Understanding a new generation of accelerator programs: The Accelerator Programs for Analog Firm - APAFs

Abstract

After a comprehensive review of the literature on Incubators and Accelerators, we observe that new types of acceleration programs are emerging: The Accelerator Programs for Analog Firms (APAFs) or accelerator programs for non-internet oriented firms. In other words, acceleration programs for businesses in which the hardware component is fundamental, in which digital and analogue are combined to create unique products. Artigenous or Makers who exploit digital and traditional tools in order to propose innovative products to the market. These new accelerators possess a diversified revenue model, often focus on a specific vertical, integrate themselves more into the ecosystem, and work closely with governments and corporations. The challenge, however, is to understand their distinctive characteristics and profiles geared towards reinforcing business start-ups. How do accelerators for non-internet startup operate as a new generation incubation model and how do they differ from existing traditional accelerator programs? This inductive study investigates 5 accelerators across Europe, Asia and U.S.A and adopts a design lens to identify the APAFs main distinctive characteristics. We contribute to the incubation and acceleration literature by extending recognition of the heterogeneity of acceleration programs, by delineating the Accelerator Programs for Analog Firms as a distinctive incubation model. Finally, by considering the worldwide best practices we propose our APAF framework that allows companies to adapt to “The Third Industrial Revolution” and create new jobs.