Incubators, which are taking root across the world, offer startups guidance and resources. In essence, incubators are home to angel investors, venture capitalists and others who are able to mentor entrepreneurs. Many also offer tangible resources such as accounting assistance, office space and legal guidance. Having this business infrastructure in place allows the startup to focus on what matters most–the core business (and not the mundane, day-to-day administrative responsibilities).
Although incubators and accelerators both help businesses grow, incubators assist companies in their infancy, whereas accelerators guide organizations through future expansion and development.
One of the biggest benefits of being part of our incubator is the ability to tap into a strong network of business partners. Some require large financial commitments, while others considered it too risky to work with a 1-month-old startup. However, those obstacles be bridged by being a part of an incubator.
A powerhouse network can also be beneficial from a public relations perspective. There is only so much you can do as a startup with a limited marketing and PR budget, but being a part of our incubation will help you gain traction, thurst and step into the spotlight. This in turn will also strengthen your ability to scout leads and opportunities.
As a electronics incubator, it is important for us to frequently release new hardware and optimization capabilities. It’s even more important that we learn from startups feedback to make platform better. Our Incubation program proves to be extremely beneficial to do more aggressive product development and rigorous testing–something that would have been more difficult and time consuming
As any entrepreneur will attest, there are a lot of lessons that he or she has learned the hard way. Making errors and learning from mistakes is something startup founders own. However, imagine being part of a support system where you could learn from the mistakes of others before you made them yourself.
Our mentors have been entrepreneurs themselves, as such have been able to challenge and further help shape our vision, strategy and roadmap thanks to their personal experience. The value that our mentors have brought for our startups has been instrumental to our success and we look forward to helping other new startups succeed in the future.