Corporate Accelerator: Top List & All You Need To Know (2024)

Corporate Accelerator: Fostering Innovation within Established Companies

In today’s fast-paced business landscape, innovation is crucial for companies to stay competitive and adapt to changing market dynamics. Corporate accelerators, also known as corporate venturing or corporate innovation, have emerged as powerful hubs for startups and established companies to foster innovation, drive growth, and explore new business opportunities with corporates.

What is a Corporate Accelerator?

Corporate accelerator is a type of seed accelerator where established companies nurture and support internal or external startups to develop innovative products, services, or business models that align with the company’s strategic goals and objectives.

Unlike traditional startup incubators or accelerators, which are independent entities, corporate accelerator is operated and funded by established companies to drive innovation from within.

How Corporate Accelerators Work

Corporate accelerators typically operate as innovation labs or dedicated units within the parent company, tasked with identifying, developing, and scaling new ventures or initiatives.

These units may collaborate with internal teams, external startups, academic institutions, or other partners to drive innovation across various areas of the business.

Corporate accelerators often provide startups with access to funding, mentorship, resources, and infrastructure, as well as opportunities to leverage the parent company’s brand, customer base, and distribution channels.

In return, the parent company benefits from access to new ideas, technologies, and talent, as well as the potential to diversify its revenue streams and stay ahead of the competition.

Benefits of Corporate Accelerators

1. Access to Innovation: Corporate accelerators enable established companies to tap into external innovation and explore new ideas, technologies, and business models that they may not have developed internally.
2. Speed to Market: By partnering with startups or operating internal ventures, corporate incubators can accelerate the development and commercialization of innovative products or services, reducing time-to-market and gaining a competitive edge.
3. Risk Mitigation: By incubating startups within a controlled environment, established companies can mitigate the risk associated with innovation and experimentation, allowing them to test new ideas and concepts before committing significant resources.
4. Talent Development: Corporate accelerators provide employees with opportunities to work on innovative projects, collaborate with startups, and develop new skills, fostering a culture of entrepreneurship and continuous learning within the organization.
5. Strategic Alignment: Corporate accelerators ensure that innovation efforts are aligned with the company’s strategic goals and objectives, allowing for greater focus and coherence in the innovation process.

List of Corporate Accelerators

This list demonstrates how corporate accelerators play a vital role in driving innovation and growth within established companies, allowing them to stay agile, competitive, and relevant in today’s dynamic business environment.

So, here’s a list of some of the most popular corporate accelerators and their acceleration programs:

Google X (Alphabet)

Google X is Alphabet’s moonshot factory that focuses on developing radical, futuristic technologies such as self-driving cars, internet balloons, and delivery drones.

• Location: Mountain View, California
• Established Year: 2010
• Key Ventures: Waymo, Wing, and Loon
• Type of Support Available for Outside Startups: Through its incubation program, Google X provides startups with access to cutting-edge technology, expert mentorship, and funding opportunities to develop disruptive solutions.
• Site URL: To learn more, visit: Google X.

Walmart Labs

Walmart Labs is Walmart’s technology accelerator that focuses on developing innovative solutions in areas such as e-commerce, supply chain management, and retail operations.

The retail giant operates the Walmart Innovation Community accelerator program to support startups and entrepreneurs developing innovative solutions for the retail industry. The Walmart Innovation Community aims to support startups with emphasis on supply chain optimization, sustainability, and customer experience enhancement.

Through this accelerator program, selected startups receive funding, mentorship, access to Walmart’s resources and infrastructure, and opportunities to pilot their solutions within Walmart’s operations. The goal is to drive innovation, improve efficiency, and enhance the overall shopping experience for Walmart customers.

• Location: Silicon Valley, California
• Established Year: 2011
• Key Ventures: Spatialand and Inkling
• Type of Support Available for Outside Startups: Outside startups can access support such as mentorship, investment opportunities, and access to Walmart’s extensive retail network.
• Site URL: For more information, visit: Walmart Labs.

BMW Startup Garage

BMW Startup Garage is BMW’s innovation hub that collaborates with startups to develop innovative technologies and solutions in the mobility and automotive industry.

This program aimed to identify and collaborate with startups working on disruptive technologies in these sectors. Through the accelerator, BMW provided startups with access to funding, mentorship, and testing facilities to develop and validate their innovations.

By partnering with startups, BMW sought to drive innovation, accelerate product development, and maintain its position as a leader in the automotive industry.

• Location: Munich, Germany
• Established Year: 2015
• Key Ventures: Chargemaster and ProGlove
• Type of Support Available for Outside Startups: Outside startups receive support in the form of investment, access to BMW’s expertise and resources, and potential partnerships.
• Site URL: Learn more at: BMW Startup Garage.

Unilever Foundry

Unilever Foundry is Unilever’s platform for partnering with startups to drive innovation in areas such as marketing, sustainability, and consumer goods.

Unilever’s accelerator program partners with startups and scale-ups that offer innovative solutions in areas such as sustainability, marketing, and supply chain management.

Through the program, Unilever provides funding, mentorship, and access to its extensive network and resources to help these businesses grow and succeed. By collaborating with startups, Unilever gains access to new ideas, technologies, and talent to drive innovation within its own business.

• Location: London, United Kingdom
• Established Year: 2014
• Key Ventures: Olapic, Blis
• Type of Support Available for Outside Startups: Mentorship, pilot opportunities, collaboration with Unilever’s global brands
• Site URL: Unilever Foundry

GE Ventures

GE Ventures is General Electric’s venture capital arm that invests in and supports startups developing innovative technologies in sectors such as healthcare, energy, and manufacturing.

• Location: Menlo Park, California
• Established Year: 2013
• Key Ventures: Carbon, Avitas Systems, and Clearpath Robotics
• Type of Support Available for Outside Startups: Startups receive support through investment, access to GE’s industry expertise, and potential partnerships.
• Site URL: Visit GE Ventures for further details.

Chobani

The Greek yogurt company launched the Chobani Food Incubator program to support emerging food and beverage startups.

Chobani aims at leveraging the resources and expertise offered by its accelerator to mentor and support smaller businesses in the food industry. This initiative helps small food startups in the broken food system to foster innovation and build partnerships. The incubator eventually helps strengthen Chobani’s position as a leader in the yogurt market.

• Location: Norwich, New York, United States
• Established Year: 2016
• Key Ventures: Banza and Rumi Spice
• Type of Support Available for Outside Startups: Startups can access resources such as funding, mentorship, and potential distribution opportunities through Chobani’s incubator program.
• Site URL: Visit Chobani Incubator for details.

IKEA

IKEA, the Swedish furniture retailer, has launched its own business accelerator program called IKEA Bootcamp.

Through this program, IKEA collaborates with startups working on innovative solutions in areas such as sustainability, technology, and retail. Selected startups receive funding, mentorship, and access to IKEA’s global network and resources to develop their ideas and products. This initiative allows IKEA to stay at the forefront of innovation and explore new business opportunities.

• Location: Älmhult, Sweden
• Established Year: 2017
• Program: IDEA Bootcamp
• Focus: Home, Lifestyle
• Key Ventures: Space10 and Ori
• Support: Startups can benefit from mentorship, funding, and potential collaboration with IKEA to develop innovative solutions
• Stay Updated: IKEA Accelerator.

Nike

Nike, the global sportswear company, launched Nike+ Accelerator program. This program focused on fostering innovation in the fitness and technology sectors. Through the accelerator, Nike collaborated with startups to develop new products and services that integrate digital technology with athletic performance.

This initiative helped Nike stay at the forefront of innovation and enhance its brand relevance in the digital age.

After this Nike has launched few other accelerator programs such as Air Max Accelerator and Nike FC Accelerator.

• Location: Beaverton, Oregon
• Program: Nike+ Accelerator, Air Max, Nike FC
• Focus: Sports, fitness, and technology sectors
• Support: Mentorship, access to Nike’s network, potential investment opportunities
• Stay Updated: Check Nike’s official channels for updates on their accelerator program.

Coca-Cola

Coca-Cola, the multinational beverage corporation, has been involved in various business accelerator programs, such as The Bridge by Coca-Cola and the Founders program. As of date, both these programs are shut down. These programs aimed to identify and support startups with innovative solutions in areas such as marketing, distribution, and sustainability.

By partnering with startups, Coca-Cola sought to drive innovation, explore new business opportunities, and maintain its position as a leader in the beverage industry.

Coca-Cola also operated the Coca-Cola Founders program, supporting startups in the beverage and consumer goods industries. This program also, however, was shut down in 2017.

• Location: Atlanta, Georgia
• Program: The Bridge by Coca-Cola, Coca-Cola Founders Program
• Type of Support Available for Outside Startups: Mentorship, access to Coca-Cola’s resources and network

General Electric (GE)

General Electric (GE) participated in the GE Ventures Accelerator program. This program focused on supporting startups and entrepreneurs developing cutting-edge technologies in sectors such as healthcare, energy, and manufacturing.

Through the accelerator, GE provided funding, mentorship, and access to resources to help startups scale their industrial innovations and drive growth.

This collaboration allowed GE to tap into external innovation and stay competitive in rapidly evolving markets.

• Location: Menlo Park, California
• Established Year: 2013
• Key Venture Names: Carbon, Avitas Systems, Clearpath Robotics
• Type of Support Available for Outside Startups: Investment, access to GE’s industry expertise, potential partnerships
• Site URL: GE Ventures

Amazon

Amazon, the e-commerce and technology giant, operates the corporate accelerator program called Amazon Launchpad.

Earlier Amazon launched Alexa Accelerator program in partnership with Techstars.

This program focuses on supporting startups developing voice-enabled technologies and applications for Amazon’s Alexa virtual assistant. Selected startups receive funding, mentorship, and access to Amazon’s resources and network to accelerate their growth and market adoption. Through this accelerator, Amazon aims to expand the capabilities of its voice platform and drive innovation in the voice technology space.

• Location: Seattle, Washington
• Key Venture Names: Mamaearth, Toddle, Boomopod, Date Lady, The Man Company, Kapiva Ayurveda, Yoga Bar
• Type of Support Available for Outside Startups: Product launch support, marketing assistance, access to Amazon’s global customer base
• Site URL: Amazon Launchpad

SAP

SAP runs the SAP.iO program, which focuses on supporting startups developing innovative solutions in areas such as enterprise software, machine learning, artificial intelligence, and cloud computing.

Selected startups receive funding, mentorship, and access to SAP’s technology and customer network to help them scale their businesses and drive innovation in the enterprise software space.

• Location: Walldorf, Germany
• Key Venture Names: Censia, Zoovu, MindBridge, ARpalus, Velou
• Type of Support Available for Outside Startups: Mentorship, access to SAP’s technology platform and customer base, go-to-market benefits and potential investment opportunities
• Site URL: SAP.iO

Rise by Barclays

Rise by Barclays is a global network of innovation hubs that support startups and entrepreneurs working on innovative technologies and solutions in the fintech and financial services industry.

Through Rise, startups receive access to mentorship, resources, and networking opportunities to help them grow and scale their businesses in the rapidly evolving fintech landscape.

• Locations: London, New York, India
• Type of Support Available for Outside Startups: Mentorship, access to Barclays’ network and resources, potential investment opportunities
• Site URL: Rise by Barclays

Wayra by Telefonica

Wayra is Telefonica’s global open innovation platform that supports startups and entrepreneurs in developing innovative technologies and solutions in areas such as telecommunications, digital services, and cybersecurity.

Selected startups receive funding, mentorship, and access to Telefonica’s resources and network to help them accelerate their growth and innovation.

• Location: Germany, UK, Brazil, Peru, Colombia, Mexico, Argentina, Chile
• Focus: Digital Consumer, Healthcare, Fintech, AI, IoT, Cybersecurity, Cloud computing, Web3
• Key Venture Names: Action.ai, 5Analytics
• Startups Supported: 1,100+
• Investments: €253 million
• Programs: iOPE, Vivo Ventures
• Type of Support Available for Outside Startups: Investment, mentorship, access to Telefonica’s network and resources
• Site URL: Wayra by Telefonica

P&G Ventures

P&G Ventures is Procter & Gamble’s corporate venture studio that focuses on supporting startups and entrepreneurs developing consumer products and brands in areas such as health, wellness, and household goods.

Selected startups receive funding, mentorship, and access to P&G’s resources and expertise to help them bring their products to market and drive innovation in the consumer goods industry.

• Location: Cincinnati, Ohio, USA
• Key Venture Names: Zevo
• Focus: Pest Control, Pet Care/Pet Parenting, Automotive
• Type of Support Available for Outside Startups: Mentorship, access to P&G’s expertise and network, potential investment opportunities
• Site URL: P&G Ventures

AstraZeneca Incubator

The global pharma and biotech giant operates an incubator program that supports startups and entrepreneurs developing innovative healthcare solutions in areas such as pharmaceuticals, biotechnology, and digital health.

AstraZeneca established the BioVentureHub in 2014. It is as an open innovation ecosystem to further strengthen competitiveness and dynamism in the life science industry.

The BioVentureHub is based on an innovative public-private-partnership model and is located at the heart of AstraZeneca Gothenburg. It gives emerging life science companies and academic groups a unique opportunity to co-locate with and tap into the power of AstraZeneca’s world-class scientists and state of the art lab facilities and infrastructure, and with each other.

Selected startups receive funding, mentorship, and access to AstraZeneca’s resources and network to help them accelerate their growth and drive innovation in the healthcare industry.

• Location: Gothenburg, Sweden
• Established Year: 2014
• Programs: AstraZeneca BioVenture Hub, Idea Incubator
• Key Venture Names: Albus Health, OligoNova
• Startups Supported: 23
• Focus: Data & AI, Healthtech, Medtech, Drug Discovery
• Type of Support Available for Outside Startups: Mentorship, access to AstraZeneca’s expertise and network, potential investment opportunities
• Site URL: AstraZeneca BioVenture Hub

Digital Garage by Aviva

Digital Garage is Aviva’s innovation hub that supports startups and entrepreneurs developing innovative technologies and solutions in areas such as insurance, fintech, and digital services.

Selected startups receive funding, mentorship, and access to Aviva’s resources and network to help them scale their businesses and drive innovation in the insurance industry.

• Location: London, United Kingdom
• Established Year: N/A
• Key Venture Names: N/A
• Type of Support Available for Outside Startups: Mentorship, access to Aviva’s expertise and network, potential investment opportunities
• Site URL: Digital Garage by Aviva

Ericsson ONE

Ericsson ONE is Ericsson’s innovation hub and its internal accelerator for Ericsson employees (intrapreneurs) to support pioneering new ideas. It supports developing innovative technologies and solutions in areas such as telecommunications, 5G, and internet of things.

Selected startups receive funding, mentorship, and access to Ericsson’s global scale, technology, resources and network to help them accelerate their growth and drive innovation in the telecommunications industry.

• Location: Stockholm, Sweden
• Program: Ericsson ONE
• Focus: Internal employee ideas in telecommunication
• Key Venture Names: Ericsson LynkAI, Emodo Ad Inventory, Project ”Eagle”
• Type of Support Available for Outside Startups: Mentorship, access to Ericsson’s expertise and network, potential investment opportunities
• Site URL: Ericsson ONE

InGenius by Nestle

InGenius is Nestle’s Employee Innovation Accelerator program that supports its employees (intrapreneurs) developing innovative food and beverage products and solutions.

Nestle’s InGenius serves as a breeding ground for innovation, it consists of a dedicated entrepreneurial team and a crowdsourcing platform where employees can collaborate and grow ideas, with the support of the internal and external ecosystem, into tangible business opportunities.

More than 83’000 Nestlé employees from around the world have generated 10’000 new ideas and submitted over 128’000 votes and comments.

At the heart of InGenius accelerator is digital acceleration, design thinking, user research and prototyping. The objective is to help the idea owner to refine their idea and pitch it to executives for seed funding. After receiving the funds, the team builds the product in hackathon-style.

• Location: Vevey, Switzerland; internal hubs in USA, Canada, South Korea
• Program: InGenius (6 months)
• Key Ventures (Projects): Nestlé Retorna, ONEST
• Type of Support Available for Outside Startups: Mentorship, access to Nestle’s expertise and network, potential investment opportunities
• Site URL: InGenius by Nestle

Volvo Innovation Lab by Volvo

Volvo operates an innovation lab that supports its employees to develop innovative technologies and solutions in areas such as automotive, mobility, and sustainability.

The Innovation Lab partner with customers and other stakeholders to identify, explore and validate new ideas and new businesses.

• Brief: Volvo Innovation Lab supports startups in the automotive and transportation sectors.
• Location: Gothenburg, Sweden
• Key Ventures/ Projects: Smoovit, Smart Access
• Type of Support Available for Outside Startups: Mentorship, access to Volvo’s expertise and network, potential investment opportunities
• Site URL: Volvo Innovation Lab

MobilityXlab

MobilityXlab is a collaborative innovation hub based in Gothenburg, Sweden, focusing on supporting startups in the mobility and transportation sectors.

It is launched by 6 partner companies: Ericsson, Magna, Polestar, Volvo Group, Zeekr Technology Europe, and Zenseact.

Established to drive innovation in areas such as autonomous vehicles, electrification, and connectivity, MobilityXlab provides startups with valuable resources, mentorship, and access to a network of industry experts.

Through its structured programs and partnerships with leading automotive companies, MobilityXlab accelerates the development and adoption of cutting-edge technologies in the mobility industry, contributing to the advancement of sustainable transportation solutions.

• Brief: MobilityXlab supports startups in the mobility and transportation sectors.
• Location: Gothenburg, Sweden
• Program: 6 months innovation program
• Key Ventures: Hailo, TripleBlind, ZeroKey
• Investment: MobilityXlab does not directly invest in startups. The goal of its program is for entrepreneurs to enter a commercial project with one of its partners.
• Type of Support Available for Outside Startups: Mentorship, access to MobilityXlab’s expertise and network, potential investment opportunities (indirect)
• Site URL: MobilityXlab

DriveTLV

Drive TLV is a leading innovation hub located in Tel Aviv, Israel, specializing in supporting startups in the automotive and transportation sectors.

It connects startups with corporates by providing venture guidance to build the prototype and then helps the startup test the POC at their partner corporates. Partner corporates include Volvo Group, Goodyear, ituran, Hertz, Novelis, Saint Gobain, Denso, Cox Automotive, Sona Comstar and others.

With a strong focus on technology and entrepreneurship, Drive TLV offers startups access to mentorship, networking opportunities, and investment support.

DriveTLV leverages its experience to help startups adapt to the needs of its corporate partners while teaching corporations to integrate breakthrough innovation.

Through its strategic location in the heart of Israel’s vibrant startup ecosystem, Drive TLV serves as a catalyst for innovation, driving forward the development of groundbreaking technologies that are reshaping the future of mobility and transportation.

• Location: Tel Aviv, Israel
• Focus: Drone, Aviation, Shared Economy, Energy, Autonomous Vehicle, Smart City, Insurance, Logistics, Communication
• Key Venture Names: Hailo, CorrActions, Foretellix, UVeye
• Type of Support Available for Outside Startups: Mentorship, access to Drive TLV’s network and resources, potential investment opportunities
• Site URL: Drive TLV

ZX Ventures by AB InBev

ZX Ventures is the global innovation and venture capital arm of AB InBev, the world’s leading brewer. It supports startups and entrepreneurs developing innovative technologies and solutions in areas such as beer, beverages, and consumer goods.

ZX Ventures partners with devoted founders and builds ventures that allow them to meet the needs of tomorrow. ZX Ventures both accelerates and invests through different funds. It invests ahead of the curve: seeding, launching, and scaling new products that deliver exceptional consumer experiences and bring (more) people together.

• Location: New York City, USA
• Established Year: N/A
• Focus: Sustainability, E-Commerce, Beverage, Direct to consumer, Circular Ventures, Future of Socializing and Agile Industry
• Key Ventures/ Products: Beer Hawk, BioBrew, Hocus Pocus, Jamaica Rum Vibes, Black Crown, Goose Island
• Type of Support Available for Outside Startups: Mentorship, access to AB InBev’s expertise and network, potential investment opportunities
• Site URL: ZX Ventures by AB InBev

These corporate accelerator programs demonstrate how companies across various industries are leveraging innovation and entrepreneurship to drive growth, foster collaboration, and stay competitive in today’s rapidly evolving business landscape. Through these accelerator programs, startups and entrepreneurs receive funding, mentorship, and access to resources and expertise to help them succeed and bring their ideas to market.

StartupGuru Team

From the content team at StartupGuru Venture Advisors.

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