What is the difference between incubator and accelerator?

What is the difference between incubator and accelerator?

At Bridge for Billions we believe that the difference between an incubator and accelerator is in the maturity level of the projects each works with. Incubators, like Bridge, mainly support early-stage startups whereas accelerators tend to focus on scaleups. While both options provide guidance and mentorship, the maturity of the project will alter the focus of the support it needs.

Incubators nurture startups through the beginning phases of their project. They provide mentorship that allows these start-ups to develop and prototype their product, carry out customer discovery, and to plan out their business structure. Incubators help businesses to set the foundations for their ventures.

Accelerators, on the other hand, focus on scale-ups, businesses which are at a later stage of development. These ventures have a strong foundation and are looking for greater business traction as well as seed investment.

At Bridge for Billions, we’re an incubator. We provide our early-stage entrepreneurs with the tools to develop a strong business plan, with or without prior business knowledge, while connecting them with personal mentors who share their knowledge and provide the support to help our entrepreneurs to succeed. We believe that no worthy idea should fail because of a lack of support, and our platform provides entrepreneurs with the necessary help to get their ideas off the ground.

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