If you are looking to start or grow your business, then you might be thinking about using a business incubator. But what are they and what do they actually do? Are they the same as business accelerators or different? Here we try and clarify some of this growing area of business development.
Businesses incubators are usually physical spaces, available on relatively flexible terms, which provide services to support start-up businesses
Both business incubators and accelerators help new and start-up companies through the early stages of growth. The difference between the two appears to be that whilst accelerators are geared more around funding, incubators are more focussed on providing a physical space where entrepreneurs can come together to work and learn. The rent that incubators charge helps fund the services they provide.