If you have an idea for a new technology company, there are an increasing number of firms willing to trade you some start up cash for a slice of ownership, plus give you access to great business minds along the way. Actually, even if you do not have an idea for a new business, the start up incubator Y Combinator is still willing to give you a chance. The nation’s oldest incubator, which runs entrepreneur camps full of tech mentors and the possibility of seed money, has also been named the best by Forbes. Looking at the average profit made by businesses which different incubators have funded, the honor of being second-best went to TechStars, which runs camps in five different cities.
What’s the Big Idea?
Eight other start up incubators were considered notable for their success, including DreamIt Ventures and AngelPad, each offering a slightly different mix of money and mentors to help young tech companies get their sea legs. Given the brevity, cost effectiveness and mentoring provided by the entrepreneur camps, some are wondering if they aren’t better bets than MBAs for those looking to jump right into running their own company. Not only are incubators appearing in more cities across the country but they are looking to innovate in specific verticals, such as education.