Are you the CEO or CTO of a young startup? Do you have a great idea or plan, but do not know what the next step is? You’re in the right place! Today, we will tell you more about incubators, which may help you develop your company. So if you want to achieve success in running your startup, sit comfortably and take notes.
Incubators
In books, incubators are described as institutions that support creativity, the utilization of intellectual potential, knowledge, and skills. They are supposed to assist in creating solutions that may help companies develop their businesses. In reality, they support young entrepreneurs in running their own companies and entering the business world without necessarily starting a business
The main idea hiding behind incubators is a substantive and practical help for everyone interested in running a company. Their duty includes:
- Legal aid,
- Accounting assistance,
- Sharing workspace,
- Borrowing necessary equipment,
- Help in getting funding.
How does it work?
Working with incubators is easy. After signing the agreement with the right institution, the company becomes a separate department within it, and you work within it just as if you were running your own business.
It’s worth knowing that the incubator itself is a legal entity, and its data will be written on invoices and agreements. In return for utilizing their legal entity, the proprietor of the establishment will levy a fee. The exact amount varies based on the specific package but typically falls within the range of PLN 200-500.
For who are the incubators?
The idea of incubators is created for everyone who is starting their first business activity in the sector of small and medium-sized enterprises or has an idea for their first startup.
Before deciding on a specific incubator, it’s important to check if your company fits the criteria of the company. Some businesses that help startups or small enterprises have their own rules connected with collaboration with clients. The number of business incubators allows everyone to find the perfect one for their ideas!
However, this solution may not be suitable for everyone. Incubators are not recommended for activities that may require special permits or licenses.
The advantages of incubators
Incubators offer many advantages:
- Professional support: Access to qualified advisors who can assist you in running your business and completing all the formalities.
- Low costs of starting the company: The only cost is associated with payment to the incubator for the possibility of using their services.
- Access to resources: Workspace, equipment, conference rooms, and more.
- Additional possibilities: You can choose which type of help you want to avail. In addition to the basic support, an incubator may assist you with marketing or developing your idea.
- Increased success rate: Startups and early-stage companies face numerous challenges, and the failure rate can be high. Incubators significantly increase the likelihood of success by providing comprehensive support, resources, and guidance.
Despite these positive aspects, incubators also have drawbacks. The most significant one is the long decision time. Every document you need must first be directed to the assisting company, and only after approval will you receive it.
Choosing an incubator is a great option for anyone entering the business world and needing guidance in running a small company or startup. It’s also an excellent solution for people who don’t have enough money to start on their own. So, if you dream of starting your own business, don’t hesitate and let an incubator help you!
If you have any more questions or are looking for a company that can assist you in creating well-developed apps, please contact us! We’re here for you. Also, visit our website to learn more about Futurum Technology, and in your free time, listen to our podcast featuring other startup CEOs for inspiration!
Build a better future with us!