Launching an Innovation Accelerator Program

Illustration of three rockets launching into space.

A Fast Track to Startup Success

Accelerators often work because they can potentially de-risk innovation, allow for quick experimentation, and democratize the innovation process across the organization. A startup accelerator is often a mentor-based program that provides guidance, support and limited funding in exchange for equity.

To establish a successful corporate accelerator program, define clear goals and a specific scope, then scout for promising startups with a strong business plan, minimum viable products, and market potential.

Structure a program offering mentorship, education, funding, and network access, operating over a set period. Cultivate internal champions, clearly communicate offerings, and ensure the program aligns with corporate strategy to drive innovation and achieve desired outcomes.

Slicon Valley Bank, in its blog, “How do startup accelerators work?” breaks down the process of this type of venture. Accelerators typically accept only one to three percent of applicants, focusing on startups that show:

  • Strong teams: Founders with experience, cohesion and resilience.
  • Innovative concepts: Startups solving important problems with a clear market demand.
  • Competitive advantage: A unique product or service that stands out in the market.
  • Coachability: Founders who are receptive to feedback and guidance.
  • Market potential: Industries with high growth opportunities.

The goal, notes SVB, is that startup accelerators offer short-term programs that focus on mentors, networking and business development to help startups refine their business models, develop products and connect with investors through demo day presentations. In the meantime, the program can offer startups connections, business and management mentoring and a collaborative environment.

Evolving a Corporate Accelerator Program

During FEI25, Dakota Crow, VP/Head of Innovation Programs at U.S. Bank, held a session on “Establishing a Corporate Accelerator.” Crow shared his experience building a successful corporate accelerator program that focuses on discovering and developing both people and ideas within an organization.

The program evolved from a small internship to a comprehensive innovation ecosystem with multiple entry points, including bootcamps, incubators, and a speaker series that engage hundreds of employees annually. By democratizing innovation and providing structured frameworks, the accelerator has generated significant business value while creating a culture where innovation is accessible to everyone, not just an elite team.

Watch the above video or see the full analysis of the session in All Things Innovation’s Discussions section.

Taking a Startup to the Next Stage

A corporate accelerator program might start small and evolve over time. The program could eventually expand from an internship to one that includes speakers, crowdsourcing, boot camps, innovator residences and incubators, flash labs (sprints) and hackathons. Every program may be a little different in terms of implementation, frameworks and tools, culture building and other factors.

These programs are designed to help startups refine their product, connect with mentors and investors, and raise early-stage funding. Many accelerators offer seed capital, equity-free support, or valuable perks like office space and expert coaching.

A business accelerator program might be just what you need as an entrepreneur… and for corporations it might be just the right move to ignite innovation leadership and entrepreneurship within its ranks.

ProFellow’s “10 Startup Business Accelerator Programs,” details some of the top programs in the country and the resources they offer.

Video: “Establishing a Corporate Accelerator,” featuring Dakota Crow, VP/Head of Innovation Programs at U.S. Bank, courtesy of FEI25.

Reflections on Careers in Innovation

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This series delves into the pivotal moments that transformed professional paths in the past, present and future. Through these personal reflections, we aim to uncover the hidden connections between past experiences and future innovations, revealing how yesterday’s lessons become tomorrow’s breakthroughs. Their answers might just help shape your own innovation journey forward.

Women Making an Impact on Innovation

“One of the most defining choices in my career has been consistently taking on roles that pushed me beyond my comfort zone. Working in R&D, knowledge is often specialized—what works in one technology or category doesn’t overtly transfer onto another —this meant stepping into unfamiliar spaces, sometimes as an outsider, and challenging deeply rooted ways of thinking. These experiences taught me the value of vulnerability and the strength that comes from bringing a fresh lens. I discovered that innovation doesn’t always come from knowing the answers—it often comes from asking different questions. As I look to the next era of innovation, I carry with me the confidence that comes from embracing the unknown and the belief that real progress happens when we challenge ourselves and others.”  —Kristina Perlas, R&D Superiority COE Lead, The Clorox Company

“My thirteen years in the film industry became the unexpected foundation for my career in technology innovation. On set, I learned countless leadership and organizational skills, but more importantly, I developed the creative confidence to tackle problems I’d never encountered before, which is an essential trait for innovation work. Whether securing a decommissioned aircraft carrier for a Kleenex commercial or convincing an airport to reroute flights to reduce on set noise, these high-stakes, unconventional challenges taught me that seemingly impossible problems often have creative solutions, and that shaped my career.

What I carry forward from those experiences is relentless curiosity about how things work and what’s possible. Most breakthrough innovations come from understanding the deeper mechanics of why things function as they do, then finding ways to disrupt or transform them. When you’re challenging the status quo, you’ll inevitably face resistance and ambiguity. Without maintaining that heightened curiosity about the root causes of these obstacles, you’ll struggle to address them constructively—and your innovations won’t stick.” —Leslie Grandy, Lead Executive in Residence, University of Washington – Michael G. Foster School of Business

“When I think about what has shaped my career, I always come back to the role of great mentors. The best ones helped me see what was possible, challenged me to grow, pushed me beyond my comfort zone, and supported me through the moments when I doubted myself. What I carry forward is the responsibility to do the same for others. Supporting people in finding their voice, stretching their thinking, and believing in their potential creates a ripple effect with the ideas they bring into the world.” —Lisa Costello, VP, Innovation and Growth, Prologis

“One thing that has shaped my career is learning to be resilient in ambiguity. Working across geographies and industries, I’ve often had to step into unfamiliar contexts, adapt quickly, and find ways to contribute meaningfully. Each transition reinforced that ambiguity isn’t a barrier. Rather, it’s a space where new possibilities take shape.

Looking ahead, the one thing I carry into the next era of innovation is the belief that embracing uncertainty is itself a competency. The future will only become more unpredictable, and our ability to thrive will depend on how comfortable we are in navigating the unknown. One of the most human ways to build this competency is by getting better at asking questions. Because the right questions open up clarity, direction, and opportunity where none seem to exist.” —Prapti Jha, Innovation Strategist, We Speak Innovation

“It’s odd to say, but one of the most important things that shaped my career was winning on Jeopardy! when I was in my late twenties. Doing that gave me a very public validation that I was actually an intelligent person who could hold my own against anyone else. This affected my career not because I had done well on a game show; this affected my career because it gave me self-confidence at a young age, which then gave me the courage to speak up at work and to advance my own ideas without waiting for other people to give me permission. If I could wave a magic wand and change one thing for every young woman in the world, it would be to grant them all this self-confidence, and to wipe away all of the self-deprecation and feelings of impostorhood that too many women are burdened by, particularly at the start of their careers.

What I’m carrying with me into this next round of innovation is, as always, curiosity and the desire to learn, coupled with a relentless optimism and determination to take actions myself to make sure that these new technologies, whatever they are, develop in ways that are positive to humanity. One of my stated targets at work is to go through some kind of new technology training every month, so my ability/capacity to learn is something I’m literally measured against in my job, and to help drive new technologies into ways that serve humanity instead of destroying it. I’ve joined a couple of nonprofits that have that as their goals.” —Leslie Shannon, Head of Trend & Innovation Scouting, Nokia

“When I look at my career, one short conversation with a senior leader shaped everything. She told me: ‘Always think of yourself as an independent consultant, no matter what role you have or where you work. Each year ask: what new skills or experience could I charge more for?’ I later wrote about this in a column for All Things Innovation — Layoff-Proof Your Career: The Consultant Mindset. That perspective, which I call the Consultant Mindset, has guided me throughout my career. It shifted my locus of control inward, pushed me to refresh my skills every 12 months, and taught me to treat learning as a lifelong practice.

Looking to the next era of innovation, the one thing I’ll carry forward is that mindset. In our fast-changing fields, relevancy doesn’t come from degrees or titles; it comes from the skills and value you deliberately build each year. The Consultant Mindset provides confidence in uncertain times and creates opportunities where none existed. In short: control what you can, keep learning, and always increase the value you bring. That’s how I plan to thrive in the next era of innovation.”  —Gail Martino, Innovation Consultant, Leapfrog Advisory

“One thing that shaped me in my career was my fear of staying stagnant wherever I am. The moment I felt stagnant in my career with day-to-day work, where over a period of time I felt I wasn’t learning something new or not evolving, I would always look for ways to change that to something that makes me feel more curious and excited. Of course, there are going to be times where one might not know how to change that, but starting small towards a big change has always helped me spark that curiosity in me. That one thing that I carry with me to the next era of innovation is starting with something small, that feels different, new and creates excitement and change towards a bigger change that I’m aspiring towards. That change can be anything, for example, be it stepping into a new role at work, changing my methods to conduct work meetings or perhaps the way I talk and approach people.”  —Divya Harpalani, formerly Product Manager, B&H Photo

Video: “Leena Nair, Global CEO, Chanel,” courtesy of Stanford Graduate School of Business.

Beyond the Shelf: Inside Walmart’s Innovative Creator Studio

Behind the scenes of a multimedia studio, with background, lighting, camera.

It’s a bold play—not just attracting creators, but enabling them with pro-grade tools, studio space, and community programming. And for brands, especially in beauty and personal care, it’s a new kind of platform. One where commerce, creativity, and culture meet under one fluorescent-lit roof.

Inside Create-it Studios

Located near Nashville, the first Create-it Studios offers six fully equipped spaces:

  • Two podcast rooms with professional mics and soundproofing
  • Two audio studios, including one with a Dolby Atmos immersive setup
  • Two video suites for livestreams, tutorials, and short-form content

Studios are bookable by the hour (typically $50 to $100) and open to creators aged 16+. The space also offers workshops, school programs, and events like open mics and “Sample the Store” sessions, where creators turn the everyday Walmart environment into audio or video art.

It’s not a gimmick—it’s a professional-level content lab in the middle of a mass retailer.

Why Walmart, and Why Now?

Franklin was a smart first step. It’s near Nashville’s creative scene, full of musicians, podcasters, and influencers. But the real innovation is location. Walmart put a production studio in a store that sees thousands of people a day. Most retailers are shrinking in-store experiences but Walmart is turning them into platforms.

As Grammy-winning engineer Leslie Brathwaite said at the launch: “A lot of people who walk in and out of Walmart every day would never have had access to a space like this. Now, they do.”

What This Means for Brands

Whether you’re a heritage brand like Olay, a global powerhouse like L’Oréal, or a purpose-driven brand like Dove, Create-it Studios opens a new door: meet customers not just where they shop, but where they create.

1. Host Branded Beauty Experiences: Imagine L’Oréal leading a “Camera-Ready Skin” class or Dove hosting a self-confidence storytelling night. These aren’t ads—they’re meaningful, creator-led extensions of your brand purpose.

2. Support High-Quality UGC: UGC (user-generated content) is more powerful when it looks polished. Sponsor creators to shoot GRWM (Get Ready With Me) videos, product how-to’s, or skin-care tutorials in the studio. It’s authentic content with studio-grade production value.

3. Empower Local Creators: Dove could fund studio access for young creators aligned with its Real Beauty mission. Olay could spotlight women in STEM with a “Science of Skincare” residency. These programs aren’t just feel-good, they’re future-focused community building.

4. Turn Studio Content into Retail Storytelling: Use the studio to produce tutorials, product walk-throughs, or dermatologist Q&As. Then distribute that content via QR codes on shelves, product displays, or Walmart.com pages. The studio becomes your in-store content engine.

5. Stay Close to Culture—In Real Time: Walmart’s studio is a live focus group. Watch how Gen Z and Millennial creators talk about skincare, routines, ingredients, and self-image. Are they emphasizing clean formulas? Skin positivity? No-makeup makeup looks? Brands like Olay and L’Oréal can gain unfiltered insights by observing how culture is being created, not just reacting to it.

The Evolution of Retailtainment 2.0

Walmart’s Create-it Studios isn’t just a creative experiment—it’s a signal. It shows how retail spaces can evolve from transactional zones into creator-powered innovation ecosystems.

For personal care brands, the opportunity is clear: show up where real stories are being made. Someone might come in for shampoo and leave with a beautifully lit skincare tutorial.

Create-it Studios suggests that the next big brand moment might not come from an ad agency. It might come from inside a Walmart.

Welcome to Retailtainment 2.0.

Click here for more columns by Gail Martino; if you enjoy this content, please consider connecting with Gail Martino on LinkedIn.

Shining a Spotlight on Startups

A circuit board kind of shining and glowing with light.

Techstars is billed as a leading pre-seed venture capital firm, investing in a diverse, global pool of entrepreneurs and high-growth companies. Can you just tell the audience a little more about the company?

“Techstars at our core, we’re a venture capital investor,” says Kittredge. “We’re actually the most active pre-seed investor in the world. But we go far beyond capital and invest a lot of resources into the companies that we back. We run a thirteen-week program that all of our companies have to go through, in which we help them with the fundamentals of growth, match them with mentors, and then help them for the duration of their company, really find that product market fit and grow.”

The innovation community has a big emphasis on corporate innovation, new product development and so on, but also recognizes the innovations, creativity and partnerships that start-ups bring to the table. There’s strengths and weaknesses to every type of partnership, of course.

“Absolutely. I think what it really starts with is listening to the customer,” she says. “So having conversations with the end user about what the pain points are that they can build to help solve. And that’s a lot of the reason why we’re here at FEI today, is to listen to these consumers, in this case the corporations that are in attendance, to listen to what their needs are so that we can bring that back to Techstars, back to our start-ups, and help them build with that vision in that direction.”

Do you feel that corporations are looking for more open innovation growth nowadays? Perhaps in a partnership or collaboration, they can accomplish some sort of innovation or product development that they couldn’t accomplish directly in certain ways, and then maybe they have to bring in that partner?

“Partnership is fundamental to growth, especially at these earliest stages,” observes Kittredge. “They want to build with a partner in mind so that, again, they can fill that need and address the pain point directly. And it’s a quicker path to finding that product market fit that’s essential for start-ups at the earliest stages.”

The FEI Collective Intelligence Startup Competition features some innovative companies highlighting their AI-human intelligence product and service solutions. What does that mean to you and your organization?

“Collective intelligence for Techstars—our network, we call it the Techstars network. It’s a global network of mentors and experts across every stage, sector, industry imaginable,” she says. “To us, that’s the core of what we are. We, together, are much more than we are as individuals. So we help bring together that community so that we can put these resources into companies and help accelerate their growth far better than they would have been able to do on their own. And I think that this conference is really a testament to that power of a network, a community, and the fact that we are all better when we work together.”

More Startup Stories from FEI25

FEI25 Collective Intelligence Startup Competition

The FEI25 Collective Intelligence Startup Competition featured twelve innovative startups leveraging AI with human intelligence to solve critical business challenges. Chelsea Trengrove from Neoclease won the first prize of $25,000, while Roger Dias from Xtory took second place with $5,000. The competition showcased how collective intelligence can transform industries from healthcare to finance, with each founder demonstrating unique approaches to combining human expertise with AI capabilities.

Neoclease Levels Up Gene Editing with Winning Innovation Formula

Neoclease is taking genetic medicine to new heights with generative AI—and its use of AI is one of the reasons the company was the first-place winner of the FEI25 Collective Intelligence Startup Competition, held in May at the Front End of Innovation (FEI) conference. All Things Innovation recently spoke with Chelsea Trengrove, CEO and Cofounder, Neoclease, to discuss the company’s mission, its use of AI and its groundbreaking work in the gene editing and biotechnology fields.

Investing in Innovation

Playing cards showing royal flush, and with colorful poker chips.

At FEI25, All Things Innovation had the chance to sit down with Colin Scott, Senior Vice President, DownSelect at Innventure, to discuss the company’s own unique formula when it comes to research, development and bringing new ideas to market.

At the conference, Scott held the session, “Harvesting Innovation Through Collective Intelligence.” This session examined a systematic approach to evaluating and commercializing breakthrough technologies that have the potential to transform high-potential corporate R&D into market-ready companies. Innventure’s DownSelect analysis harnesses data-driven analysis to identify, evaluate, and access breakthrough technologies with $1B+ enterprise value potential across industries through multinational corporation R&D, channel partners, and innovation networks.

A Systematic Approach to Innovation

In an era where corporations invest billions annually in R&D, how do you identify which innovations are truly ready for harvest? Can you talk a little bit about Innventure’s systematic approach to technology evaluation?

“For us as a company, collective intelligence is really about being intentional and systematic about gathering a wide variety of perspectives as you’re trying to understand how to not only invent technology, but harvest the innovation as commercialization,” relates Scott. “It helps you really understand more about what the right decisions are, but also helps align everyone in your organization to be able to accomplish that harvesting of the innovation, and really aligning to that business growth strategy.”

Can you share more about Innventure and its innovation ecosystem process?

Scott says, “There’s no one organization that really has everything that’s required to fully capture all of the unrealized value that they have within their organization. It requires building an innovation ecosystem to fill any gaps. That’s what we think. We’re doing that at Innventure because many times companies build very novel technology solutions to meaningful strategic needs that they have that are felt widely in the industry, but for many very smart reasons they decided they’re not the right ones to commercialize that going forward.”

He continues, “For something that truly is game changing but might not be at the strategic core of a company, they would collaborate with us because what we do is we build companies to transform tomorrow. And what that means is we found, fund, operate, scale these companies built off of those transformative technology solutions to those significant unmet needs, but we do it in a way that collaborates with multinationals because they can really help us work together.”

It’s an interesting mix at Innventure—it seems to have both a startup mentality yet the experience of a corporation.

“We have the agility of startups and they have the stability and scale of multinationals so that together we’re able to really reduce risk and accelerate success for every company that we start, especially because they have an understanding of the market, the need, the customer, how that technology solution drives economic value, and ultimately they drive early adoption by being a first customer or channel to first customers,” says Scott.

Winning the Innovation Process

This kind of partnership seems to have a lot of benefits to it, including an accelerated innovation process. There’s a lot of challenges, but also opportunities with startups and venture capital. What do you bring to the table, say with the DownSelect process, that helps encourage this startup mentality?

“We think that we really bring a lot of pieces from many different parts of this ecosystem,” says Scott. “Maybe a little bit startup mentality, a little bit VC approach to funding and supporting, a little bit private equity for support and operation, but ultimately we are all of those things together. We focus in on DownSelect on trying to understand the opportunities that are really a best fit for our model to commercialize and scale. There are a lot of different paths to unlock unrealized value in in the company’s R&D portfolio. Only a small number of those things fit with our approach.”

He adds, “We don’t play the portfolio risk game because we don’t have fungible cash that we’re just distributing between different ideas. We’re investing ourselves because we’re the operator, we’re the builder. And our partners are investing a seed of a technology. Those things aren’t fungible. So we make sure that with DownSelect we understand what the things about that particular opportunity are that are most important, that are most critical for its success. And we define our strategy in a way that helps enable that. We understand what the critical risks are and we define our strategy so that we can manage that. And that’s what our system really does. It helps us figure out which games to play and how to play those games to win.”

Bringing Solutions to Customers

In terms of people or processes that drive innovation, your company seems to have really keyed in on partnerships and collaboration. What do you look for in terms of the innovation when you’re partnering with these companies or startups?

“We don’t focus on any particular industry or any particular type of technology,” says Scott. “What we really focus on are opportunities that have the potential to really be game changing. When you introduce a new technology solution to the market to an otherwise unmet need, you by definition change the market. It’s extremely important for us to be able to understand how the introduction of that solution is likely to change the market in a way that can drive new economic value. We focus on business-to-business companies specifically for that reason. Because as we understand how a technology solution brings economic value to the customer, we understand the strategy that’s required to execute on that. For us, what we focus on are the ways, the opportunities, that have the highest potential to create new economic value for customers in the market.”