Alacrity: a new model for venture acceleration

Abstract

As research on venture accelerators develops, different models have emerged in the literature. These focus on the goals of the accelerator, which range from creating profit for managers and building support for business platforms to promoting regional economic development, as well as on its organizational form based on its for-profit or non-profit status. This article examines a novel model, the networked venture builder model, which offers an alternative perspective on the acceleration process. Using the example of the Alacrity Global Ecosystem (AGE), this article explores how the venture builder model includes characteristics of multiple accelerator types, which has helped it both rapidly grow new ventures and achieve substantial economic development goals. Synergies between the different aspects of the AGE’s organizational design help it support multiple missions. Drawing on interviews with key stakeholders and entrepreneurs within the AGE, this article describes the history of the AGE and its present form, providing new insights into a novel, but increasingly common, accelerator design and laying the basis for further research on its emerging organizational form.