Business incubator definition
What is the definition of "business incubator"?
A business incubator is an entity organized to deliver support services to businesses during the start-up phase. The goal of the incubator is to help the founder(s) grow the business to a level where it can stand alone.
A business incubator may be a not-for-profit entity or a for-profit organization. It may provide a wide range of services including management and consulting assistance, office space and shared facilities, shared equipment, shared administrative services and other business support. By sharing the resources operating expenses are reduced for all incubator tenants.
A typical scenario would be for a start-up business to get the business established in no more than three years and then move out (graduate) to make room for more start-ups.
Business incubators are extremely valuable elements in the 21st century marketplace and every start-up should determine what incubator options are in their area.
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Related Categories: Business Planning, Business Start Up, Cash Managment, Entrepreneurship, Government Support, Management, Organization, Real Estate
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