What do you mean by "incubator" approach?
Incubators are designed to accelerate the successful development of ideas through an array of support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts. In the business sector, successful completion of an incubation program increases the likelihood that a start-up company will stay in business for the long term: Historically, 87% of incubator graduates stay in business.Common incubator services include:
- Help with business and nonprofit basics
- Networking assistance
- Assistance identifying supporters
- Marketing assistance
- Information on strategic partners
- Advisory boards and mentors
- Technology assistance
- Help with regulatory compliance
Unlike many nonprofit assistance programs, incubators do not serve any and all programs. Social entrepreneurs and advocates who wish to enter an incubation program must apply for admission.The amount of time a program spends in an incubation program can vary widely depending on a number of factors, including the type and scope of the program.