Business incubator

A business incubator in business speak is a company that helps new and startup companies to develop by providing services such as management training or office space. Business incubators differ from research and technology parks in their dedication to startup and early-stage companies. Research and technology parks, on the other hand, tend to be large-scale projects that house everything from corporate, government or university labs to very small companies. Most research and technology parks do not offer business assistance services, which are the hallmark of a business incubation program. However, many research and technology parks house incubation programs .

Types of services

Since startup companies lack many resources, experience and networks, incubators provider services which helps them get through initial hurdles in starting up a business. These hurdles include space, funding, legal, accounting, computer services and other prerequisites to running the business. Among the most common incubator services are:

  • Help with business basics

  • Networking activities

  • Marketing assistance

  • Market Research

  • High-speed Internet access

  • Help with accounting/financial management

  • Access to bank loans, loan funds and guarantee programs

  • Help with presentation skills

  • Links to higher education resources

  • Links to strategic partners

  • Access to angel investors or venture capital

  • Comprehensive business training programs

  • Advisory boards and mentors

  • Management team identification

  • Help with business etiquette

  • Technology commercialization assistance

  • Help with regulatory compliance

  • Intellectual property management