How to Choose an Incubator to Launch Your Business
A guide to help you figure out if you need a niche or accelerated incubator, whether you're a social entrepreneur or a food fad opportunist.
Let's say you've got this great idea for a business selling fermented tea, like the two ladies from Asheville, North Carolina, in the photo above. Maybe you know your oolong from your rooibos but you're not the best with Excel and your business plan isn't very developed. You might want to look around for a suitable small business incubator in your area. The New York Times has a handy four-part guide to figuring out the type of incubator that might be best for your needs.
Today, there are about 1,200 business incubators in the United States. Most cater to a variety of businesses, according to Linda Knopp, director of policy analysis and research at the National Business Incubation Association.
Supporting such programs, most of which operate as nonprofits, has become a staple for many local governments and universities seeking to attract and retain entrepreneurial talent.