Incubators, which are taking root across the world, offer startups guidance and resources. In essence, incubators are home to angel investors, venture capitalists and others who are able to mentor entrepreneurs. Many also offer tangible resources such as accounting assistance, office space and legal guidance. Having this business infrastructure in place allows the startup to focus on what matters most–the core business (and not the mundane, day-to-day administrative responsibilities).
Although incubators and accelerators both help businesses grow, incubators assist companies in their infancy, whereas accelerators guide organizations through future expansion and development.