An incubator is a dedicated space, either physical or virtual, that offers entrepreneurial training, mentorship, and business support to startups. Admission to an incubator is typically selective and occurs on a rolling basis. These incubators focus on helping early-stage companies grow by providing a range of resources and services, such as office space, technical facilities, and professional guidance. Companies generally pay a fee to participate in an incubator, where they stay for an open-ended duration, with the average stay lasting around two years. During this time, they receive peer support, advice on business and marketing strategies, and often initial financial assistance, before progressing to an accelerator or establishing their own premises.
An accelerator is a program that offers entrepreneurial training, mentoring, and business support through a time-limited, cohort-based learning experience, with a strong focus on rapid growth and securing seed funding. These programs can be conducted in physical spaces or virtually. Admission to accelerator programs is often highly competitive. Accelerator programs are of fixed duration, usually lasting between 3 to 6 months. They provide participants with access to office space, initial investment, training, networking opportunities, and guidance from experienced mentors. Participants also benefit from exposure to angel investor networks and potential funding opportunities. Fees for accelerator programs, if any, are typically linked to growth and may involve equity exchange, though this can vary depending on the specific program.
Elevator Dundee
Offers business advice, mentoring, and networking opportunities for startups and growing businesses in the creative, digital, and tech sectors.
TechCube Dundee
Provides workspace, mentorship, and resources for tech startups, helping them scale and succeed.
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