The majority of incubators are open to technology companies, with a smaller amount being open to all businesses. Within the majority there are many incubators for many different types of technology startups, either developing specific products in a field or because the startup is operated in a particular area such as life science, manufacturing or geospatial technology. Typically the best potential incubators for your business will the ones dedicated to startups in a specific area you operate. Generally speaking, incubators will offer services, including:
- Most business or startup incubators offer the same base services as the majority of serviced office or co-working spaces you might consider. These services include meeting rooms, workspace, catering, telephone lines, virtual office services and all the usual amenities.
- Where incubators tend to differ is through a focus on education and community, typically providing workshops for entrepreneurs across a range of different areas, finding mentors for young business leaders, offering access to investor networks, setting up pitching, organising community entrepreneurial events and more.
- In essence, your getting a serviced office in a slightly smaller building but with a lot more support from an educational and community point of view which can be significant support in helping you start or grow your company.
Startup incubators Vs. Business incubators Vs. Tech incubators
There’s much confusion usually when it comes to different incubator definitions and even accelerators. So, to clear up that confusion here’s the definitions we have used to sort this list.
- Startup incubators – For businesses starting, in a very early stage or who have yet to set up. These incubators typically provide free or subsidised space to these companies.
- Business incubators – For businesses at any stage from early to mid, these tend to specialise in more specific types of companies. These incubators typically charge commercial rates for membership or renting space.
- Tech incubator – A business or startup incubator purely focused on technology business; we do not use this term as most incubators focus on technology businesses.
The Cost of an Incubator Programme
Some incubators are entirely free; these are typically grant funded, government-run or both. The majority will charge you for desk/office space as with any regular office provider; some will also provide discounts through to younger business, watch out for these and do your research.
The actual cost will depend on the space you want and the location; for example; London incubator rental/membership prices are going to be very different from rates in Swansea.
