The pace of innovation intermediary research has accelerated in recent years, spurred on by new socio-economic models, digital technologies, the local and global challenges of population growth and environmental pressure. Research on innovation intermediaries is predicated on the idea that intermediaries act as a catalyst for innovation to address these changes and challenges. The development of innovation management practices toward openness and emerging socio-economic models have changed the roles and supporting activities of innovation intermediaries. Open innovation literature suggests that corporate accelerators are one way for corporations to access external sources of innovation as part of the ecosystem. The corporate accelerator is one of the available innovation intermediary types and provides a unique position that could support innovation for both worlds:corporations and start-up firms. But despite its importance, corporate accelerator program and its value creation to the corporate and start-ups remains poorly governed and understood.This research aims to examine the central role of the value model that a corporate accelerator as an innovation intermediary develops to manage and grow an innovation ecosystem and how value capture-related arrangements emerge in the design of corporate accelerator programmes. The emergent model defines the value creation potential for the start-ups and corporate, in this way shows how it is crucial in driving succesful open colloborative innovation inititatives as well as the orchestration role of innovation intermediaries. The mix-method research was applied to answer three interrelated research questions: 1) How does a corporate accelerator perform the orchestration roles of an innovation intermediary? 2) What is the value created for corporations through a corporate accelerator programme? 3) What is the value created for start-ups from participating in corporate accelerator programmes? A case study was the main method used to understand the functions, roles, process, and value creation of corporate accelerator program for corporations. The case study was conducted in an Indonesian corporate accelerator named Indigo Creative Nation (ICN). The program was developed by Telkom Indonesia; an Indonesian state-owned enterprise specialises in the telecommunications industry. Additionally, a survey was conducted to complement the result with information regarding value creation for start-ups.As a result: 1) a model of orchestration role that comprises: the functions, the roles, and the stage of corporate accelerator programme, and 2) a model of value creation of corporate accelerator that includes sources of value for the corporation and start-ups, were developed. This study contributes to the knowledge of innovation intermediary through the advancement of conceptual understanding of the orchestration role of innovation intermediary through corporate accelerator programme. This study also provided empirical insights into innovation intermediary practice that complements the considerable theorising reported in the literature.