By forming alliances with well-known businesses or incubators, new ventures can enter into fresh markets, client bases, and support networks. Incubators assist these ventures by providing tools to overcome initial challenges during their expansion phase, including guidance, workspace, connections, and financial support.
They may contribute a small amount of money in exchange for a 5-10% ownership share, with the duration of the incubation period spanning from a few months to a year, designed to get the startup ready for additional investment opportunities.
In case, there is no incubation programs in your vicinity, explore online options. The leading online incubators include Techstars and YCombinator. YCombinator, in particular, has successfully funded more than 4,000 startups, contributing to a total valuation of 600 billion dollars.
Similar to incubators, accelerator programs offer a wealth of resources but work with established companies instead of new ideas. These programs, which are privately financed by investors, corporations, or educational bodies such as SET, provide startups with the necessary financial resources, knowledge, training, and other support to facilitate their launch.
Consider both local and online platforms like Gust to discover accelerators. Although these programs offer a less intense environment, local accelerators may provide a more tailored support network.
