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Thread: What is a Business Incubator?

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    What is a Business Incubator?


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    Incubators are specialized companies, more precisely 'buildings', that help develop startups. You do this by providing various supporting facilities such as workspace, mentorship, and funding. Where the incubator will focus on providing the right assistance so that the startup can grow optimally.

    The scope of the startups that the incubator is working on is actually quite broad. But most people associate it with technology startups. Though there is also an incubator in agriculture in North Carolina and an incubator in the culinary field in New York. The incubator work process begins with a pre-incubation phase which involves selecting companies, incubation that focuses on guidance, and post-incubation which indicates that the company is 'independent'.

    The history of the incubator's origins can be traced back to 1959. Where Joseph L. Mancuso founded the first incubator named Batavia Industrial Center (BIC) in New York City. Initially, BIC would be leased to a single company, but halfway the building was leased to several companies with facilities in the form of business guidance.

    The incubator itself is different from the accelerator (business accelerator). Where an accelerator is a program designed to spur the growth of startup companies in a relatively short period of time. While the incubator is more about a physical building that will help startups grow their business.

    Types of incubators
    In general, there are four types of incubators in the world, namely:

    1. Government incubator: this is a type of incubator established and supported by the state. An example is the T-Hub in Telangga, India.

    2. University incubator: an incubator established by a university or other academic institution. The orientation of this type of incubator is usually non-profit. An example is the Lang Entrepreneurship Center at Columbia University.

    3. Corporate incubator: an incubator initiated by a corporation. The guidance and funding obtained are more comprehensive than the two previous incubators. For example, the Indigo Incubator from Telkom.

    4. Private incubator: an incubator established by angel investors or other private investors. For example Khosla Labs.

    Besides being divided in general terms, incubators can also be divided based on the industry or services the company offers. For example, a virtual business incubator that focuses on the online industry, there is also a kitchen incubator that focuses on culinary, medical incubators that focus on medical equipment, and so on.

    How do incubators support startups?

    There are at least five ways the incubator helps start-up companies, namely:


    a. Validation of ideas:
    whether the idea initiated by the startup founder can work well in the market or not. The incubator will provide various inputs so that the idea is feasible or even suggest the founder to look for another ideal.

    b. Mentoring support:
    Founders will be given various crucial guidance, starting from sales, marketing, product development, and so on.

    c. Co-working space:
    the main thing that differentiates an incubator from an accelerator. Where startup companies will be given an office with other startup founders. So they can share business ideas with each other.

    d. Resource support: the incubator will provide resource support such as technology and data to support startup development.

    e. Funding: as companies start to mature, incubators can provide funding or match them with interested investors.

    Incubator vs Accelerator: which is best?
    The answer depends on the current founder's position. If the founder already has a good team and has developed a product, the accelerator is the best choice. Because accelerators can accelerate the growth of their company. However, it takes extra effort to be able to win the competition which is usually used as an entry requirement.

    Conversely, if it is still an idea or is still in the development phase, then the incubator is the best answer. The reason is that founders will get various things that help them build their dream startup company. Not only that, startups will also get funding and guidance to become independent.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    MEANING OF A BUSINESS INCUBATOR

    A business incubator basically strikes as an organization which is engaged in the development of new businesses by making available for them certain operations which are important to their growth. A business incubator would not only help new businesses to grow, but on the long run it adds to the general value of the economy. When businesses are being able to develop, then there would be room for macro development to occur.


    The development and support provided to a start up business by a business incubator could include provision of capital, allocation of space and some other services related to the development of new businesses. The operation of a business incubator is directed towards encouraging more individuals and groups to engage in entrepreneurial activities and creation of new businesses. Directly or indirectly, business incubators help to reduce the level of unemployment within a society as more people are being able to secure jobs after business incubators might have provided enough help to sustain a new business.


    With the operation of business incubators around, new businesses are faced with lesser issues as most of the challenges they are usually being face with are being sorted out to allow their seamless functionality. Business incubators help to cut down the large cost associated with keeping a business in place by doing everything possible to help reduce the cost of business operations for new companies. They provide them with relevant materials and expertise which would make their business participation less demanding and more productive.


    Usually, a new company is supposed to remain under a business incubator for a couple of years after which it would migrate to a fully functional business which does not neccesarily require support from a business incubator. In other for an entrepreneur to be granted the support of a business incubator, his business must meet the requirements as stated by these business incubators, as only then would he be able to enjoy their services. Business incubators are quite selective with which business or company that they choose to work with and they would rather support an organization with future prospects.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Definition of a Business incubator

    A Business incubator can be defined as a tailor-made platform that provides advice, guidance and various forms of support for businesses in their initial phase. These includes teaching startups/entrepreneurs on how to deal with business matters in different industries. Business incubator platforms provides case studies to the beginners, in other to get a picture on how businesses are being manage.

    Importance of Business incubators

    Business incubators serve a great role in the corporate world. They are the inspiration of the newcomers in the corporate world. They deal with various factors of business such as business plan, management, resource allocation, client handling, and accomplishing goals, as well as propagate an entrepreneur to fall into something more productive and viable.


    Advantages of Business incubators

    - The investors such as Angels in the incubator may offer small tasks, grants to the startups to check them out.

    - The business incubators may provide direct clients to startups.

    - Business incubators can surround you with people who have a like mindset, making way for learning and rapid growth for startup businesses.

    - Business incubators provides coaching programs or education that is more personalized and focused on application on any industries.

    Disadvantages of Business incubators

    - A Business incubator which does not actively engaged in progressive tasks will end up with the startup or entrepreneur struggling with businesses to survive.

    - If a Business incubation facility doesn't have stages for growth, it would likely collapse the business within a short time frame.

    - Incubation can sometimes turn out to be the slow lingering death for startup businesses which doesn't have that capacity or boost, to survive the business world.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Business incubator definition
    There are so many small businesses that have the potential to develop thanks to the innovation and uniqueness of the products/services produced, but they have financial constraints because making good products/services does require initial capital and higher production costs. For that, entrepreneurs can ask for help from business incubators.

    A business incubator is a term used in the business field as a process to support small and medium-sized entrepreneurs who are still at the startup level by providing various kinds of assistance, especially initial capital. With the assistance provided by the business incubator, it is hoped that entrepreneurs can increase their production and sales potential to a higher level.


    Business incubator programs
    Business incubators are not solely focused on assisting in the form of injections of funds as capital for entrepreneurs to advance their business. There are lots of programs owned by business incubators that help startup entrepreneurs to cover all their shortcomings.

    The following are some of the programs that can be found at the business incubator:
    • Provision of initial capital.
    • Provide basic training on business in the field.
    • Provide a learning course about business from the ground up.
    • Train business people, especially in accounting and management, to be able to manage their finances better.
    • Provides helpful tips about the world of business at several well-known companies and how they keep things going.
    • Provide some concrete examples of how a company must continue to adapt to the economy for its business to survive and continue to grow.

    Business incubator vs accelerator: What's the difference?
    A business incubator is often associated with accelerator because it has a similar definition. However, in various ways, both a business incubator and an accelerator have many differences and emphases in helping startup entrepreneurs to start their business.

    Here are some important points contained in the accelerator:
    • The pressure exerted when assisting is higher.
    • Not too friendly for startup entrepreneurs who are true beginners.
    • Entrepreneurs will be educated and trained to be more logical and responsive to running a business.
    • Shown for entrepreneurs who are ready with all the high risks but want the potential for greater or equal profit.

    Business incubator example
    A business incubator can be an ordinary company that specializes in providing services and assistance for startup entrepreneurs. However, there is also a business incubator which is direct assistance from the government through a special agency and a budget from the government as well.

    Here's an example of how a business incubator works:

    The government in a country has a special program to boost the economy and GDP in that country by providing $ 1,000,000 in the state budget to be used as capital in helping small and medium entrepreneurs. The government can cooperate with companies that are specialized in business incubators and invite people to start a business individually rather than working with others, to improve welfare standards and better human resources.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    What is business incubator

    Starting up a business or refiguring an idea into a scalable business is not a easy task, hence, some individual and organization run a professional scheme to help aid business development. This is commonly refer to as business incubator or business start up. A business incubator is a company that focuses solely on helping new companies or businesses to develop by providing essential services such as management training, fund sourcing, accessing investors, mentorship, office setting up and the likes..
    A business incubators design it's organization operating framework to be free and low-cost, so the profitability is first guilded by social interest and interaction. However, they still make profit through rent, loan and grant.
    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, tends 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
    Importance of business incubators
    - Help in planning your business by turning your great idea into a great business.
    - Give you a wonderful launch of your Business.
    - Can also manage your business day-to-day operations.
    - Help grow your business by finding you new funding, locations, and customers when business is good and it's time to expand.
    In most cases you need to subscribe and register to the business incubators body but they are highly resourceful in starting and broadening your business.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    What is Incubator Business

    Incubator itself is a tool that works by heating objects that are inserted into it, this incubator is used, among others, to incubate eggs, heat babies born prematurely, and others. A business incubator is a company or an institution that has a program to foster and accelerate the development of a business through a series of trainings accompanied by various other supports for the success of the participants' businesses.


    How a Business Incubator Works

    Business incubators work by establishing partnerships between incubator institutions and individuals, companies, or startups, incubator organizations provide support to their partners whose support can be in the form of knowledge, training, guidance, capital, and various other facilities provided to partners so that partners able to manage the company well, have a solid management, good organizational system, professional financial management, so that the company or partner can survive and ultimately be able to gain profit and continue to develop its business.

    The support provided by business incubator organizations to partners includes:
    1. Help with capital.
    2. Providing partners with business network access to streamline their business.
    3. Provide business guidance and training.
    4. Helping partners develop good management.
    5. Provide management and accounting assistance.
    6. Helping partners find and develop their marketing strategies.
    7. Helping partners in matters related to regulations.

    There are stages that participants or partners of a business incubator must go through, the stages in a business incubator are:

    Pre-incubation
    This is the initial stage of a business incubator, at this stage the business incubator participants are collected and then selected, this process also involves the process of education, training, simulation, technology training, management, and others, after these various educational and training processes then the business incubator participants are selected, who pass the selection to the next stage.
    Incubation
    Participants in the pre-incubation stage who pass the selection enter the incubation stage, at this stage the participants receive special assistance from the business incubator, they are given assistance in technology, management and processing, they are assisted to access the market and receive financing facilities.
    Post-incubation
    This stage is the final stage where participants are considered able to stand on their own and develop independently, the business incubator still provides assistance and solutions if needed.

    Purpose of Business Incubators Business

    incubators have the main objective of helping their partners to be successful in their business, to achieve this goal business incubators provide various assistance to partners so that partners can stay in their business and even develop their business, besides that business incubators also have various other goals among others, to unlock the potential for developing small and medium-sized businesses to become large, supporting funding for startup companies that need capital in the early phases of their birth, and others.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    What is a Business Incubator?

    A business Incubator is is an organization that encourages the improvement of new business or organizations and by offering different types of assistance and assets to such organizations.

    Business Incubator offers services to new businesses like expert advisors, mentorship programs, administrative support, office equipment, training, help them to sought investment.
    Business incubators are usually created as a partnership between different organization

    There are several types of business incubators, as they are specialized in a different field, so they provide services to business in line with their

    • Example of business Incubator includes
    • Education
    • FinTech (financial technology)
    • Ceramics
    • Green technology
    • Homeland security
    • Fashion
    • Food

    • Advantage of business Incubator in details

    Mentorship and advice.
    This service allows a new business to get more experience or close the gap between their business and the successful business.

    They also proffered Business connections which helps a new business in terms of connection needed, such as financial experts or analyst.

    They help in business operation and management with their top-class experience and this advice really can be a quickly develop a business.

    • Help new business Save money

    In some ways, the business incubators company help new business money, most especially money they would have spent on factor such as marketing, accounting, and also humans resources. And the money that could have gone wasted due to lack of experience in the business.

    Incubators only help a business founder out only when they review the business when they see it as a viable business and then they set them on the right path.

    The business incubators can use one to two years in a business, either by taking fees or by taking equity in such business.
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    Definition of Business Incubator:

    A Business Incubator is a kind of company that will provide different kinds of help for a new startup/new company. Such as, You have a new company for IT work, and now you have nothing but the Business Incubator will provide you with some special guidelines to develop your business. The Business Incubator will provide some services such as customer service, managerial trading, office space, decoration, etc. In short, Business Incubator is a kind of organization which is made to accelerate the growth of a new company. The company will provide all kinds of resources to develop a newborn company by providing workspace, training, education, mentorship, etc. Both parties are committed to sharing the percentage of profits or the fixed amount at the end of the month.


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    The Importance of Business Incubator:


    Usually, the Business Incubators work for a startup company whereas a new company doesn't have the proper idea about the business, but the Business Incubator will share some brilliant ideas which will bring a huge scope to grow the startup company. Before I have mentioned that the new company authority won't have a better management team. And they will play an important role for the new company for proper planning, the utilization of the investment, managing the team etc. There are different kinds of Business incubators in the financial world that target based Business incubators who are are making aim to fill up the target with limited time and budget. And such business growth will be more potent than other startup businesses at all.


    Pros & Cons of Business Incubator:


    Pros, this system will save your office rent while the business incubator will provide you the workspace, and the learning and growth will be much better than the startup company. The Funding of the new company is the main challenge and a business incubator may manage your fund easily because they have a good network with the investors and overall the structural environment may help you to focus the business globally by the business incubator.


    Cons, the main problem is about the time commitment by the business incubator to develop a startup company, as well as there will be a tight schedule for everyone and there will be some limited access in some cases with the Business Incubator.


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