Incubators… Accelerators… and now Gazelles

Incubators… Accelerators… Gazelles… You keep hearing these words, but what are they exactly?  It used to be that when you heard the word “accelerator” you instantly thought of the Hadron Collider – the worlds largest particle accelerator (sorry, I guess my geeky side just showed!), but not so anymore! In fact, it seems like a day doesn’t go by without someone mentioning either an incubator, an accelerator or now a Gazelle.  They’re popping up everywhere… and for good reason. We need them.

Thankfully, technology, innovators and entrepreneurial ventures are increasing by the day. A great starting place to seek advisors or funding is within the settings of an incubator, accelerator or gazelle lab. But, it’s easy to get them confused as they all offer some of the same services and use similar terminology. If you are interested in applying for one of them, do dig deeper as they each have their own set of admission criteria and their services do vary. Following are some very brief descriptions gleaned from the Entrepreneur’s Advisor that touch the surface of these programs. Investigate them further if you are interested!

Incubators – These are programs set up by government, business alliances or academic groups that offer a variety of services and training. Their sole purpose is to assist small companies so that they have  a better chance of surviving the start-up phase. Some of the services included can be:

- Reduced rate office space

- Office services such as conference rooms, office equipment, receptionist, etc.

- Advice and mentoring of all types

- Business planning and consulting

- Contacts and networking

According to the Entrepreneur’s Advisor, the biggest advantage an incubator can provide a start-up is its access to experienced entrepreneurs, innovators and professionals who can answer questions and provide guidance and resources. I think that’s true not only in incubators, but accelerators and the Gazelle Lab as well.

Accelerators - They are more likely financed by venture capitalists or organizations that are looking for an opportunity to finance growth. Accelerators are similar to incubators. But they take things a step or two further by focusing on companies entering (or about to enter) the national or global market.

Accelerators generally offer all of the same services as an incubator but with a higher level of hands-on involvement from the management team.

Gazelle Labs – Gazelle Labs are a bit different as they offer a fast-paced three-month program. The lab is a mentor-driven, full-time plus program that is aimed at high impact potential firms. They focus on product, business and financial development.

There is a lot more that can be said about these programs and the positive impact they have on the communities they are located in.  Here in Tampa Bay we are lucky to have all three within reach.  For more information visit their websites:

Incubator: Tampa Bay Technology Incubator  • www.usfconnect.org/incubator.asp

Accelerator: Tampa Bay Innovation Center (formerly STAR TEC) • www.startecflorida.com

Lab: Gazelle Lab • http://gazellelab.com