovation Theater: It’s more about PR than actual business results. If the accelerator’s success metrics are fuzzy (like “number of ideas generated”) it’s doomed from the start.
- “Us vs. Them” Mentality: Startups get brought in, but treated like outsiders the whole time. Legal roadblocks, slow procurement processes… why would top talent deal with that?
- Mismatch of Expectations: The company wants a quick-fix moonshot, the startups just want a big client. If this isn’t addressed upfront through careful selection and goal-setting, everyone walks away frustrated.
- The Fake “Intrapreneur” Track: Running employees through a watered-down accelerator alongside external startups is insulting, unless there’s serious backing to actually spin out their ideas.
Towards a Model That Works
Here’s a reframe that’s helped some of my clients:
- Focus on Specific Pain Points: Not “innovation” in the abstract, but real problems business units are facing. This makes pilots more likely to succeed, and builds buy-in.
- The “Reverse Demo Day”: Get business unit leaders to pitch their problem to startups, not the other way around. Shifts the power dynamic and ensures serious interest.
- “Graduated” Startups as Vendors: Create a clear pathway for successful pilots to turn into longer-term partnerships or even acquisitions. This gives startups a reason to play ball with your bureaucracy.
- Reward Internal Champions: Tie performance reviews to successful pilot implementations, not just vague “innovation” goals. Skin in the game is crucial for changing the culture.
Warning: This Will Be Political
Fixing your accelerator isn’t just about better processes. You’ll be challenging the status quo inside your company. Be ready for:
- Middle Managers Who Feel Threatened: They may try to sabotage promising pilots or hoard their best people. Get senior leadership backing early.
- Bureaucracy for Bureaucracy’s Sake: Be ruthless about what rules are truly non-negotiable, and which exist just to slow things down.
- The Temptation to Give Up: This is a long-term change effort. Some failures are inevitable. Focus on small wins to build momentum.
What are some “horror stories” or, even better, success stories of corporate accelerators? Let’s share notes in the comments!
