Leveraging University Networks in University Powered Accelerators: Best Practices and Lessons Learned

Co-location tools of urban economic development, such as accelerators and incubators, can facilitate entrepreneurship. Of these tools, accelerators have proliferated in number and variety over the past couple of decades. However, growing evidence suggests that these programs are not equally effective, varying in form and function with disparate outcomes. Initial evidence indicates that the effectiveness of accelerators varies by entrepreneurial ecosystem features, such as density and university involvement. Current scholarship is limited, however, in that it doesn't provide an adequate explanation for why that is the case. This paper uses creative class theory to explain the distinct advantages of an accelerator powered by an urban, metropolitan research university. Among these advantages are the dense and diverse networks comprising urban research universities and the value each network participant contributes. In addition, we posit that amplifying these collective contributions is critical to startup success and the overall vitality of the entrepreneurial ecosystem within the region. We support our logic by profiling the best practices, design features, and lessons learned of an accelerator powered by a public, metropolitan research university serving as an anchor institution for the St. Louis region. [The citation of v34 n4 on the PDF is incorrect, this article appears in v34 n3.]