Corporate accelerators are a paradox; they are often created by large companies to foster innovation, yet their inherent structure can stifle the very creativity they seek to encourage. The main issue lies in the conflict between the entrepreneurial spirit and the corporate environment. Start-ups thrive on risk-taking, agility, and a culture of “fail fast, learn faster,” while corporations are structured, risk-averse, and focused on maintaining stability.
The success of an accelerator program hinges on the freedom it offers to entrepreneurs. Yet, corporate accelerators often impose restrictions that limit this freedom, such as requiring start-ups to use the corporation’s technology or services. This can lead to a lack of diversity in the ideas generated and can prevent the development of truly disruptive innovations.
Additionally, corporate accelerators often fail to provide the necessary support and resources for start-ups to succeed. They may lack the mentorship, networks, and funding opportunities that independent accelerators offer. This can lead to a high failure rate for start-ups within corporate accelerators.
In conclusion, while corporate accelerators may seem like a good idea in theory, their execution often falls short. To truly foster innovation, corporations need to rethink their approach and create environments that encourage risk-taking, diversity of thought, and the provision of adequate support for start-ups.
Go to source article: http://techcrunch.com/2014/08/25/corporate-accelerators-are-an-oxymoron/