What are the differences between incubators and accelerators?

Incubators typically provide startup companies with flexible programs, products and services, such as mentoring, office space and in-kind support for varying lengths of time based on startup’s needs and based on the incubator graduation policies.

On the other hand, most accelerators take a group of companies, a cohort, or a cycle, through a specific process over a predefined period of time, concluded by a public pitch event or demo day.

Accelerators also generally offer their services along with seed financing in exchange for for equity, while many incubators do not make this type of financial commitment.