3 Reasons Why Your Company Must Run An Accelerator Programme
Corporate Accelerator is all about building a bridge between corporates and startups, that provide meaningful benefits to both sides. The corporate gains access and exposure to new exciting innovations, growth within their domain, new business opportunities and ‘ignite’ the spark of innovation within the company’s culture. Startups receive resources to scale their company, credibility from being associated with a reputable company/brand and the invaluable resources and network that the corporation has to offer them.
The benefits for both the corporate and the startup are endless, if, a good program is set to address the benefits of both sides.
Engaging with startups, who are at the cutting edge of new technologies, which are relevant to the corporate, can ignite the innovation spark at large organisations, that seek to enhance the innovation and novelty, as well as to uncover new growth strategies. The corporate accelerator model allows corporations to engage with startups at an early stage, giving them front raw view into emerging trends, access to new technologies, and the visibility to new opportunities for new products or services.
Corporates enjoy the mentioned benefits, without disrupting the corporate’s daily operations, and without heavy investment.
Startups are characterized by an extremely inspirational and innovative atmosphere. By involving the corporates employees in projects with startups, and appointing them as mentors/advisors or by taking part in events such as innovation workshop or pitch nights, elements from the innovative atmosphere transfers onto the corporate’s culture, which inspires employees in terms of innovation and entrepreneurship.
When the right exposure is done to the corporate accelerator programme, the corporate demonstrates commitment to adopt innovation and novelty into the company’s ‘DNA’. In addition, it plays a key role in building the startup ecosystem, helps young entrepreneurs and encourages innovation, both within and outside the company in a city/country level.
In most cases, the startups participating in a corporate accelerator enables entrepreneurs to leverage the corporate’s resources to scale their business, take advantage of new technologies and access competencies such as regulatory and/or scientific expertise that otherwise might not be available to a startups.
In many instances, involvement with a corporate incubator can also mean sizable financial assistance and unique professional services that is beyond the startup traditional financial reach.
ImpacTech invites corporates to learn more about the value that a Corporate Accelerator can bring to them.