Accelerators tend to multiply what founders bring in rather than level the field, a Strategic Management Journal study of 6,723 startups in 280 programmes across 147 countries suggests. This episode of Connectors Beacon is for accelerator, incubator and startup programme teams deciding how to design their next cohort.
Founders with extensive pre-entry knowledge grew revenue 188% on average one year after joining, four times the revenue growth of teams with low human capitalKnowledge complementarity, not knowledge compensation: the study found evidence that accelerators amplify what founders already know more than they fill gapsStructured, generalist programmes offer novice teams some, albeit limited, chances to build foundational skills, while experienced teams gain more from flexible, specialised supportDesigning for both: intake questions on pre-entry knowledge, multiple mentorship tracks, and assessment at the start and end of a programmeKnowledge at Wharton, Why Some Founders in Startup Accelerators Do Better Than Others (10 February 2026)Melody H. Chang and Valentina A. Assenova, Founders' pre-entry knowledge and the heterogeneous returns to accelerator participation, Strategic Management Journal 47(3) (published online 30 October 2025)Connectors Beacon is produced by The Brutally Honest Ecosystem for accelerator, incubator and startup programme teams.