IMHO as someone who participated in a lot of these non-equity corporate accelerators, both as a startup and as part of the technical teams supporting the initiatives (at two different companies), it’s primarily cheap PR for both the parent company and the startups. There are some perks like the product and service credits as well as the opportunity to network with relevant teams at ParentCo, but I find the experience hardly comparable to a more traditional accelerator like YC. It’s a question of incentives.

If your partner has the bandwidth, I would consider applying for the perks, but I would be mindful of getting distracted by things that don’t entail building product/solving the core problem and selling to clients.