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This study explores the challenges for innovation induced by cognitive distance between start-ups and large corporations and the role of corporate accelerators in optimizing this distance, essential for developing new ideas. Based on an inductive approach focused on a case of collaboration between a large telecommunications group and six start-ups, we present a new understanding of the specific role of the accelerator in varying the cognitive distance between partners. We demonstrate that the accelerator activates cognitive and metacognitive mechanisms that can facilitate a balance between mutual understanding and the diversity of knowledge, ways of thinking, and approaches among partners to set the stage for innovation. We offer practical recommendations to the large corporation, the accelerator, and the start-ups to address the challenge of cognitive distance that separates them and thus foster mutually beneficial collaborations. JEL Codes: D21, L14, O32