Accelerator Program Design — Wharton School's Valentina Assenova

Accelerators can launch startups faster but only if they’re built right. What makes some programs drive real growth while others fall short?

This week’s VentureFuel Visionary is Valentina Assenova, the Edward B. and Shirley R. Shils Endowed Term Assistant Professor of Management at The Wharton School of the University of Pennsylvania.

Valentina is renowned for her insightful research on entrepreneurship and innovation, particularly in how cultural and societal factors influence entrepreneurial ecosystems around the world. She recently released a study titled “Exploring the Relationship Between Accelerator Program Design and Startup Performance.”

Episode Highlights

• Accelerator Design Matters – Valentina emphasizes that not all accelerator programs are equally effective. The design of the program — its structure and features — impacts startup success, from revenue growth to hiring and securing funding.
• Peer Cohorts Drive Value – The composition of a startup’s cohort within an accelerator is a major factor. Founders benefit significantly from being surrounded by experienced, knowledgeable peers, which enhances learning and networking.
• Knowledge-Building Activities Are Critical – Programs offering structured curricula and consultative feedback help founders make strategic decisions. It’s not just about advice but also meaningful insights that lead to actionable change.
• Program Duration Impacts Outcomes – Longer accelerator programs enable deeper mentorship and stronger peer relationships. Short-term formats, like demo-day-only models, often have a harder time delivering the same level of founder development.
• Multiple Metrics of Success – Valentina’s research goes beyond just funding rounds to assess startup success. She looks at metrics like hiring, revenue growth, and commercialization, highlighting the need for a more nuanced understanding of startup performance.