Incubators for startups
Q. What are the functions of incubators?
1) Mentoring organizations
2) Tax benefits provider
3) Skilled labor provider
4) Funding- Published on 11 Mar 16a. 1, 4
b. 1, 2, 4
c. 2, 3, 4
d. All of the above
ANSWER: 1, 4
- Incubators are an organization, platform or team of experienced professionals that helps startups settle during its early stages and often provides mentoring, guidance, co-working space and also at times some funding.
- Incubators can provide technical expertise but does not deal with provision of skilled labor. They may help or guide in recruitment but themselves do not provide skilled professionals. In fact, the skilled professionals within an incubator guide the startups.
- They also do not provide tax incentives.
- Incubators also help in providing idea validation and shared resource pools including technology which helps startup in faster realization of their idea.
