ABSTRACT: This paper explores the creation and development of a focal accelerator by an Italian business university, investigating the factors that led the university to found its own accelerator and that guided its set up process in terms of choice of focal activities and governance structure, as well as the mechanisms through which it creates value for its internal and external ecosystem. Relying on an in-depth case study approach, we conducted several interviews with members of the accelerator, key university stakeholders and external partners. Our empirical evidence points to existence of both internal and external drivers that led to the emergence of the university accelerator. It also suggests that the operating and governance structures of the accelerator were thoughtfully chosen to allow to both leverage the internal strengths and resources of the university and to achieve the operational agility needed to effectively foster entrepreneurial endeavours. Finally, it reveals how by strategically orchestrating the relationships with internal and external partners a university accelerator can successfully balance the need of creating value for both the university and the broader ecosystem where operates.