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='''Incubator Definitions'''=Introduction==

The objective of this project is to come up with an objective definition of a high-tech high-growth incubator. As such, this project is related to our efforts to [[Formulate baseline attributes]] of incubators. ==Working Definition== [[:Incubator Definition Based on a Review of Definitions in the Literature]] [[:Accelerator Definition Based on a Review of Definitions in the Literature]] [[:Hub Definition Based on a Review of Definitions in the Literature]] So far we are defining an U.S. tech incubator as follows:  #''Common Definition Type of Company Incubated:'' Focuses on the development of high-growth, for-profit tech firms#''VC-Backing:'' Some of its current or potential startups could raise venture capital in the future#''Affiliation:'' Is for-profit, non-profit, or affiliated with a corporation, academic institution, or the government (or some combination thereof) #''Location:'' Located in the US and has a physical premises #''Services:'' Provides workspace, mentorship, and other resources to support the companies' growth#''Duration:'' Startups do not all stay for the same fixed duration (though there may be a cap on duration) ''*'' This definition will be updated/modified as we determine other characteristics that we want to include!!! ==Characteristics Generally Used to Differentiate an Incubator from an Accelerator==#''Duration:'' Startups at an incubator generally do not all stay for the same fixed duration; Incubator does not have a fixed graduation date for its startups or has a program that lasts longer than one year #''Investment:'' Incubator does not invest directly in the company or take equity in its startups #''Cohorts:'' Incubatordoes not have limited-duration programs that ventures enter and exit in groups, known as cohorts or batches.[https://www.mitpressjournals.org/doi/pdf/10.1162/INOV_a_00184/ 1]#''Application Process:'' Generally has a less selective, competitive admissions process than an accelerator '''Sources:''' [[:Incubator Definition Based on a Review of Definitions in the Literature]] [[:Accelerator Definition Based on a Review of Definitions in the Literature]] [[:Hub Definition Based on a Review of Definitions in the Literature]] ==Entrepreneur.com's Definition of an Incubator== -An According to [https://www.entrepreneur.com/article/294798/ Entrepreneur.com's definition of an incubator generally ], this term refers to an organization with the following characteristics:

1. #''Purpose:'' supports Supports startups entering the beginning stages of building their company; #''Duration:'' Operates on a more open-ended timeline with a greater focus on the longevity of a startup than the speed of its growth; #''Application Process:'' Generally has a less selective, competitive admissions process than an accelerator; #''Resources:'' Provides firms with workspace, mentorship, and other resources to support the companies' growth;#''Investment in Startups:'' Generally does not take an equity stake in the companies they support.

4==TechRepublic. com's Definition of an Incubator== According to [https://www.techrepublic.com/article/accelerators-vs-incubators-what-startups-need-to-know/ TechRepublic.com'Resourcess definition of an incubator], this term refers to an organization with the following characteristics: #''Purpose:' Provides ' Matches companies with the best resources for them to be successful#''Duration:'' generally operates on a more open-ended timeline#''Organizational Support:'' can receive support from outside organizations including VC firms with workspace, mentorshipangel investors, government organizations, and corporations#''Market Area:'' can focus on a specific industry or incubate companies from broad industries#''Services:'' varied in nature, can include mentoring/business advice, connections to other resources;within community, and options to lease space month-to-month#''Environment:'' collaboration in a physical space, focus on co-working environment  ==Small Business Administration Definition of an Incubator==According to an academic paper titled, [https://www.sba.gov/sites/default/files/rs425-Innovation-Accelerators-Report-FINAL.pdf ''Innovation Accelerators: Defining Characteristics Among Startup Assistance Organizations''], written for the SBA, this term refers to an organization with the following characteristics (pg. 10):

#''Clients:'' varied client companies, can be from various industries#''Selection Process:'' has a competitive selection process, mostly from local community#''Duration:'' longer period of involvement with companies, can range between 1 and 5years#''Services:'' Access to management/consulting, intellectual property, and networks of entrepreneurs. Helps entrepreneurs develop skills for management and running a busineses#''Investment in Startups:'' Generally , does not take an equity stake and does not invest directly in the companies they support. company[[httpsFile://wwwVennDiagram.entrepreneurpng| frameless|Venn Diagram of incubators and accelerators]] Venn Diagram from pg.com/article/294798/ More information]14 shows overlap and distinct qualities of incubators and accelerators

1==National Business Incubation Association Definition of an Incubator==Based on the academic paper titled, [https://inbia.org/wp-content/uploads/2016/09/InBIA-Industry-Terms. pdf?x84587 ''Operational Definitions: Entrepreneurship Centers''], NBIA defines an incubator as follows:#''Investment:'' charge membership fees or monthly fees in exchange for office space and access to the incubator program services#''Services:''mentoring, training/education, networking opportunities within local community#'Sector'Application Process:'' Focuses companies apply and are selected based on accelerating the development of high-incubator's stated criteria/mission statement#''Graduation:'' incubators have stated graduation policies based on milestones, growthmetrics, foror time#''Duration:'' companies may join incubators on a rolling basis and can reside in incubator on a flexible timeline, typically 1-profit tech firms; 3 years

3. ==Definition of an Incubator from EDA Paper "Incubating Success"==''Location:This paper is from 2011 and may be outdated in classifying accelerators as a subcategory of incubators'' Located in the US; .

4The research paper [http://edaincubatortool.org/pdf/Master%20Report_FINALDownloadPDF.pdf ''Incubating Success. Incubation best practices that lead to successful new ventures''], with support from the U.S. Deparment of Commerce and the Economic Development Administration, categorizes an incubator using the following qualities:#''VCBusiness Model:'' incubators can be classified as one of the following categories (pg. 15) - physical building with on-Backingsite management, virtual, international, accelerator#''Industry Focus:'' Current incubators can be classified according to industry focus (pg. 17) as - manufacturing, mixed-use, technology, or potential VC funding service#''By Lead Organization:'' can classify incubators according to their affiliation with other organizations (pg. 21) - university/higher education, for its startups-profit, state, nation#''Key Services:'' successful incubators provide certain key services (pg.27) including:::* Assistance with Business Basics - accounting, presentation skills, business etiquette, marketing::* Legal assistance::* Access to Resources - capital, internet::* Networking - within the community, with other entrepreneurs