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Learn about 5 benefits of going to a business incubator and accelerator for your business

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55% of the Peruvian population works in their own business, according to Datum Internacional; however, when venturing out to launch their business, some often run into obstacles to getting their idea off the ground. Thus, there are institutions dedicated to guiding and supporting entrepreneurs to boost their businesses and achieve stability in the ecosystem.

“Incubators and accelerators are institutions that help businesses with financing, mentoring and design of strategies to achieve their permanence in the market. Although they have different objectives, they are necessary for entrepreneurs with few resources or experience”, says Norberto Hosaka, director of the Center for Entrepreneurship and Innovation at Universidad del Pacífico – Emprende UP.

Hosaka also adds that the difference between the two is that incubators serve startups that are still in development, while accelerators help businesses with a certain degree of maturity.

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In this line, the specialist details five benefits offered by these organizations for the development and permanence of enterprises:

1.- Strategic support:

One of the main benefits is to provide the necessary knowledge to promote business, providing practical assistance in accounting, financial, legal, marketing, trade, etc. In this way, the entrepreneurs would reduce errors during the execution of the plan and optimize the available resources.

2.- Specialized mentoring:

The incubators and accelerators adapt to the needs of each project they promote. Through personalized advice with specialists in business and innovation, entrepreneurs will have the opportunity to receive quality assistance allowing them to plan a business growth strategy and learn the necessary skills for business success.

3.- Financing:

This is one of the main concerns of entrepreneurs. These organizations provide advice on the type of entities from which financing can be requested or, in some cases, they offer it themselves. If successful, the business will have better access to venture capital, consultancy to apply for funds and other financing resources.

4.- Networking:

These organizations have direct access to the most appropriate marketing channels and can bring customers to companies. Besides, They have a network of contacts that allows the entrepreneur to share their experiences with other projects in their sector or establish collaborations.

5.- Access to international markets:

Through a specialized guide, entrepreneurs will be able to prepare the necessary conditions to operate in the international market. In this way, businesses access new markets in order to grow as a business and increase their income.

These types of programs seek to create companies that meet the needs of the market and manage to position themselves commercially, says Hosaka.

Source: Larepublica

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