Business incubators are becoming increasingly popular and there are four main reasons for this — four things that determine forward-thinking entrepreneurs to join one.
Incubators offer businesses various physical and digital resources; they make available to them a multitude of relevant connections; they help entrepreneurs increase their company’s productivity; and, finally, joining an incubator saves time and money.
The combination of these four factors is what drives the multiplication of business incubators and their growing attractiveness for new businesses.
The Atlanta local government has joined forces with Georgia Tech and ten companies to set up a technology-focused accelerator program plus a $15-million venture fund.
The initiative, called Engage, will be oriented specifically towards providing new businesses across the U.S. with mentorship and market access advice.
Plans are to take on 48 startups during the first three years, with the first iteration of the program scheduled to start this spring.
India’s fifth largest private lender, YES Bank, has set up a business accelerator specifically targeting fintech companies.
The stated purpose of the enterprise, dubbed the YES FINTECH platform, is to stimulate innovation and then make it part of the bank’s client offering.
The lender has enlisted the cooperation of T-HUB, the biggest business incubator in India, Anthill Ventures, and fintech research firm LetsTalkPayments for the accelerator.
Business accelerators have multiplied significantly over the last decade and so has the number of businesses they take under their wing.
The quality of these businesses, however, has not moved in an upward direction. There are still a lot of mediocre enterprises, bound to fail at some point.
Training entrepreneurs to become better businesspeople and better innovators is the way to improve the quality of businesses that benefit from what accelerators have to offer.
Agile has become a buzzword but it has somehow remained “trapped” in an IT context, which, in reality, is no longer the case.
In an answer to a question on Quora, one Agile professional provides three not strictly IT examples of Agile applications: proposition design, product design, and product or system support.
Design sprints, growth hacking, and continuous delivery are all marked feature of Agile but they don’t necessarily have to be about coding — they could be about any other product or service.
Innovation has proved to be a particularly difficult challenge for large corporations because of their already established way of doing things and the often uncertain return prospects of an innovative idea.
The way to tackle the challenge is by, first, analyzing the innovation journey so far — what worked, what didn’t, and what the people involved in the journey thought about it.
Then, a look to the future is in order, setting goals and formulating specific return on investment expectations. Finally, a new set of priorities needs to be compiled, in accordance with the goals and expectations based on the analysis of the past.