business incubator
A business incubator is an organization designed to support the growth and development of new businesses, particularly startups. These incubators provide resources such as office space, mentorship, and access to funding, helping entrepreneurs turn their ideas into viable companies. They often focus on specific industries or sectors, offering tailored guidance to meet the unique challenges faced by those businesses.
Incubators typically operate for a set period, during which startups receive training and networking opportunities. By fostering innovation and collaboration, business incubators aim to increase the chances of success for emerging companies, contributing to economic growth and job creation in their communities.