Beyond screening: How accelerators can engage in expediting the sustainable impact of their portfolio companies

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Other units and institutes | D4 Julkaistu kehittämis- tai tutkimusraportti tai -selvitys
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2024

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Aalto University Executive Education - Aalto EE
Aalto University Executive Education - Aalto EE

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en

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212

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Aalto University Publication Series BUSINESS + ECONOMY, 6/2024

Abstract

Sustainable impact accelerators (SIAs) play a pivotal role in accelerating the growth of sustainable new ventures capable of generating substantial social and environmental benefits alongside financial returns. This thesis investigates the role of SIAs in expediting the growth and sustainable impact of early-stage new ventures. In particular, it explores key concepts of impact acceleration, identifies mechanisms employed by SIAs to accelerate impact, and introduces a theoretical model explaining how SIAs support the scaling of blended value creation. Through qualitative research, the study provides insights into how SIAs enhance the capabilities of new ventures, improve stakeholder communication, and ensure accountability for blending sustainable impact and commercial viability in value creation. Essay 1 utilizes a systematic literature review to explore the role of accelerators as innovation intermediaries, emphasizing their potential to foster growth and impact in new ventures, especially those with social or environmental goals. It examines various accelerator models, their mechanisms, and their effectiveness in enhancing venture success. Essay 2 investigates the role of accelerators in scaling the financial and non-financial value generation of new ventures, particularly in the context of climate technology. The study uses inductive qualitative research to draw data from eight new ventures in four different accelerator contexts to describe the processes underlying sustainable impact accelerators. Essay 3 pulls qualitative and quantitative data from 15 new ventures in a sustainable impact accelerator context to build a theoretical model that explains how sustainable impact accelerators contribute to hybridization and blended value creation in new ventures. Previous accelerator literature has primarily focused on describing SIAs and analyzing their capability to accelerate financial factors for cohort companies, such as equity investments and recruitments. My thesis takes a different stance by shedding light on the underlying process of sustainable impact acceleration. I find that an external innovation intermediary, such as a sustainable impact accelerator, can contribute to blending sustainable impact with commercial viability by moving beyond screening and actively engaging with the cohort companies.

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sustainable impact accelerator, blended value, impact acceleration, sustainable impact

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https://urn.fi/URN:ISBN:978-952-64-2136-0

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