As the pace of technology and disruption increases and the average company life expectancy continues to shrink, organisations need a strategy to future proof their business and avoid an ugly demise. Organisations need to be able to change direction and grow new businesses, if their market moves. In the famous words of Jack Welch, former CEO of GE, “if the rate of change on the outside exceeds the rate of change on the inside, the end is near.” This is where corporate accelerators come in. Corporate accelerators bring the best of corporate muscle and startup speed together. Such programs allow large organisations to stay competitive, boost growth potential and reduce the chance of being disrupted. Let’s delve deeper into why your company should run an accelerator program.

Innovate or Die

Engaging with startups who are at the cutting edge of new technologies can spur innovation at large organisations that are struggling to maintain relevance or uncover new growth strategies. The corporate accelerator model allows large corporations to foster relationships with startups at an early stage, giving large organisations  insight into emerging trends, the visibility to detect threats as early as possible and leverage opportunities for new products or services.

More than Just a PR Exercise

Competition for exceptional talent is high and employee churn costs companies tens of thousands of dollars every year. Sponsoring an accelerator program to improve brand in the market to attract and retain top talent is a no brainer. Beyond being a great marketing hack for talent acquisition, the organisation’s newfound proximity to startups can be the extra ace up your sleeve when closing deals. Being familiar with the latest technologies and a part of the industry disrupting action can increase the trust factor and comfort levels of potential new clients.

‍