If you have a startup project and you are looking for help to implement it, then it makes sense to consider incubator programs for startups.
What is an incubator program for startups?
An incubator helps launch a startup and develop it. The most common types of incubators are institutions such as universities, nonprofits, or other government agencies. The development of startups, especially technological ones, is practically impossible without the participation of business incubators.
Their responsibilities include providing projects with all the necessary resources for work. Incubators provide not only financial support but also a room for work, help of mentors, payment of necessary trips, etc. We selected the most famous world business incubators with which you can announce your project.
When startups fall under the care of an incubator program, they have the opportunity to improve their product and skills. They also have the help of mentors. Sometimes help is provided in exchange for a very small number of shares of a startup company. Investors in the early stages of startup development feel more comfortable when you are part of a startup incubator.
The main goal of the incubator is to help in solving the problems of a startup project, early financing, mentoring, training, and sometimes even a place to work for the further development of a startup.
Also, at the end of the incubator program, you are likely to receive an offer of assistance from investors. The incubator helps to reach the stage of development when investors feel more comfortable giving money to someone who was involved in a good incubator program.
Incubators are a great place to “polish” a startup project.
You probably analyzed your startup project, compared it with other startups. And now you understand what works and what doesn’t. Of course, such a study is very useful, but the incubator makes it even more thorough, objective and effective.
By participating in the startup incubator program, you have access to a personal mentor. You will have mentors and other startups who will help to objectively analyze your project, help improve your business plan and think out a further development strategy.
How to get under the care of an incubator? – Digital Agency London
It depends on the type of incubator. Sometimes it’s not easy. However, if it is an incubator offering workspace and Internet access, it will be easier for you to get into it. Analyze existing incubators in the place you are interested in. Then go through the application process. Do not neglect to provide all the necessary information, as the best incubators are often the most competitive.
USA: the cradle of the startup industry
In the United States, where startups appeared, a fairly large number of incubators work, the names of which are known throughout the world. Among the most significant are the following:
YCombinator is a legendary incubator founded by Paul Graham and directly involved in the development of companies such as Airbnb, Dropbox, Reddit, and many other projects. It is not surprising that a huge number of startups want to become part of the YCombinator program every year, but only 3% of the participants succeed.
If the selection is still successful, the team gets access not only to investments but also to the circle of leading mentors and entrepreneurs of the world. By the way, becoming lucky and getting into the incubation program is not so difficult, because YCombinator conducts campaigns from time to time that allows you to receive investments and help not only projects with ready MVPs or the first results on the market but also companies that are at the development stage ideas.
Houston Technology Center is an accelerator and incubator specializing in energy and nanotechnology. To date, HTC has 300 companies in its portfolio, among which there are headliner projects that create innovative technologies.
To become a member of the Houston Technology Center program, it is necessary, first of all, to develop a startup in a suitable field, fill out a questionnaire and wait for the results.
Techstars is one of the most successful business incubators and accelerators in the United States. According to the statistics on the site, only 10% of the companies Techstars invested in do not ultimately succeed, and the average investment in one company is about $ 3 million.
The incubator supports IT projects and has an extensive network of representative offices. To qualify, on the incubator’s site you need to select two Techstars offices in which your project team would like to work, as well as fill out a questionnaire.
Summarizing the services offered by incubators for startups, we have compiled a list of general offers:
- Business basics
- Establishing useful relationships, including with investors
- Financial help
- Direct access to loans
- Access to computer and internet
- Meet investors and venture capital
- Place in the office space and laboratory rooms
- Business Advice
- Legal services
- Team building