What is a Business Incubator?
by Startacus Admin
What is a Business Incubator? Here's our little handy explainer to help you make sense of them!
When starting a business, there are some things that just can’t be overlooked. If you wish to start off on your own you’re going to need somewhere that you can call HQ until you get on your feet.
Working from home can save you money, but it won’t help your business grow and can ultimately be a lot less productive than being in a shared work enviornment.
To put it simply, an incubator is like a school for your business...
They are a great option for startups and small businesses who need a push forward for a lot of reasons. They can make it easier for you to gain exposure and possible angel investment or government support. You are normally provided with a selection of resources which are all aimed at helping you and your business on the road to success.
These services can be offered in a variety of different ways and although not all business incubators operate in the same way, they ultimately share the same goals. Their purpose is to nurture the growth of small and early-stage businesses. They do this by helping with the development of all sorts of aspects of an enterprise. Some Business Incubators may also specialise in one type of business sector - Science, health, IT, Tech and so on.
A business incubator will give you somewhere to work as well as providing you with access to an array of different services and mentoring from professionals. A typical incubator will be able to accommodate at least 15 small businesses, and over a period of 6 months to 3 years, you will hopefully use the full range of services and resources which are on offer to help sustain your business. It is very cost effective and will enable you to work on your business in an encouraging, supportive environment with like-minded people and fellow entrepreneurs. Time spent in a business incubator can vary and of course depends on the incubators own goals and targets - sometimes business incubators act very similar to business accelerators, which we will explain at a later date!
Working in a business incubator has a lot of benefits, including business mentoring, and training provision since many incubators are managed by local Small Business Centres / Universities or branded research facilities. As well as this, they may give you reduced rates on your office / desk rates and indeed there is often no short or long term lease / contract required, meaning that it’ll be a lot easier to relocate when you get the chance.
Overall, we think that if you have a fledgling business or startup that needs help getting off the ground, taking up shop in a business incubator may very well be a step in the right direction as you can use the resources and services, such as peer support and networking opportunities to your advantage and drive your business forward!
Interested in Business Incubators? You might want to read up on...
‘One Planet Ventures’ Enterprise Incubator programme - London
Slick Northern Ireland Creative Business Incubator set to Open - Northern Ireland
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
At one-day event Ideation NI Thon, students will get the chance to solve global and local sustainability, environmental, city and health problems.
The lowdown on how an Australian startup generated global sales for their innovative product, "weighted blankets"...
At 82% the UK takes 4th place in the list of countries being most ready for automation and robotics, whilst 30% of UK population’s jobs are at risk of automation.
Recent research by Starling bank shows that in 2019, women earned up to £12,319 less per year than their male colleagues of the same age and within the same industry
Brandtech group, You & Mr Jones, has invested in ethical video startup Good-Loop who have closed a US $1.6m seed funding round.
2019 saw celebrities contribute to start-up investments in record numbers, surpassing a previous spike in 2015.
If you’re feeling under pressure from creditors, here is a brief breakdown of what, in the UK, is considered aggression and harassment from creditors.
The Digital DNA Awards, held in partnership with MCS Group, celebrate the best tech talent, from companies of all sizes, excelling in the world of Digital and Tech and not just in NI...
According to analysis by the Centre for Entrepreneurs, business formations reached new record in 2019 with more than five new tech startups launching every hour...
InsurTech businesses take note! Lloyd’s Lab is back and they are seeking solutions that have the potential to create real commercial value for the Lloyd’s market.
Published on: 20th May 2015
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Ideation NI Thon at NI Science Festival sets out to solve global issues 17th Jan 2020 At one-day event Ideation NI Thon, students will get the chance to solve global and local sustainability, environmental, city and health problems.
- 2019 stats show that the gender pay gap continues 14th Jan 2020 Recent research by Starling bank shows that in 2019, women earned up to £12,319 less per year than their male colleagues of the same age and within the same industry
- Digital DNA Awards 2020 nominations now open 13th Jan 2020 The Digital DNA Awards, held in partnership with MCS Group, celebrate the best tech talent, from companies of all sizes, excelling in the world of Digital and Tech and not just in NI...
- Five new tech startups launched every hour in 2019 13th Jan 2020 According to analysis by the Centre for Entrepreneurs, business formations reached new record in 2019 with more than five new tech startups launching every hour...
