Although most people associate these programs with tech startups, most of them accept companies from a wide variety of verticals.
While both types of programs were popularized in startup hubs like Silicon Valley, nowadays they can be found all over the world. So, accelerators focus on scaling a business while incubators are often more focused on innovation. Accelerators “accelerate” growth of an existing company, while incubators “incubate” disruptive ideas with the hope of building out a business model and company. Let’s start by breaking down the goals of each of these types of programs. Still, the programs are different frameworks for startup success. Founders get help to quickly grow their business and they often better their chances of attracting a top venture capital (VC) firm to invest in their startup at a later point. SEE: Quick glossary: Startups (Tech Pro Research)Īccelerators and incubators both offer entrepreneurs good opportunities early on. However, there are a few key distinctions that first-time founders should be aware of if they are planning on signing up. The terms “accelerator” and “incubator” are often assumed to represent the same concept. Startup founders looking to start off on the right foot often turn to a startup accelerator or startup incubator for help.
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