10/16/2018

The Difference Between Coworking Spaces, Incubators and Accelerators

Incubators, accelerators, and coworking spaces are three common terms that are often used in the startup community. All of these options are beneficial for the development of a new business. Each of them has something to offer depending on your needs and possibilities. So what’s the difference between them and which one should you choose?

Incubators are suitable for beginner startups as they foster new ideas. They usually work without a set schedule and have the focus on mentoring and helping to launch the business. To join the incubator, you need to apply for the program which usually lasts for a year.

Incubators help your business to grow, provide a decent workplace and give you a chance to network with the like-minded people. They are generally industry-specific and can give a science side to your idea.

Some incubators are located at universities providing you with the extended research possibilities. You may also access scientific equipment at those spaces. However, they do not always provide funding. And not all of the incubators ask for a part of equity. As they are industry-specific, they sometimes lack interdisciplinary collaboration.

Some incubators provide their members with the extended research possibilities and specific equipment

Accelerators provide services in exchange for equity. They also have programs you should apply for. Please note that you’ll have to overcome competition as only about 2% of applications get accepted. Such programs are usually intensive and quite short. Nevertheless, they will ensure a fast growth of your business.

Those who have already launched their companies but want to establish a network and attract capital investments will find these programs more beneficial. Accelerators work according to a set schedule; they provide mentorship and expect results within a defined period. They give you seed investment, workspace, intensive mentorship, and networking. They also coach you on how to develop your business quickly.

Coworking spaces are the locations that provide a workspace for a reasonable price. They also offer shared office facilities and ensure a high level of security. Here you can do creative work on your own or with your team no matter how big it is. You can also collaborate with other creators working next to you. Coworking spaces do not provide any seed investment, but they also don’t ask for your equity.

It is possible to both work on your own and collaborate at a coworking space

Choose the Right Place for Your Startup

You can use all three types at different stages of your startup development if you want to. There is no need really to stick to only one. When choosing where to start, pay attention to the next factors:

The level of your startup development. use the incubator if you’ve only started but haven’t launched the company yet. However, if you are more interested in attracting the investors and building partnerships, accelerators can be more useful to you.

Your requirements. If you need investments badly, accelerators will help you out. They will also give you the access to a network of their alumni where you’ll be able to build strong partnerships. But they will require a part of your equity.

Your plans and expectations. Coworking spaces may be a good idea if you need a flexible creative space to implement your creative ideas. Here you can also find partners and other service providers that can help you.

There also some pitfalls you should avoid during the decision-making process. The first one is thinking that there is one ultimate “success recipe” for every startup. It’s not so – you should discover it yourself instead. Indeed, accelerators and incubators may be helpful for your startup. But when picking one, research the alumni of the program you are interested in and think out of the box.

You should also decide whether it is necessary to give a part of your equity. You might find investors on your own instead without losing profit. Industry-specific locations can be very competitive. And low collaboration is possible between multidisciplinary creators.

Whether you choose a coworking space, an accelerator or an incubator, keep the focus on your startup and outsource the administrative burden to experts. There are advantages in each of the three options so be sure to benefit from the most suitable one!

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3. Benefits of Tagging Others

Social data also describes the interaction between social media users. While comments, likes, and shares are the most obvious forms of interaction on social media, tags are another form of communication between social media users. 

Tagging is one of the most effective tips for coworking on social media. When it comes to promoting your coworking space, tags do an amazing job at increasing your visibility. On Facebook, for instance, your post will have more reaches if you tag others:

Image credit: CENTRL Office

If you often organize events at your coworking space, you can tag the participants. If you have some special offers, tag someone who helps you promote them. Any tag conveys social data, as it transfers information from one user to another. It’s a great way to become more visible online and attract potential clients. 

In Conclusion

Like any other big data, social data has limitations, as not every social media user shares information. Nevertheless, social data is still very effective for marketing purposes, as it can help your coworking space become more recognizable. 

Using the above-mentioned social data techniques together will help you increase visibility, as they will help others find your coworking space more easily. In general, these techniques are aimed at targeting large numbers of people and help them easily navigate the space of social media to find the best coworking spaces. 

Platform

Location

Croissant

International

Included.co

International

Hubble

London

Coworker

International

Instant Offices

International

Pickspace

International

Share Desk

International

Happy Desk

International

DesksNear.me

International

DeskTime

International

Coworking London

London

Desk Pass

International

Copass

International

Coworking Wiki

International

Desk Surfing

International

Near Desk

US

Liquid Space

International

GoCoWo

International

Find Workspaces

US

Sneed

India

Ofixu

International

Meetings Booker

International

Qdesq

India

eWorky

International

Share your office

US

Spacelist

US and Canada

42 Floors

US

Office List

US and Canada

Coffices

International

Breather

US, Canada, Europe

Setting

Berlin

Key to Office

International

Peerspace

US and Europe

Bizly

US

Spacewhiz

India

Beewake

US and Europe

Awfis

India

Allofficecenters

Germany

Splacer

US

Lexc

International

Desk Camping

International

Worksnug

International

Seats 2 Meet

US

Coworking.Coffee

International

Commercial Cafe

US

Preferred Office Network

US

Heydesk

International

Office Freedom

International

Flexas

International

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