Business incubators are organizations designed to support the growth of new businesses, particularly startups. They provide resources such as office space, mentorship, and access to funding, helping entrepreneurs develop their ideas into viable companies. Incubators often focus on specific industries or sectors, offering tailored guidance and networking opportunities.
These programs typically last for a set period, during which startups receive training and support to refine their business models. By fostering innovation and collaboration, business incubators play a crucial role in the entrepreneurial ecosystem, contributing to economic development and job creation in their communities.