15 Accelerators and Incubators: Fast-Tracking Innovation Accelerators and incubators are structured programs designed to nurture startups and early-stage businesses by providing financial, human, and social capital. These programs have distinct origins and objectives. Incubators, which date back to the 1950s, were initially established to support local businesses, with the Batavia Industrial Center in New York being one of the first. They typically offer long-term support, focusing on transforming ideas into viable businesses through physical workspaces, operational guidance, and network access. Accelerators, in contrast, gained prominence in the mid-2000s, with Y Combinator (founded in 2005) widely recognized as a pioneering model. These programs are more intensive and short-term, lasting 3-6 months, and aim to help startups scale quickly. They often culminate in a demo day to pitch to investors. Corporations worldwide have embraced accelerators and incubators as core components of their corporate venturing strategies. Data shows an adoption rate of approximately 50%. When successful, they offer unparalleled proximity to startups, providing corporations with deeper insights into emerging ventures’ potential. Additionally, they are often l inked to contractual rights, including discounted ownership costs or collaborative opportunities, which can yield significant strategic rewards. Key Components of Accelerators and Incubators Program Design Accelerators are time-bound, cohort-based initiatives focused on fast-tracking startups through a structured program enhanced by activities such as mentorship, fundraising, and corporate connections. Incubators, in contrast, offer longer-term support and usually provide startups with more resources than accelerators, such as workspace, technical infrastructure and deeper business advisory. Engagement Model Startups in accelerators and incubators often receive structured support and even initial investment in exchange for equity or partnership opportunities. Strategic Alignment Corporations running these programs align startup selection and mentorship with their core business objectives, fostering innovation in targeted areas. Investment and support decisions are typically driven by a combination of corporate leadership, external advisors, available resources and program managers, ensuring that emerging ventures are aligned to long-term strategic goals.