Support tools for entrepreneurs: Incubators, accelerators and coworking spaces

Help for entrepreneurs:

Incubators

Accelerators

Coworking spaces

To start a business, elements such as resources, people and advice are needed, among plenty others.

Is there a place where help for entrepreneurs can be found?

Incubators and accelerators can help

• boost your business.

• stimulate your growth as an entrepreneur, and that of your business.

But, what is the difference

between them?

An incubator provides support during the phase of generating business ideas and

during the business startup.

As far as mentors:

Accelerators provide them according to the

business needs in each phase.

Incubators provide them throughout the

development, for general support.

The accelerator’s program is shorter

(3 - 4 months), more intensive, and

specific to the growth of the

business.

Why are incubators important?

According to INBIA, incubators have helped generate:

● 49,000 business● 200,000 jobs● $15k millions in

earnings

The most relevant contributions of incubators:

● management of funds● making connections with

investors

Virtual incubators are available…

for those who don’t have physical access to one.

How about accelerators?

The first day of the program is dedicated to presenting projects to potential investors.

Direct connection between investors and entrepreneurs increases the possibility of success in obtaining

investment capital.

Things to consider about incubators and accelerators

Frequent meetings with mentors can act as a distractor.

Receiving many and varied opinions may cause confusion.

How about coworking spaces?

They are work spaces that provide:

● the autonomy of a freelancer

● the collaborative work of a corporation

● the amenities of an office

Their objective:

Facilitating collaborative work.

What are its advantages?

There is no competition or politics. Everyone works on their own project.

Personal work identity is strengthened as every member explains their project

and a greater personal interest towards it is developed.

There is always someone there to lend a hand. Helping out is a common

practice. This leads to more creativity and productivity.

Coworking spaces satisfy the need to stay connected with others.

What are the results of working

in coworking spaces?

71% of coworking people become more creative.

62% reports an improvement in productivity.

90% feels more confident in themselves and what they do.

70% reports feeling healthier than when working in a traditional office

environment.

Makerspaces

They are similar to coworking spaces, but differ in their main objective:

- For coworking spaces, it is interaction.

- For makerspaces, it is is building something.

Don’t work alone!

It has been proven that working in connection with others is better.

enhances being connected through its virtual community and

meetups, to keep and create work relationships.