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Yeah, when the OPT runs out you need H-1B. However there's something called the Cap-Gap extension which extends your OPT until your H-1B begins.

I actually got an O-1 because my company got press and funding and I was able to use that as evidence of extraordinary talent .

Once the stem is over, you need to switch to the H1B. Also if you were born in Canada, Singapore, Chile, Australia, things are easier.

Im from India. I will have to go on an H1B, even if I apply for a green card (EB2), it will take me 5 years with the current queue.

You can use the OPT for this accelerator most likely, given it's related to your studies. What is your nationality?