Inno-dictionary: “Incubators" & "Accelerators”
“Incubators" & "Accelerators”
Incubators are organisations which help startups to overcome business challenges and achieve stable development by providing various assistance including mentoring and co-working spaces.
Accelerators refer to programmes that aim at assisting startups to achieve rapid business growth. They would usually provide assistance such as funding support and workshops to help startups to connect with large enterprises and attract investments.
According to InvestHK’s 2021 Startup Survey, the total number of locations of co-working spaces, incubators and accelerators has doubled from 62 in 2017 to 124 in 2021 despite the challenges brought by the epidemic. For more information on incubation and acceleration programmes, please visit Startmeup.hk.
Source: Talent.gov.hk, Startmeup.hk
The “Inno-dictionary” series aims to facilitate startup newbies to understand the jargons related to entrepreneurship as well as innovation and technology.