NORDIC INTENT CAMPUS
Penha De França, Goa
With the huge rise in the number of startups emerging in not just India, but Goa itself the need for accelerators and incubators are on the rise! For early-stage startups, accelerators and incubators offer great ways to grow their businesses. Before we get into how each of the two is helping start-ups and entrepreneurs grow, it’s important to know their differences.
As the name suggests, accelerators “accelerate” growth of an existing business, while incubators “incubate” artistic ideas with the hope of building a sustainable business model. In other words, accelerators focus on scaling a business while incubators are often more focused on innovation.
No matter how innovative a business idea may be, the first issue faced is mostly related to capital and how much of it should be invested or not. An accelerator offers a grant for a percentage of equity and provides the startup with mentoring, business training, strategy planning, funding, and so much more.
While Incubators are not capital providers, their main focus is on innovation and fostering the growth of a startup. An Incubator’s role begins from a point where most start-ups may not need capital, as much as basic physical infrastructure, mentorship, feedback, and course correction advice. A typical incubator would generally offer shared space in a co-working environment and month-to-month arrangements for payment for rental, utilities, etc.
Today, with over 90% of startups actually failing, incubators and accelerators are more than just four walls of the corporate start-up office. They help businesses to reach out, add value and contribute to the wider business ecosystem.
With the rapid growth of India, as well as Goa, becoming a start-up hub, the potential for incubators and accelerators and their role in providing mentorship to startup businesses is enormous! No matter at what stage your business is, considering attaching yourself to startup or incubator will definitely prove beneficial for the overall growth of the brand.
Looking for an accelerator to help you fasten the pace of your existing business or an incubator to help convert your entrepreneurial ideas into a viable business model? Nordic Intent has some of the best mentors to help you sky-rocket your ROI and convert your business idea into a high-paying job profile. To know more, book an appointment, or give us a call on +91-9765419976.
Your email address will not be published. Required fields are marked *