Ever wondered what the difference between a business incubator and accelerator ( not us! but the definition!)? Then carry on reading!
Say you are a tech entrepreneur, you have a great idea for a new product, you are a ace programmer and you know the market cold it still doesn’t mean your necessarily ready to start a business that is why so many start ups are seeking the services of something called an incubator.
An incubator can help a just getting started up company to find its footing. Costs are usually pretty low since rent is low or pretty much non-existent, resources are shared and most importantly there is experienced staff on hand which can offer things such as connections, guidance to help that company get to the next level.
Most incubators are set up as non-profits that are established by university’s or municipal authorities to boost local business. They may accept companies from all different backgrounds or they may specialise in a particular industry such as biotech or mobile technology.
Besides incubators there are accelerators which are very similar to incubators but instead of being run for non-profit, they take a equity stake in each company they host, the accelerators hopes that the dozens of companies that come through a couple will really catch on, ‘airbnb’ and ‘Dropbox’ are two such companies which came out of an accelerator.
Accelerator – London’s Business Incubator
If you are considering creating your own start-up than Accelerator is something you should take into consideration. Accelerator is a leading business incubator based in Shoreditch, London that provides business incubation for start-up and businesses. Accelerator is also part of London Metropolitan University and it runs start-up programmes for its students and alumni. Therefore if you are considering to start-up your own company or struggling with your company than your optimal choice should be to join us as we guarantee high chance of success.
Wojciech Buchacz, Accelerator Intern