difference between business incubator and accelerator

The possibilities are endless, and these programs offer a huge opportunity to anyone involved. We’ve already seen huge business come from these accelerators such as Dropbox and Airbnb.

These accelerator programs come in all shapes and sizes, such as Y Combinator, Wayra and Techstars. Many accelerators come with stigma attached, that is if you are able to get onto an accelerator then you’re already generating some validation for your idea, which will immediately attract investors. It’s an opportunity to really learn the strategy behind an idea, and iron out any issues, but it’s also for those that really want to begin to build a network of individuals around them, be that non-executive directors, mentors, and employees, as well as building publicity around the company. Hitting the wall here is the downfall of many, as people lose sight of the vision, or the goal of the company that they’re trying to create.Īccelerators are time specific (normally 12 weeks) and tend to be focused on technology entrepreneurs, although some non-tech accelerators are beginning to pop-up all over. Lots of people are becoming lost in the world of entrepreneurship, and can find themselves getting stuck in a vicious cycle of trying to make money and then re-assessing before trying once again. Wantrepreneurs they are, those without an idea but simply aim to make lots of money).

Personally, I’m not a believer in the word entrepreneurship, due to some of the things that are associated, and that come with the term (i.e. I wanted to point out why I included quotation marks around the word entrepreneurship. That said, Incubators are a good way of moving a business from pre-startup into its start-up phase before acceleration, and will begin to introduce you into the world of ‘entrepreneurship’. However Incubators and Accelerators are often confused with the two words often being used inter-changeably, which can cause problems to those applying. It’s a good opportunity to find people that are interested in your idea, and some may potentially even become a late co-founder to the company. Incubators may be short-term (although not necessarily time-specific) programs where people with ideas can begin to really involve themselves in the market research, the analysis and the structure building of the idea that they want to ‘incubate’ as such. If you want to get to grips with understanding the start-up world, learn basic skills in marketing, business formation and strategy, then Bootcamps are a must to put you on the right path.

If you’ve never started a business before, and you think it might be something that you’re interested in, then this is for you.

These are a fantastic opportunity for someone with an idea, or with very little experience to get involved in learning what the process is to starting a business. Bootcamps are becoming more and more popular around the world, with Startup Weekend, Startup Bootcamp, and a wide range of others that are popping-up, including some backed by the likes of the European Union. A commonly asked question, but often confused, I’m going to break down the meaning behind these programs, and what you should expect to get out of them while you’re part of these opportunities. Firstly, you may notice that I’ve ordered the title, according to what stage your business or idea should be at when you approach one of these programs.

Difference between business incubator and accelerator