University Startup Accelerators: Startup Launchpads or Vehicles for Entrepreneurial Learning?

Abstract

<jats:p> Over the past decade, universities have invested heavily in startup accelerator programs; however, their role in the university entrepreneurial ecosystem is ambiguous. Are university startup accelerators intended to educate or are they created to facilitate business starts and to contribute to regional economic development? In contrast, most private-sector startup accelerators serve a consistent and differentiated role in the entrepreneurial ecosystem—they provide programming and resources to startups to increase the probability of a return on investment. Understanding the role of university startup accelerators is an important precursor to evaluating their impact and whether or not the return is worth the considerable investment. In this study, we poll university accelerator directors to gain their perspective on the role(s) that university startup accelerators play and to identify how they are structured and operated. Our research reveals a fairly uniform structure and mode of operation. While facilitating business starts is a key role for some, it confirms education as the primary role for university startup accelerators. We outline appropriate means of assessing the learning that takes place in accelerator programs, offer insight into how these findings can help accelerator directors deliver on outcomes and demonstrate impact, and propose avenues for future research. </jats:p>

Exploring the Strategic Intent and Practices of University Accelerators: A Case of Australia

“…Just what constitutes the optimal design and process of successful UAs is an ongoing and emergent discussion [4,6,10,11,13,31]; hence, we provide an overview of the services associated with UAs, with contextual examples in parentheses: entrepreneurship education and training (value proposition, business model, lean startup, analytical tools and design thinking); mentorship; coworking space (laboratory and office space); tax and legal advice; startup networking (startup community events and regional entrepreneurial ecosystems); investor networking (VC, angels and funders); technology partner networking; international partner networking (global entrepreneurial ecosystems and supply chains and internationalization) and commercialization of innovation (intellectual property), to name but a few. Many studies have amplified UAs as entrepreneurship education [1,4,5], yet others regard UAs as vehicles for university startups [12,14,20]. Our opinion is that UAs require an all-inclusive approach to integration, yet aligned to the strategic intent and practices of the university ecosystem in which they operate.…”

“…University startup accelerators emerged about a decade ago, after the successful introduction of private sector accelerators close to two decades ago [1,6]. UAs also emerged as a result of the growth in regional entrepreneurial ecosystems, rise of the entrepreneurial university, advances in entrepreneurship education, and entrepreneurial education ecosystems.…”

“…University accelerators (UA) are a recent but rapidly growing phenomenon, and over the past decade, universities have invested heavily in startup accelerator programs [1,2]. These accelerators not only enhance the local entrepreneurial ecosystems in which they operate but significantly influence the competitiveness and influence of startups in regional development, employment, and prosperity [3].…”

“…Despite their rapid proliferation, this new organizational form is still emergent; yet, the findings of these studies have varied substantially, highlighting both positive and negative impacts on startups [4]. UAs are university space and ownership-specific limited-duration programs lasting roughly three to six months that help cohorts of university ecosystem-associated startup ventures with their entrepreneurial process and aspirations, providing access to resources, knowledge, and important networks [1,4,5].…”

Whither modern business incubation? Definitions, evolution, theory, and evaluation

“…within a region to avoid a mismatch with what the university can do. Studies of the use of student incubators and as pedagogy and experiential training for transforming innovative student projects into innovative ventures are on the rise (Metcalf et al 2020;Breznitz and Zhang 2019;Mian et al 2010). This potential must be tapped.…”