New Accelerator Model Aims to Foster Startups Without Equity or Rent

A new wave of startup accelerators is gaining traction, providing support to fledgling companies without requiring equity or rent commitments. This approach is exemplified by several initiatives across the United States, each with unique characteristics and offerings designed to nurture tech innovation and entrepreneurship.

Grand Central Tech: A Hub for New York's Tech Sector

Grand Central Tech (GCT), founded by Charlie Bonello and Matt Harrigan, represents a distinct model of an accelerator in the heart of New York City. Located at 335 Madison Avenue, GCT opened its doors on June 16, with 15,000 square feet of space donated by Milstein Properties. The initiative is part of a broader ambition to establish a new tech hub in the city while supporting the growth of New York's tech sector.

The accelerator offers mentorship without providing direct funding, focusing instead on companies that demonstrate sustainable revenue potential. This year, GCT is hosting a 16-company class, underscoring its commitment to fostering a dynamic startup environment.

Google's AI First Accelerator: Nurturing AI Innovation

In another example of this trend, Google launched its AI First Accelerator in April 2024, emphasizing support for artificial intelligence startups. From over 1,600 applications, 20 startups were selected for the program, which is structured as a three-month, equity-free initiative. The first cohort was unveiled in August 2024, with 45% of the companies focused on agentic AI and 30% on multimodal AI applications.

Participants receive mentorship from Google experts and technical training through bootcamps, reflecting a robust effort to advance AI innovation without imposing financial burdens on the startups.

Catalyst Accelerator: Boosting Government Contracting in Oklahoma

Catalyst Accelerator, based in Colorado Springs, extends its reach to Oklahoma with a boot camp designed for startups seeking government contracting opportunities. In collaboration with the Oklahoma Cyber Innovation Institute (OCII), the program, held at The University of Tulsa from June 2-13, 2025, empowers six selected companies through an equity-free structure.

This initiative is part of a broader strategy to create a dynamic innovation ecosystem in Oklahoma, with a focus on nontraditional tech companies. The mentor-driven curriculum aims to provide business development support, fostering collaboration with local businesses and striving for a lasting national impact.

Nurturing a Collaborative Innovation Ecosystem

The Catalyst Accelerator emphasizes sectors such as NewSpace and the defense industry, leveraging the collaborative environment at Catalyst Campus. This approach is intended to position Oklahoma as a hub for cyber security and technology innovation, following the establishment of the Oklahoma Cyber Innovation Institute in 2023.

By focusing on building a supportive and collaborative ecosystem, these accelerators are contributing to the growth of tech sectors across various regions, offering valuable resources and mentorship without requiring startups to relinquish equity or pay rent. This model provides a promising pathway for sustainable growth and innovation in the tech industry.