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Poised for growth: Exploring the relationship between accelerator program design and startup performance

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  • Valentina A. Assenova
  • Raphael Amit

Abstract

Research Summary Accelerator programs provide valuable market feedback and education to participants that may improve startup performance. However, it is unclear whether the average effect of accelerator participation on startup performance post acceleration is positive, and if so, how this effect varies with accelerator program design. We analyze data from 8580 startups that made it past the initial selection stage at 408 accelerators in 176 countries between 2013 and 2019. We compare accelerated and non‐accelerated startups and find a positive average effect of accelerator participation on startup performance post acceleration. Moreover, we find that this effect varies substantially with program design, and depends on venture stage, industry, and founder expertise. Our findings highlight the impact of program design on the benefits that startups derive from accelerator participation. Managerial Summary The purpose of this study is to determine whether participation in startup accelerator programs generally leads to improved startup performance post acceleration and how the benefits of participation might vary with the design of these programs. We analyze data from 8580 startups that applied to and passed the initial selection phase at 408 accelerators in 176 countries over multiple cohorts between 2013 and 2019. Our results indicate that on average, startups that participate in accelerators perform better than those that are also selected but not accelerated. Furthermore, we find that the benefits that startups gain from being accelerated vary with the design of the program. Our findings highlight the importance of accelerator program design in influencing the extent of improvement in startup performance post acceleration.

Suggested Citation

  • Valentina A. Assenova & Raphael Amit, 2024. "Poised for growth: Exploring the relationship between accelerator program design and startup performance," Strategic Management Journal, Wiley Blackwell, vol. 45(6), pages 1029-1060, June.
    • Handle: RePEc:bla:stratm:v:45:y:2024:i:6:p:1029-1060
    DOI: 10.1002/smj.3581
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    Cited by:

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    3. Yannis Thalassinos, 2023. "Crowdfunding: A Different Approach to Investment," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 318-333.
    4. Fuad, Mohammad & Mohaghegh, Mohsen & Malhotra, Shavin, 2024. "Advantages of foreignness and accelerator selection: A study of foreign-born entrepreneurs," Journal of World Business, Elsevier, vol. 59(6).
    5. Werner, Sven & Sievert, Maximiliane & Brophy, Aoife & Trotter, Philipp, 2026. "The role of entrepreneurial ecosystems for start-up acceleration in emerging markets," Ruhr Economic Papers 1202, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    6. Sean Wise & Dave Valliere, 2025. "The Effects of Personal Attributes of Managing Directors on Startup Accelerator Performance," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 34(1), pages 111-150, February.
    7. Lang, Ulrich & Berg, Victoria & von Nitzsch, Jannis & Engelen, Andreas, 2026. "The dynamics of narcissism in founding teams: Implications for co-founder turnover and venture growth," Journal of Business Venturing, Elsevier, vol. 41(2).
    8. Yitshaki, Ronit, 2026. "Corporate accelerators as an arena for legitimacy-seeking: How do startups validate corporate legitimacy?," Technovation, Elsevier, vol. 150(C).
    9. Dana Kanze & Alessandro Piazza, 2026. "When Do Gender-Diverse Teams Engage More Investors? Evidence of Threshold Alignment Benefits at Techstars," Organization Science, INFORMS, vol. 37(1), pages 186-207, January.
    10. Diogo Costa Almeida & Ana Maria Soares & Paulo Afonso & Luis Pinto Ferreira, 2025. "Unraveling the Selection Phase of Business Incubators: Proposal for a Conceptual Model and Future Research Agenda," Sustainability, MDPI, vol. 17(14), pages 1-21, July.

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