Incubators are programmes or organisations that support founders and start-ups at a very early stage of their business development. Their aim is to guide young companies in establishing a viable business model and to increase their chances of success during the initial, often particularly challenging, stages of development.
Incubators provide a structured environment in which start-ups can access key resources, expertise and networks.
Typical support services provided by an incubator include:
- Mentoring from experienced entrepreneurs and experts
- Workshops and training courses
- Support with business model development
- Access to office space and infrastructure
- Networking with investors, companies and partners
- Support with market research and customer validation
- partial provision of start-up capital or grants
Incubators are often aimed at:
- Start-up teams in the idea phase
- science-based spin-offs
- technology-focused start-ups
- Companies in the early stages of product development
The benefits of taking part in an incubator programme include:
- faster development of the business idea
- Avoiding common start-up mistakes
- Access to relevant contacts and networks
- better preparation for funding rounds
- Early validation of the market and customer benefits
Unlike accelerator programmes, which are usually aimed at start-ups that have already been set up and are achieving initial market success, incubators often support companies before or immediately after they are set up.
For many start-ups, incubators represent an important first step towards fleshing out ideas, developing initial products and laying the foundations for sustainable growth.
innoWerft supports start-up founders on their journey from an idea to a successful business through coaching, access to networks, support for innovation and practical guidance in developing viable business models.