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What is a business incubator?

In the world of innovation, a business incubator is a structure that intervenes in the creation of a company. In the process of realizing a project, the future entrepreneur will be accompanied by professionals and experts. There are different types of incubators depending on several parameters.

Incubators: what do they offer?

The main mission of incubators is to accompany a project leader in the creation of his company. To do this, they can use different approaches. It can start with sharing experiences. Incubators can host several start-ups, which makes it possible to share difficulties, successes and questions with those who are in the same context. Of course, incubators can also provide advice and follow-up through specialists in your sector of activity. They can also put the project owner in touch with accountants, bankers and lawyers. The general objective is to establish partnerships and succeed in raising funds to start the activity. Incubators can also provide logistical resources to project leaders. This can be meeting rooms, computer and office equipment and also premises.

The different types of incubators

You have to understand that incubators can come from different structures, starting with the Ministry of Higher Education and Research. This ministry, for instance, has 28 public incubators. Incubators can also be hosted by major engineering and business schools. Polytechnique, Centrale, HEC can offer incubation services. There are also incubators from the European Union. The latter has a center that welcomes innovative projects with open arms. Of course, there are incubators from companies that have a diversification strategy, industrial groups or local authorities. There are also incubators that play the role of gas pedal or accelerator for the creation of companies.

An incubator: who can join?

It is clear that incubators were created to support innovation. They accompany different innovation projects generally recognized by a research laboratory in the public sector. The big schools and European institutions show interest in service innovation with technological innovation. You must understand that each different incubator has its own specific admission criteria. Applications are studied by a committee composed of patrons, entrepreneurs, bankers, etc. Therefore, the candidate will have to prepare a file in good and due form to succeed in convincing this committee whose members come from very diverse sectors.

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