To maintain a competitive advantage and adapt to the rapid changes in both the market and technology, organizations need to continuously innovate. As a result, internal corporate accelerators have been implemented as a means to internalize external innovation and promote corporate innovation. However, research on internal corporate accelerators is still limited, and there is a need for a more detailed analysis of the outcomes, considering both the positive and negative consequences of their implementation. In this article, we employ the action research methodology to define and implement an internal corporate accelerator within a software development company, encompassing its phases, selection criteria, and provided services. We also present the advantages and challenges of implementing this accelerator. The benefits encompass the stimulation of creativity and the evolution of knowledge, while the challenges are tied to participants’ time constraints and the limitation of exclusively virtual communication.