A business incubator is a company that gives early-stage companies access to mentorship, investors and other support to help them get established.
They offer a variety of resources and services, so an entrepreneur must choose the right startup incubator carefully. Here are some points that can help you choose the right startup incubator.
1- Match the startup’s needs and incubator’s services
A problem well stated is half solved. Before applying for any program, ensure you find the best providers and what you are looking for and your needs.
2- Cost of program
Most incubation and acceleration programs charge startups for their services, especially if the startup is in its early stages. As a startup, you need to be sensitive about the costs, so knowing the fee or stock you will give away is a critical factor in selecting the fit incubator.
3- Incubator’s portfolio
The portfolio of an incubator can be your future picture in that program. It also allows you to connect with startup founders and have their feedback before joining their program.
4- Time frame
Not all founders have the same time to spend in an incubation program. Therefore, you should see your limitations and flexibility and choose an incubator with a fit time frame in both duration and curriculum.
5- Network of investors and mentors
One of the most valuable services that incubators deliver is mentorship and having access to a network of investors. Undeniably, a program with these options will add massive value to its startups.