Ep. 21 - Why (corporate) accelerators fail
Why (corporate) accelerators failIt is not a secret that most corporate (and not only corporate) accelerators do fail. Among the reasons (based on a recent study) being very transactional and taking equity. Intel Ignite, whose goal is to work with the best disruptors of the world (with a focus on early-stage deep tech startups), works differently. The acceleration program is built on a co-founder-as-a-service model. They act as co-founders without taking equity. “Startups are time-bound entities (they evolve very quickly), founders are not.” says Tzahi (Zack) Weisfeld. Intel Ignite aims at creating relationships with top notch founders.To make it work, you need:The right people running (serial entrepreneurs)The right corporate sponsorship (Ignite is supported by Greg Lavender, the EVP & Chief Technology Officer)“The atomic unit we work with is not the startup. It is the founder”And, at the end, it pays back to Intel in terms of strategic returns and cultural change.