Business incubators have received more attention as of late, thanks to their popularity in the tech and IT startup space of the Silicon Valley. While business incubators are popular for providing office space for businesses, they often offer a lot more than you might be aware of.
Much like venture capital firms, business incubators often provide services, such as business consulting to startups looking to scale. These business consulting services can come in many forms depending on the incubator program, but in almost all cases, they are ideal for start-ups.
Functions of Business Incubators
Business incubators go beyond traditional office space. Instead, they often offer services which support the management of new business through leadership and provide you with virtually all of the tools you want to be successful. All they typically ask in return is some equity in your company.
For this reason, business incubators are great for entrepreneurs looking for:
- Specialized services
- Administrative Support and Mentorship
- Skilled Labor
- Physical Office Space
- A Place for Networking
The Value of Business Incubators
For businesses in competitive spaces such as tech, media, or fashion, business incubators provide that additional support they need to be successful. Beyond this, it shows your creditors and customers that other people believe in your business.
Business incubators are probably most valuable for businesses trying to disrupt existing industries or create a new brand of product/services of their own. Between setting up a company structure to building out your patent, business incubators can provide that additional assistance and administrative support you need to focus on your business and be more successful.
How We Can Help Incubate Your Business
At Cloudshadow we use our venture resources model to bridge the gap between traditional venture capital firms and business incubators, by offering capital and access to unrivaled professionals services. If you are interested in learning how we can help your business, contact us today!