Benjamin Kuo is the founder of SoCalTech. You can read more of his posts here on Docstoc or read more about high tech news and information for Southern California at socaltech.com.
Transcribed article based on the video above.
There are a couple different ways people have been using to go from startup ideas to startup realities. Those are business incubators and business accelerators. The difference between incubators and accelerators are incubators are usually focused on office space, reduced rent, conference room, and accelerator is a program based on starting a company and building it to funding. Incubators don’t have a timeframe, most accelerators have a class, maybe three months, where they go through the steps. Incubators don’t generally give you an investment. Accelerator programs typically are putting investments into your company in terms of equity. The other part about the two that are sort of different is incubators may have resources but accelerators are very focused on mentoring and finding mentors to help you get your company started. So as you are looking at different ways to take your idea and make it a startup or real business, you may want to know the difference between the two.