Will every startup that joins an incubator come out valued at over $1 billion? Definitely not. It’s one thing for incubators to support founders when it’s smooth sailing, but how they help startups get through tough times is far more telling of how they operate.Īs with any program, incubators are what founders make of it. It’s also crucial to look at how an incubator has stepped up to help founders when the startup ecosystem gets rocky. When deciding on an incubator, you should be looking for discounts that translate directly to business savings-specifically discounted subscriptions for marketing, sales and customer service software, as they can be pricey for startups. For founders, this can mean exclusive perks and discounts from businesses. Incubators also often have affiliate partnerships with service providers eager to support tech founders.

Incubators often bear a sizable portion of the overhead operating costs, so startups can focus on putting their money where it really matters, like their product, service and salaries. You’d be surprised to know how much the cost of toilet paper for your office can add up, what Wi-FI costs, let alone the cost of rent. This is, of course, a delicate balance, so be sure to research what your time commitment to the program looks like and what the breakdown of startup development is to community functions. When founders have the means to disconnect-via social events, lunches, games and collaborative workspaces- they’re more likely to unplug and double down when it truly counts. By perfecting the balance between zen and hustle, incubators have created energetic, get-stuff-done environments.

The idea that founders won’t stand a chance unless they are suffering every minute of every day is a dated mindset. Making it as a startup takes grit and resilience, but if you don’t make time for yourself to turn off from time to time, you’ll burn out. While startup founders are relentlessly committed to the hustle, grinding it out daily can do more harm than good. What have they been able to accomplish since graduating? One step further, reach out to an alumni company directly to see if they would be able to connect with you to learn about their experience.Ī Harmonious Balance Between Business And Fun Incubators often have a proven track record of creating companies that have made it big, which makes it easier for a partner, angel investor or potential client to take a chance on you.īefore deciding on an incubator, research what the alumni community looks like. When you’re accepted into a credible incubator, you’re receiving a vetted stamp of approval. They are there to make you see your shortcomings and help you fix them. Remember that they’re not there to pump egos or whisper sweet nothings to you. So, how can you ensure you get the most out of your mentors? Go into every meeting with an open mind. Founders often struggle to take off their rose-colored glasses when it comes to thinking critically about their solutions and develop serious tunnel vision. Strong mentors can make a world of difference by providing expert advice. The ultimate secret weapon that all successful startup leaders possess is strong mentors. Global expansion? Hyperfocusing on a specific market? If you’re working in a very niche space where it’s all about who you know, an industry-specific incubator may be able to open new doors.

Plus, select incubator networks have global networks, which can be extremely useful for startups looking to tap into new markets.Īsk yourself what support you’re looking for. Incubators can specialize in different communities, whether it be industries, such as AI or health tech, or business functions, like sales and customer acquisition. It only takes one warm intro to lead to a pilot opportunity, strategic partnership or investment.Ĭhoosing the right incubator starts with looking at what the community has to offer. Often, the greater network has strong connections to venture capitalist groups, angel investors and corporations, all of which can be extremely beneficial.

Startup incubator