What is an incubator

Nov 30, 2023

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Incubator is originally referred to the artificial incubation of poultry eggs, and later introduced into the economic field to become a new type of social and economic organization. Its function is to reduce the entrepreneurial risk and entrepreneurial cost of start-up enterprises, and improve the survival rate and success rate of enterprises by providing R&D, production and operation sites, shared facilities in communication, network and office, systematic training and consultation, policy, financing, legal and marketing support. The elements of a successful incubator are: shared space, shared services, incubation of enterprises, incubator managers, and preferential policies to support enterprises. The business incubator provides entrepreneurs with a good entrepreneurial environment and conditions, helps entrepreneurs to form inventions and achievements into commodities into the market as soon as possible, provides comprehensive services, helps emerging small enterprises grow rapidly and form a scale, and cultivates successful enterprises and entrepreneurs for the society.