Social business incubators have been proven to succeed. On average, start-ups are more successful when they've had the help of an incubator or similar organization.
According to the U.S. Small Business Administration, 66 percent of all good business ideas fail within two years due to a lack of human talent, public awareness and financial capital. Similarly, in 1997, the National Business Incubation Association did a study that proved that 87% of entrepreneurial companies that went through an incubation process stayed in business (and that's compared with 44% of all firms).
Of course the role(s) of social business incubators can vary from program to program and from entrepreneur to entrepreneur, but generally, its implementation is designed to speed up the development of start-ups so that they can find success in and through the management and contacts that the incubator has to offer. Interestingly, Ankur Capital (featured in this cluster) likes to differentiate itself trom traditional social business incubators and sees itself as more of a seed capital initiative.
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Comparison Set: 17 similar articles, including: creative business incubators, majority world tech incubators, and social innovation hubs.
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By: Tiana Reid - Published: Dec 20, 2011