How Do I Benefit ?
 

Typically, start up entrepreneurs face may face  many problems :

  • Lack of office space - they may have problems in locating a small place or the cost of renting an office may be too high. Operating from home is an option initially, but cannot be done for a prolonged period.
  • Lack of office services like fax, copier, secretarial support etc.
  • If you are a technical person, you would need help in commercial matters like making agreements, negotiating deals with customers etc., accounting and bookkeeping.
  • Valuable time may have to be spent on fulfilling regulatory requirements like obtaining licenses, permits etc.
  • Money for making the necessary investment in the business is always short.
  • Strategic advice of experienced entrepreneurs  and executives is not available
  • Business may seem too small and hence lack credibility. This may inhibit the growth of the company as attracting good employees, vendors and partners may become difficult.

Business incubators provide you comprehensive support in your their startup stages of development - helping you through the most difficult time of your business career. How do incubators do that? An incubator for businesses, just like an incubator for eggs or newborn infants, provides a safe, supportive, protective, and nurturing environment that promotes growth. It is also a dynamic center with continuing contact with fellow entrepreneurs. Business incubators typically provide spaces for businesses to operate, just at or slightly below market rates. They provide an array of services that nourish start-up entrepreneurs, such as business counseling, mentoring, help with access to essential services and to potential investors. Incubators can also furnish shared services allowing incubator residents to cooperate with one another and reduce costs; critical needs during the start-up phase of a company.

By joining an incubator the issues associated of managing the infrastructure, regulatory environment and the support services get taken care of. Some incubators also provide you with funding, with or without taking equity in your company. Also, you are able to network with the "movers and shakers" in your business through the programmes organised by the incubator.