What are Accelerators and Incubators
- Accelerators are organizations, typically Non-Profits, which provide Programs that help early-stage startups accelerate their business. Accelerator Programs require startups to apply and be accepted in order to receive their support. The Programs typically last 3 - 9 months, and cumulate in a "Demo Day" or "Pitch Day" where the startups pitch their business to investors in order to raise their first round of captial. Therefore, startups which are part of Accelerator Program have an increased chance of growing a successful business.
- Incubators are organizations which help to incubate a startup - providing co-working space, resources, and sometimes Programming, to help startups grow their business. Typically Incubators are home to startups who are a little further along in their process of starting-up, and may have already been part of an Accelerator Program. Often, Incubator spaces are also Non-Profits or operated in close collaboration with the local government in order to develop the economy of future businesses, jobs, and innovation.
See here to learn more. There are various ways that these communities (Accelerators and Incubators) come together, both in person and online.
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