Abstract
Accelerators play an essential role in fostering regional development by offering various resources to entrepreneurs and their new ventures. Their services are critical for entrepreneurs in developing countries. However, the majority of the business incubator studies are concentrated on developed economies, while developing countries represent an under-researched domain. Scholars argue that research on accelerators and business incubators, in general, is not theoretical and mainly descriptive. Using the knowledge-based view and resource-based view theories, this study discusses how an accelerator based in Kazakhstan, a developing country in Central Asia, designs its programs. Then looking through the cognitive evaluation theory lens and comparing 13-month longitudinal data, it analyses how program design impacts talent retention. The study adds a theoretical perspective to the non-theoretical domain of accelerators and business incubators by emphasising the role of motivation in the retention of talent. It also theorises about the four main steps involved in the acceleration program design and discusses the critical factors that shape those steps in the context of emerging markets.