{"id":42492,"date":"2023-10-20T15:21:36","date_gmt":"2023-10-20T15:21:36","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/five-misconceptions-about-startup-incubators-startupsmart\/"},"modified":"2023-10-20T15:21:36","modified_gmt":"2023-10-20T15:21:36","slug":"five-misconceptions-about-startup-incubators-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/five-misconceptions-about-startup-incubators-startupsmart\/","title":{"rendered":"Five misconceptions about startup incubators – StartupSmart"},"content":{"rendered":"
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Startup incubators are cropping up all over the world, from Tel Aviv to Guatemala City. Recent estimates put the total number at around 7000, with more than 430 incubators located right here in Australia.<\/p>\n

 <\/p>\n

The startup community is hungry for the kind of support an incubator can provide – most commonly in the form of resources, mentorship and relationship building. Earlier this year more than 330 entrepreneurs from 120 companies applied for a spot within Stone and Chalk, Sydney\u2019s fintech hub, so there is certainly no shortage of demand.<\/p>\n

 <\/p>\n

Despite this and the seemingly supportive nature of incubators, they aren\u2019t without their critics. For the most part, concerns about incubators seem to stem from misconceptions in the market.<\/p>\n

 <\/p>\n

These misconceptions are potentially damaging for the startup community and there are five in particular that should be addressed:<\/p>\n

 <\/p>\n

Your IP is at risk<\/b><\/h2>\n

<\/b><\/p>\n

I hear this a lot and it\u2019s an interesting one. I can see how this would be a problem if two rivals were seated side-by-side in an open plan co-working space, but an incubator is different. Direct competitors are rarely accepted by the same incubator and in the case they were, those businesses would not be seated within earshot.<\/p>\n

 <\/p>\n

All that aside, an incubator is a supportive and collaborative space rather than a competitive one. Residents of Stone and Chalk regularly celebrate the success of their neighbours and often workshop ways to overcome common challenges together.<\/p>\n

 <\/p>\n

An incubator won\u2019t make you more successful<\/b><\/h2>\n

<\/b><\/p>\n

This is akin to saying a university education won\u2019t make you more successful. An individual can be a success without an education and a great idea can flourish outside of an incubator but that\u2019s not to say additional education or support aren\u2019t helpful.<\/p>\n

 <\/p>\n

Would companies like Airbnb or Dropbox be as successful without Y-Combinator? No one can say for sure, but I have no doubt both businesses gained something of value during the time spent there.<\/p>\n

 <\/p>\n

Entrepreneurs are prone to highs and lows<\/b><\/h2>\n

<\/b><\/p>\n

Getting a business off the ground is a challenge, highs and lows will always be part of the process. However, a recent study by the United Nations University found entrepreneurs are actually far more satisfied than those in regular employment.<\/p>\n

 <\/p>\n

At the end of the day, entrepreneurs are just normal people, albeit passionate ones, who can hold it together through good and bad times.<\/p>\n

 <\/p>\n

You\u2019re busy but don\u2019t get things done<\/b><\/h2>\n

<\/b><\/p>\n

Incubators will facilitate events, bring in guest speakers and offer to arrange meetings with potential investors but that doesn\u2019t mean residents have to say yes to everything.<\/p>\n

 <\/p>\n

An entrepreneur shouldn\u2019t be afraid to identify the opportunities that are right for their business and learn to say no to everything else. In fact, saying no to an opportunity often means saying yes to yourself and your business.<\/p>\n

 <\/p>\n

It\u2019s loud and there is no privacy<\/b><\/h2>\n

<\/b><\/p>\n

The word collaboration does tend to carry connotations of loud and impassioned debates but for the most part collaborations are happening in a quiet and considerate manner. An incubator is communal and productive rather than loud and unruly.<\/p>\n

 <\/p>\n

And as for the lack of privacy, residents weigh that concern up against the benefits of an open floor plan. In my experience information sharing and the opportunity to get to know your neighbours are valuable enough to warrant the need to take a personal call away from your desk.<\/p>\n

 <\/p>\n

Lachlan Heussler is managing director,<\/i> Spotcap<\/i> Australia<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

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