A business incubator is an organization that helps startup companies develop by providing services like management training, office space, and access to funding. It is a support system for early-stage businesses. The goal is to help them survive the fragile first years.

Incubators differ from accelerators. Incubators are often longer, sometimes lasting years. They are less about rapid growth and more about nurturing. They may be run by universities, governments, or private organizations. Some focus on specific industries, like biotech or clean energy. They offer mentoring, legal advice, accounting help, and networking. Some provide physical space; others are virtual. Incubators usually take little or no equity. Their funding comes from grants, sponsors, or fees. The first incubator opened in Batavia, New York, in 1959. Since then, thousands have launched worldwide. Not every startup needs one. But for founders without connections or business experience, an incubator can be the difference between failure and traction.

What they provide

• Office space and facilities
• Mentoring and coaching
• Legal and financial advice
• Networking events
• Access to funding sources