incubator

Vocabulary Word

Definition

'Incubator' is a place or a program that helps small businesses, start-ups, or artists to grow by providing support like money, training, or space. Like how an egg incubator helps baby birds to develop and hatch!

Examples in Different Contexts

In the startup world, an 'incubator' is a program that helps new businesses grow by providing services like mentoring, office space, and networking opportunities. A startup founder might say, 'Joining an incubator gave us the resources and guidance we needed to launch our business successfully.'

Practice Scenarios

Business

Scenario:

We've seen some impressive growth in our first quarter. However, it might be worthwhile to look for additional resources and mentorship.

Response:

You're right. Perhaps joining an incubator program may provide us with the required mentorship and resources.

Tech

Scenario:

Our team has developed an innovative tech solution, but we're faced with some challenges around business strategy and funding.

Response:

I agree. An incubator might help address these challenges by offering guidance on business strategy and networking opportunities for funding.