Accelerators as Circular Ecosystem Facilitators: Heterogeneity and Resource-Based Value Drivers for Enterprises

Accelerators in the circular economy (CE) are more than matchmakers; they are resource orchestrators whose value depends on enterprise context. Drawing on the resource-based view (RBV), this paper analyzes intake and exit surveys from 37 startups and SMEs participating in a Southern Ontario agri-food CE accelerator in Canada, spanning four categories: Circular Agriculture, Consumer Goods from Upcycled Food, Circular Packaging Solutions, and Low Waste Food Retail. To capture differentiated value creation, we apply LDA topic modeling with TF-IDF validation and lexicon-based sentiment analysis to assess supports including training, mentorship, funding, and networking. Findings show clear category-specific heterogeneity. Circular Agriculture prioritizes training and funding; Consumer Goods from Upcycled Food emphasizes training; Low Waste Food Retail values funding most; and Circular Packaging emphasizes funding while training is largely absent. These distinct patterns align with each category’s supply-loop position and baseline resource endowments, validating the RBV’s central claim of heterogeneity in a CE setting. Robustness checks (TF-IDF overlap; document–topic probabilities) confirm results despite the modest sample size. The study’s findings imply that one-size-fits-all accelerator design is inadequate. Tailored support bundles matched to enterprise category enhance efficiency and outcomes, positioning accelerators not only as ecosystem facilitators but also as value distributors, extending RBV from firm-level advantage to ecosystem-level resource orchestration.