Programmes designed for growth

Incubator

£103,000

A startup incubator is a collaborative program designed to help new startups succeed. Incubators help entrepreneurs solve some of the problems commonly associated with running a startup by providing workspace, seed funding, mentoring, and training.

OPERATION

It can be run by non-profit or public organisations and is usually associated with university/business school.

TARGET They are generally targeting local entrepreneurs who are looking to create and build a business; no specific theme or sector is targeted

TIMELINE

Programs can last a defined time, six months - 2 years, and all services and facilities are provided.

£5,000

PRE ACCELERATOR ACCELERATOR COST PURPOSE / OFFER

£250,000 - £300,000

Pre accelerators act as an early stage sourcing model to identify potential businesses ready to move to accelerator with a specific business idea that can be built and validated through discussion.

Accelerators follow a predetermined operation playbook to fast-track a business to investment and funding. Over the course duration, it looks to iterate and evolve businesses through the engagement of mentors and alumni. Due to mentors and reputation, they will have access to funding and investment networks.

Generally run by an accelerator's programme team, it will test fit and filter the opportunities for the accelerator.

Explores the local ecosystem for target businesses, subject to sector focus of programme.

Operated by a dedicated team of programme directors and start-up leads, the programme runs over a set period and follows a structured process.

Programmes are aligned around particular sectors and can be specific or wide-ranging. Businesses can be local / national / international

Usually, a weekly 6-week meet-up for businesses to register and come for advice, with the iteration of ideas on a group basis.

Most programmes run for 3 months, intensive on site ( virtual is now operating hybrid), with a follow on office space support.

Structure

Programs are lightly structured, so monitoring and tracking success can be challenging

Structured through calls for early stage attend who have an interest in accelerator potential

Well-structured programmes and cohorts are expected to attend all events and days organised by the team