HEC Research Papers Series,
HEC Paris

Abstract: This study assesses the impact of corporate accelerators on startup growth and technology adoption. Corporate accelerator programs offer technological resources that can spur startup growth, but they can also deter startups from exploring other suppliers' technologies. With novel data from one technology firm's accelerator program, we compare accepted and rejected startups using a machine-learning-based matching algorithm trained on the selection criteria. Participating in the corporate accelerator increases startups’ future funding by more than 50%. Moreover, participation increases startups’ use of the hosting firm's technologies by about 9%. The program asymmetrically benefits startups already using the host firm’s technologies and startups located in countries with more entrepreneurial resources, while reducing participation in other suppliers’ technological ecosystems. These findings suggest that corporate accelerator programs spur the growth of those with sufficient technological capabilities and local financing, but at the potential cost of reduced flexibility.

Keywords: Accelerator; Venture Capital; Startups; Strategy; Venture Scaling; Technological Change; Tech Strategy

JEL-codes: G24

52 pages, June 13, 2025

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