A seminal study by Valentina A. Assenova and Raphael Amit from The Wharton School at the University of Pennsylvania unveils significant findings on the positive impact of startup accelerator programmes. Published in the Strategic Management Journal, the research delves into an extensive dataset encompassing more than 8,500 startups from 176 nations. It provides pivotal insights into the influence of accelerator programme construction on startups’ triumphs, marking a critical exploration into these entrepreneurial nurturers.

Startup accelerators are increasingly central in cultivating entrepreneurial ecosystems worldwide. They supply vital resources such as seed funding, mentorship, and structured educational content. The study’s findings indicate that startups engaging with accelerator programmes are more likely to secure venture capital, enhance their revenue streams, and grow their teams than those not participating in these programmes. The research highlights that, on average, involvement in an accelerator leads to an uptick in revenue and the ability to raise capital, as well as an improved capacity to attract leading talent by offering competitive salaries.

Valentina A. Assenova, the study’s principal investigator, emphasised the crucial role of tailored programme design in realising the full potential of accelerator benefits. “Our findings underscore the importance of programme design in maximising the benefits of accelerator participation,” Assenova remarked. She suggested that by customising their services to meet the specific requirements of startups—be it industry-specific needs, stages of development, or the experience levels of founders—accelerators can significantly enhance the success rates of these enterprises.

This research illuminates the substantial advantages for entrepreneurs who engage with accelerators and serves as a valuable resource for policymakers and investors. It advocates for endorsing programmes that furnish customised, high-impact resources, especially in emerging markets where entrepreneurial frameworks are less established and still evolving.

The study utilised Global Accelerator Learning Initiative data, examining applications from 23,364 aspiring participants over six years (2013–2019). Employing stringent methodologies, including comparative analyses of startups that have gone through acceleration versus those that have not, the researchers identified the key elements contributing to the success following programme completion. This comprehensive approach ensures robust validation of the positive outcomes associated with accelerator involvement, confirming these programmes’ critical role in the global startup ecosystem.

More information: Valentina A. Assenova et al, Poised for growth: Exploring the relationship between accelerator program design and startup performance, Strategic Management Journal. DOI: 10.1002/smj.3581

Journal information: Strategic Management Journal Provided by Strategic Management Society