​What is a business incubator and would you want to start your business this way

timer Asked: Nov 11th, 2015
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What is a business incubator and would you want to start your business this way? 

Please support your answer by showing the advantages and disadvantages.

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Tutor Answer

School: Rice University

Thank you for the opportunity to help you with your question!

Business incubators  are organizations geared toward speeding up the growth and success of startup and early stage companies. They’re often a good path to capital from angel investors, state governments, economic-development coalitions and other investors.

It would be a better opportunity to start up my business with the help of incubators.Because as a startup I donot want to use the corporate leader and  actually build something of my own, spending upwards of $200,000 and two years without pay is just about the worst way to go about it.

Using the incubator will actually save my lots of money and now  a new breed of incubator, catering mainly to technology types, is springing up all over the country. These start up hubs offer expert mentor ship, resources like office space and legal counsel, and even seed money—typically in exchange for a small amount of equity in tiny (or theoretical) companies. In short I would be getting all sort of help needed to speed up the growth of my company.

Although there are disadvantages like constant mentor ship and networking with entrepreneurs can damage my focus in the very crucial stage but as a whole I can say that business incubators are a very good source if I want to start my business considering the time value of money.


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