Streamliners, Switchmen and Bridge Builders: About the Mechanisms and Uniqueness of Accelerator Programs

Accelerators are a new and fast-growing element in entrepreneurial ecosystems. However, our understanding about their impact on the development of startups remains limited. Utilizing a grounded theory approach and in-depth interviews with 21 entrepreneurs, this study investigates the value-adding mechanisms of accelerators. Our analysis, however, is not limited to financial capital, which allows us to highlight the relative importance of different forms of capital in the context of accelerators. We aim to understand how accelerators stimulate the development of participants and extend the support landscape for early-stage startups. Our results are threefold. First, we demonstrate that accelerators facilitate every step in the resource mobilization by reducing uncertainties and compensating for deficiencies. Second, the founding process becomes more structured, as participants build a founder identity and the process itself is professionalized. Third, accelerators support startups in building a resource base, by providing immediate resources and building bridges to various other resources.