Startup Incubators are mainly for new entrepreneurs, a starting point for someone who says, “Hey, I’ve got a great idea!” Incubators mainly walk you through the process of developing your business idea to an actionable (and potentially viable) business plan. Needless to say, they
help entrepreneurs in the earliest stages of their development.
They provide access to workspace, mentoring, training, and in some cases, seed funding. Incubators come in a lot of different shapes. Some are mainly coworking spaces or open to anyone for a fee. Others only accept the best applicants for more formal programs which may include seed funding for at least some of those who successfully complete their program.
Most are not likely to offer more than $50k in seed funds, and likely less than $20k – if they offer any funding at all.