Technology Acceleration Research Articles

Are accelerators akin to breweries or wineries? A Bayesian variance decomposition of accelerator and cohort effects

AbstractResearch SummaryThe literature on startup accelerators uncovers multiple factors associated with accelerators’ advantages. Yet, we have a limited understanding of the relative magnitude of these factors. We ask: Are accelerators akin to breweries, where quality is mainly a function of the institution of origin (i.e., brewery for beer, accelerator for startups); or are they similar to wineries, where quality varies across cohorts (i.e., for a given winery, some vintages are of higher quality)? We explore this question using data from 1,350 tech‐startups graduating from dozens of accelerators in a global technology hub. A Bayesian hierarchical variance decomposition approach is introduced to account for the highly‐skewed zero‐inflated distribution in startups’ performance. We find that a notable fraction of startup performance is due to vintage; within‐accelerator, cross‐cohort variation.Managerial SummaryStartup accelerators (i.e., short‐term programs designed to help startups grow) are highly popular, with dozens of accelerators operating around the globe. Our focus is on accelerator programs aimed at catapulting technology ventures towards high growth. We ask: Are accelerators akin to breweries, where quality is mainly a function of the institution of origin (i.e., brewery for beer, accelerator for startups); or are they similar to wineries, where quality also varies across cohorts (i.e., for a given winery, some vintages are of higher quality)? A Bayesian hierarchical variance decomposition approach isused to study data from a global technology hub, detailing the performance of hundreds of startups that graduated across multiple accelerators. We find that a significant portion of startup success is linked to cohort‐specific factors within accelerators, highlighting the role of timing and dynamics of each accelerator cohort.

TINJAUAN LITERATUR: Pendidikan Entrepreneur Mahasiswa

The purpose of this research is to identify and direct efforts needed to enhance the role of higher education institutions in entrepreneurship education. The method for searching data sources for articles was conducted through the GARUDA database (2019-2023) to retrieve relevant articles published in Bahasa Indonesia. Terms and key phrases related to student entrepreneurs were reviewed through abstracts or texts of research journals before being included in the review according to criteria. Based on the analysis of the literature review, there were 59 relevant journals found. The review results indicate that by implementing relevant curriculum provision steps, business incubators and startup accelerators, entrepreneurship skills training, collaboration with industries, funding support, entrepreneurship mindset development, and coaching and mentoring programs, universities are expected to play a more effective role in preparing students to become successful entrepreneurs. This, in turn, will contribute to economic growth, job creation, and achieving Indonesia's vision as a developed country by 2045.

Advantages of foreignness and accelerator selection: A study of foreign-born entrepreneurs

Foreign-born entrepreneurs are crucial for new ventures and regional growth. A key driver of their success is selection into business accelerator programs. We theorize that foreign-born founders with local residency and work experience are more likely to be selected by these programs. However, the institutional distance between an entrepreneur's host and the birth country reduces their likelihood of selection, whereas the entrepreneurial development of the host country increases it. We also examine the conditional effect of market learning capability. Evidence from 611 ventures in OECD countries supports our hypotheses, underlining the complex impact of foreignness on accelerator selection.

No substitute for strong institutions: Impact of accelerators on new venture performance

Accelerators are gaining popularity in the entrepreneurship ecosystem for accelerating new ventures by providing benefits such as learning, sorting, and signaling. However, theoretical tension exists about whether these benefits are contingent on quality of institutions. The institutional-void view suggests that accelerator benefits are more pronounced in countries with weak institutions, while the institutional-support view posits the importance of strong institutions for realizing the benefits of accelerators. In this study, we theorize and test the moderating role of institutions in assessing the impact of accelerators on new venture performance using a generalized difference-indifferences technique on a worldwide accelerator database. At the baseline, the findings are consistent with previous literature, which shows a positive impact of accelerators on new ventures performance. More importantly, the key insight of our study is that the positive impact of accelerators is higher in countries with stronger institutions, thus favoring the institutional-support view. These findings contribute to emerging empirical research that assesses the impact of business accelerators on new venture performance.

Do accelerators promote the growth of startups? Analysing the effectiveness of startup accelerators through the lens of big data

ABSTRACT Startup accelerators have emerged as a prominent mechanism for supporting early-stage ventures, yet questions persist regarding their effectiveness. This study addresses the gap in understanding by investigating whether accelerators promote the growth of all startups or only those already successful. Leveraging web-search traffic data as a proxy for startup growth, trend analysis is used to assess the impact of acceleration. Using a sample of 103 startups from Y Combinator from 2017 and 2018, the analysis reveals that accelerators aid startups regardless of their pre-acceleration growth status (i.e. growing, stagnating or declining). Furthermore, non-growing startups selected for acceleration exhibit better chances of achieving growth post-acceleration compared to already growing counterparts. These findings add important insights into the understanding of accelerators’ effectiveness, demonstrating that accelerators work for all selected startups, not only for those already successful. Our findings offer two important practical implications: policymakers and stakeholders should continue supporting accelerators due to their positive impact on startup growth and reducing uncertainty; startups should focus on their future potential and vision when applying for an acceleration program. Using the introduced approach, future research could compare the effectiveness of accelerators offering offline and online programs, targeting specific industry sectors, and across different periods.

Social media platforms use in startups’ international marketing strategies: a multiple case study

PurposeThis paper aims to investigate how social media support startups in accessing international markets and interacting with foreign customers and stakeholders, focusing primarily on the social network LinkedIn.Design/methodology/approachGiven the explorative research aim, the paper adopts a multiple case study approach, analyzing seven Italian food tech startups. 15 semi-structured interviews were conducted, also involving startup accelerators and a business angel to deepen the knowledge on the investigated phenomenon. In addition, a content analysis of the LinkedIn pages of the seven selected startups was conducted using NVivo 14 software.FindingsThe results of this study show that social media support startups to (1) diffuse brand awareness in international markets, (2) position their offering abroad and (3) develop relationships with international stakeholders to penetrate the local business. Furthermore, the main challenges and difficulties related to the use of social media by startups for these purposes were identified.Practical implicationsThis study provides useful managerial implications to enable startups to strategically use social media to access international markets and connect with key foreign networks. Also from a policy perspective, incentives to support the expansion and consolidation of startups into international markets are crucial.Originality/valueAlthough a vast literature has dealt with internationalization strategies, this study clarifies the role of social media in changing these dynamics speeding up startups’ access to foreign markets and identifying key local stakeholders.

Schallamach waves in the rolling inception of rubber wheel

Rubber wheel exhibits complex behaviors during high-acceleration rolling, but the behind mechanism is not yet clear. Although rigorous research has been conducted on the Schallamach waves in the sliding of rubber, it is nevertheless unknown whether they exist during the rolling contact. Through micromechanical modeling and transient analysis, we found that the adhesion energy and startup acceleration jointly determine the contact behaviors in the rolling inception, with the result that Schallamach waves can emerge when rubber wheel rolls with high-acceleration and strong-adhesion. We analyzed the speed of Schallamach waves and the associated stick-slip friction, and discussed the possible drawback of surface creasing. The findings from this investigation provide new insights into the mechanisms governing the rolling friction of rubber wheels.

Some aspects of state support of innovation processes in the region

The development of innovative activity of economicentities is one of the main objectives of the state policy.State instruments for support and development ofinnovation activity should provide support at all stagesof the innovation life cycle, from idea generation tosuccessful commercialisation of innovative products, andthe maximum effect will be achieved only taking intoaccount the integration of all participants of theinnovation process - from scientists and entrepreneursinnovatorsto venture funds and innovative enterprises.The innovation economy, based on scientific knowledgeand intellectual potential, is able to ensure the expandedreproduction of knowledge-intensive gross product ofboth the region and the country as a whole. The development of innovation processes is impossiblewithout the generation of new ideas, knowledge, projectinitiation at the initial stages of the innovation cycle, andwithout the use of venture capital investments at the finalstages. This problem is most difficult to solve in theregions, due to significant differences in their socioeconomicdevelopment, level of competence of scientificschools, sectoral specifics, level of concentration ofindustrial potential, including due to insufficientjustification of the directions of further development ofregions - innovation leaders. In order to support subprocessesrelated to resource provision, regionalauthorities can, on the basis of budgetary resources, forminnovation infrastructure institutions, such as: businessincubators, business accelerators, seed funds,technoparks, etc.; finance various innovation projects;invest in the development of human and intellectualcapital - in education, for training personnel ininnovation management, breakthrough scientifictechnologies, in the part of personnel training of thehighest level. At the same time, we need a promising model of longterminnovation development, which implies a gradualtransition from state to market-based instruments ofdevelopment and support of innovation activity,including innovation infrastructure functioning onmarket conditions.

Підходи до комерціалізації результатів інноваційної діяльності спільних підприємств

Various approaches to the commercialization of the results of innovative activities of joint enterprises are considered. According to the results of the review of the results of the evaluation of the innovative activity of the countries of the world, a ranking scheme of the leading countries in terms of the directions of innovative activity was generated. The process of commercialization of the results of innovative activities of enterprises is described. Systematized methods of evaluating the potential of commercialization of innovative activity, among which the method of technological audit, the method of fuzzy logic and the four-dimensional approach are highlighted. Approaches to evaluating its effectiveness are considered. Emphasis is placed on the main criteria in approaches to the commercialization of innovations, namely on the evaluation of the potential of commercialization and the assessment of its effectiveness. The list of indicators allowing to evaluate the financial result of the commercialization of the company’s innovations is highlighted. Methods of assessing the prospects and readiness for market commercialization of innovative developments, which are most adaptable for joint ventures, are described. The priority list includes the methodology for assessing the readiness for market commercialization of scientific developments, the TRL (Technology Readiness Level) methodology, developed by the US National Aerospace Agency NASA, and the TPRL (Technology Project Readiness Level) methodology. The main centers of transformation of innovative ideas or research results into marketable products or services are highlighted. The focus is on Technology Transfer Offices (TTO), startup accelerators and incubators, public-private partnerships, direct investment in research and development, open innovation, cluster innovation projects, and market-oriented innovation. The procedure for assessing the levels of suitability for commercialization of innovative development is illustrated. Based on the results of the conducted research, a general scheme for the commercialization of innovations was built.

Constructing Entrepreneurial Opportunities: The Argumentative Structure of Early-Stage Business Pitch Problem Statements at an International Business Accelerator

Constructing Entrepreneurial Opportunities: The Argumentative Structure of Early-Stage Business Pitch Problem Statements at an International Business Accelerator

A Reliable and Efficient I-f Startup Method of Sensorless Ultra-High-Speed SPMSM for Fuel Cell Air Compressors

Extended back electromotive force (EEMF)-based position sensorless field-oriented control (FOC) is widely utilized for ultra-high-speed surface-mounted permanent magnet synchronous motors (UHS-SPMSMs) driven fuel cell air compressors in medium-high speed applications. Unfortunately, the estimated position is imprecise due to too small EEMF under low speed operation. Hence, current-to-frequency (I-f) control is more suitable for startup. Conventional I-f methods rarely achieve the tradeoff between startup acceleration and load capacity, and the transition to sensorless FOC is mostly realized in the constant-speed stage, which is unacceptable for UHS-SPMSM considering the critical requirement of startup time. In this article, a new closed-loop I-f control approach is proposed to achieve fast and efficient startup. The frequency of reference current vector is corrected automatically based on the active power and the real-time motor torque, which contributes to damping effect for startup reliability. Moreover, an amplitude compensator of reference current vector is designed based on the reactive power, ensuring the maximum torque per ampere operation and higher efficiency. Furthermore, the speed PI controller is enhanced by variable bandwidth design for smoother sensorless transition. These theoretical advantages are validated through experiments with a 550 V, 35 kW UHS-SPMSM. The experimental results demonstrated the enhanced startup performance compared with conventional I-f control.

Unlocking entrepreneurial well-being: exploring the interplay of psychological capital and impostor phenomenon

Purpose The purpose of this empirical investigation was to explore the interrelationship between psychological capital (PsyCaP) and impostor phenomenon (IP) experienced by entrepreneurs. Design/methodology/approach The researchers performed exploratory data analysis, using a correlation matrix that included the composite score of all PsyCap dimensions (psychological capital questionnaire [PCQ-24]) and the factor scores of hope, self-efficacy, resilience and optimism. The data analysis was conducted in relation to participants’ IP scores. Findings The study results demonstrated that a negative relationship was present between entrepreneurs’ Clance impostor phenomenon scale (CIPS) factor scores (consisting of hope, self-efficacy, resilience and optimism) and PsyCap dimensions (PCQ-24) composite subscales. This indicated that higher levels of PsyCaP were associated with lower levels of IP experience by entrepreneurs. Research limitations/implications Theoretically, it must be noted that, based upon these study results, both “impostor phenomenon” and entrepreneurial identity formation occurred among entrepreneurs. It was known to be associated with external environmental, situational and societal factors. The researchers established the relationship between entrepreneurs’ “impostor phenomenon” and “psychological capital (PsyCap)”. Practical implications Entrepreneurs and executives associated with business accelerators and incubators should comprehend the link between IP and PsyCap in entrepreneurs. This would enhance the well-being of entrepreneurs in their challenging context. Entrepreneurs and executives associated with business accelerators and incubators might explore the effectiveness of PsyCap-based interventions, along with IP-related considerations. Originality/value This was one of the first empirical studies investigating and establishing the relationship between entrepreneurs’ “impostor phenomenon” and “psychological capital (PsyCap)”.

Learning to ride the high growth “Rollercoaster”: the role of publicly funded business accelerator programmes

AbstractHigh growth firms (HGFs) are a vital determinant of regional economic competitiveness. This paper examines the effectiveness of a Welsh publicly funded business accelerator programme (BAP) designed to nurture HGFs via relational support measures. The paper teases out both the support requirements sought by high growth entrepreneurs, together with the perceived effectiveness of the programme’s offering. Hitherto, the literature has been silent in terms of the mental well-being and psychological resilience of founders of HGFs. This study discovered how mental well-being and psychological resilience of entrepreneurs was very acutely and detrimentally affected when experiencing periods of rapid firm growth. The research also uncovered a disconnect between the support needs of HGFs and those provided by BAPs. To help develop the capabilities and durability of entrepreneurs, “growth readiness” coaching together with psychological resilience training seem appropriate policy measures to help entrepreneurs successfully navigate turbulent episodes of high growth.

Overcoming the liability of patenting in early-stage ventures with market orientation

ABSTRACT Early-stage ventures often face bounded rationality from a lack of experience as well as limited resources. A strategic choice to patent a firm’s innovations to prevent competitor infringement involves significant resource commitments. We hypothesise that for early-stage ventures, having a patent could create liability on short-term financial performance; however, higher levels of market orientation could overcome it. We find support for our hypotheses using a sample of early-stage ventures that apply to business accelerators for support. This study contributes to the extant literature on innovation and entrepreneurship, as well as on market orientation, to show that for early-stage ventures, a potential liability of patenting exists, but it can be mitigated by higher levels of market orientation.

Organizational and legal assessment of the impact of relocation on the investment and economic policy of enterprises

The object of the study is the process of relocation of Ukrainian enterprises both within the country and abroad. The problem of the study, first of all, is that the relocation of business for domestic business entities was not very relevant recently, and the practical experience of moving capacities is practically absent. An analysis of the difficulties encountered by entrepreneurs when deciding to relocate the company was carried out. In addition, the study examines the enterprise relocation program proposed by the government and its shortcomings that make it difficult to use. It was determined that among the main problems of the state program of relocation are the insufficient information base and awareness of the existing program, the lack of established communication between the participants of the process. It was emphasized that entrepreneurs need additional financing for the time of adaptation and stabilization of their business in new regions, expansion of infrastructure in the form of creation of business incubators, business hubs and business accelerators. However, there are almost no innovative relocation companies in the studied regions. It is necessary to stimulate innovative activity with long-term sectoral development programs and fiscal incentives, since the relocation of enterprises in modern conditions is an effective tool for the restoration of entrepreneurial activity in new regions of the country, which in turn ensures the relative stability of the economy, provides jobs, guarantees the production of national products and services, as well as the possibility of their implementation on the international market. Potential solutions have been analyzed and determined, which can contribute to revitalizing the relocation of businesses and making the process more successful. However, this requires state support and additional funding, which will help bring the enterprise relocation program to a new level, which in turn will help enterprises to continue their activities and have a positive impact on the state's economy. This study can become a reference point for Ukrainian business in the near future. Also, the research can be useful for the authorities, the public and the university environment.

Modeling and analysis of Alpine skiing downhill based on the DPAS model considering four-way inhomogeneous environmental winds with digital twins at downhill course of the Beijing Olympic Winter Games

In Alpine skiing, the influence of the environment wind on the athlete is crucial. To accurately analyze the coupling effect of environment wind speed, wind direction, and the athlete’s skiing process, this paper establishes the kinematic equations of the athlete based on Newtonian classical mechanics and computational fluid dynamics (CFD) and proposes a discretization method for the course. Simulation results were obtained by using CFD to obtain digital twins for the course and its surroundings. The simulation results were also used as input to the wind parameters to analyze the athletes’ sliding performance. The Downhill Process in Alpine Skiing (DPAS) model was constructed to validate the actual downhill course in the Beijing Olympic Winter Games. An analytical framework for downhill skiing with way inhomogeneous winds was demonstrated to be a good simulation and validation of our analytical framework, proving its good simulatability and reliability. The downhill process is also subdivided into four phases: start-up acceleration phase, core acceleration phase, intermittent acceleration phase, and endurance sprint phase, based on the velocity-time curve derived from the actual course simulation. Tactical skiing strategies for skiers to improve their performance are proposed for the different stages of the process. We believe that the DPAS model can also be applied to other parts of Alpine skiing such as slalom, giant slalom, and super-G, and that the results can be used to suggest tactical strategies to improve performance.

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

AbstractResearch SummaryAccelerator 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 SummaryThe 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.

A structured review of start-up accelerator performance measurement: an integrated entrepreneurial program evaluation approach

ABSTRACT As a distinct type of early-stage entrepreneurial support organization, start-up accelerators are theoretically well positioned as a new and burgeoning phenomenon for fostering the process of new venture creation. The rapid expansion and notoriety of these intermediaries combined with a growing list of well-known high growth companies emerging from their programs hints at their potential impact. Yet, the question of whether accelerators work (or not) and to what effect is still at a formative stage. The objective of this paper is to conduct a structured review of what accelerators ‘do’ and how scholars have chosen to measure performance across various research designs, change variables and multiple levels of analysis. Drawing from program evaluation theory, an integrated entrepreneurial logic model is used to capture and sort variables associated with measuring start up accelerator performance between 2011 and 2021. We make several contributions through our analysis of research designs, linked change variables and thematic areas to provide insight into the advances, gaps, limitations and tensions arising from extant scholarly attempts at SA performance measurement. The developmental impact of SA programs is discussed with methodological, theoretical, and practical implications for documenting progress and future research pathways charted.

Fulfilling the process promise in new venture creation research: The ethnography/accelerator approach

AbstractResearch SummaryCollecting fine‐grained, longitudinal data to study new venture creation (NVC) is critical but empirically challenging given the partly invisible, collective, and highly discursive nature of NVC. This article offers the ethnography/accelerator approach as one powerful solution to this problem. This approach theorizes the implications raised by the invisible, collective, and highly discursive nature of NVC as challenges of accessibility, multivocality, and reflexivity. It provides a framework articulating these challenges with key ethnographic insights to advance data collection and theory building, before discussing five implications of this approach for NVC research and providing recommendations and points of caution.Managerial SummaryExplaining how to create, organize, and operate a new venture is critical but raises important methodological challenges. Early‐stage ventures have no operating history, the stakeholders collaborating with entrepreneurs are geographically dispersed, and entrepreneurs' stories are often examined uncritically. The ethnography/accelerator approach suggests overcoming these challenges by using business accelerators as a research setting to apply ethnographic methods and collect reliable data. It provides guidance for enabling the full‐time immersion of the researcher into this setting, allowing the collection of finely‐grained data capturing the day‐to‐day practices and interactions at the heart of new venture creation and the views of the entrepreneurs, mentors, investors, policymakers, and the like playing a pivotal role in this process.

Untangling the Benefits of Business Accelerators: Experimental Evidence on What Works and for Whom 

Untangling the Benefits of Business Accelerators: Experimental Evidence on What Works and for Whom