All You Need to Know About Business Incubators

8. THE BUSINESS INCUBATOR BREAKDOWN

Definition: An organization designed to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services that could include physical space, capital, coaching, common services, and networking connections .

Business incubation programs are often sponsored by private companies or municipal entities and public institutions, such as colleges and universities. Their goal is to help create and grow young businesses by providing them with necessary support and financial and technical services.

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What Corporate Incubators and Accelerators Mean for Your Business

7. HOW IMPORTANT ARE CORPORATE INCUBATOR AND ACCELERATORS FOR YOUR BUSINESS

With a host of companies under his belt, serial entrepreneur Rich Schmelzer launched his latest company, Boulder, Colo.-based GeoPalz, pretty much the only way he knew how. He bootstrapped.

But then a funny thing happened: Schmelzer met the Swoosh.

Yes, that Swoosh–Nike. Schmelzer’s company makes the iBitz, a personal activity monitor for kids. And late last year, when Nike announced it was launching a special accelerator for startups developing high-tech solutions that could leverage the Nike+ platform, it was serendipity.

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