Enterpreneurship Center Definition

Operational Definitions:
Entrepreneurship Centers
(Incubators, Accelerators, Coworking
Spaces and Other Entrepreneurial
Support Organizations)
Version 2.0
September 2017
T he recent rise in leveraging regional entrepreneurship to drive economic
development and job creation in local communities has resulted in a rapid evolution
of entrepreneurial support models. Current models include incubation, acceleration,
coworking, and blended models (which we refer to as super hubs). InBIA generally refers
all types of entrepreneurial support organizations as entrepreneurship centers, though we
fully recognize the differences and nuances for each approach. Below, you will find a list
of definitions for several entrepreneurship center models that have the primary mission of
helping entrepreneurs succeed.
Glossary of Terms
Branded Third-party Entrepreneurship Program
Branded third-party entrepreneurship programs include replicable or franchised programs such as One
Million Cups, Startup Weekend and Startup Grind. These programs are meant to be non-competitive
showcase or learning events to help promote entrepreneurship in a local community.
Coworking Space
Coworking spaces offer open collaborative community-based workspace for like-minded individuals
or early-stage companies. Coworking spaces offer flexible work space in the form of hot desks, private
(dedicated) desks or offices. Member companies pay for their space through rent or membership dues.
Coworking spaces typically do not offer formal/required programs (education or training), although
they may have speakers, meetups or other optional, informal learning opportunities. Coworking spaces
generally do not have established graduation criteria or competitive application processes. They are
motivated to retain member companies as a sustainable revenue stream (versus graduating companies).
Economic Development Center or Organization

Economic Development Centers and Organizations are responsible for creating, managing, and supervising
programs and activities that promote, assist and enhance economic development. They focus their
economic development efforts on the creation of jobs and new investment in a region. These centers
typically do not offer space or formal programming for entrepreneurs and startups.
Higher Education Academic Department

Academic Departments are housed in institutions of higher education and may provide space for student
entrepreneurs. Academic departments are not separate programs, but rather offer courses and curriculum
focused on entrepreneurship. Attendance in courses are mandatory for students to pass/graduate, and
some curricula offer events for either networking, pitching, or demonstrating products.
Incubator
Incubators typically charge monthly program fees or membership dues in exchange for office/desk space
and access to program offerings. Incubators offer programs to member companies that typically include
mentoring, education/training, and informal learning opportunities. Incubators also host events to provide
networking and learning opportunities for both member companies and the local community. Member
companies are usually required to apply to ensure they meet the incubator’s criteria or mission (industry,
stage of company, founder demographics, etc.). Incubators usually have graduation policies that are
typically based on achievement of agreed-upon milestones, growth metrics or time-based stipulations.
Typically companies join incubators on a rolling basis (non-cohort), and are able to reside in the incubator
for 1-3 years.
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Makerspace
Makerspaces are non-program based community work spaces that provide equipment for specific sectors
of manufacturing (e.g., technology, 3D printing, woodworking, food) and provide the tools, training, and
specialized equipment necessary for creating and building physical products.
Pre-Accelerator
Pre-Accelerators are similar to accelerators, except they typically do not have equity-based funding.
However, they may have grant funds available or access to a community-based evergreen fund. Pre-
Accelerators have a competitive application process, have mandatory attendance and include a culminating
event at the end of the program. Pre-Accelerator participants are accepted into the 3-6 month program in
a cohort that is very similar to seed accelerators.
SBDC
Small Business Development Centers (SBDC) are cooperative service-based centers that are subsidized by
the SBA (U.S. based), government agencies (international), higher education institutions, or economic
development organizations. SBDCs provide learning opportunities and mentoring for small businesses in
any industry. Small businesses/entrepreneurs participate in SBDC programs on a rolling-basis (non-cohort
based), have no graduation or participation criteria to meet, and are not charged for counseling services.
There may be a fee to participate in SBDC training/educational programs. Some centers may have space
available for rent, although most are walk-in counseling or training center configurations. The goal of a
SBDC is to support small business growth and foster local and regional economic development.
Seed Accelerator
Seed accelerators have a highly competitive application process, and will invest equity capital in selected
companies. Accelerator programs are typically short-term ranging from 3-6 months. Accelerator programs
accept companies in cohorts and provide learning opportunities and intense mentoring to each company,
with a culminating graduation event at the end of the program where companies are able to pitch their
concept or product in front of investors and other key stakeholders. Space is usually provided to companies
for the duration of the program, although some seed accelerators run cohorts virtually with required
attendance at educational or networking events.
Student Entrepreneurship Center

Student entrepreneurship centers are programs offered by institutions of higher education (e.g.,
universities, colleges) and provide entrepreneurship learning opportunities and mentoring to foster
entrepreneurship development among students. Some centers offer space while others do not.
Participation is open to students enrolled in the institution and some centers have competitive application
processes to participate in their programs or space.
Super Hub
SuperHubs blend several models of entrepreneurial growth into a single location, supporting entrepreneurs
with a wide range of critical services. These are often incubators that may also have accelerator programs,
coworking spaces, robust mentor networks, private offices, and/or networking events. These are located in
urban, rural and developing regions in every country, and are often the anchor hubs for urban innovation
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districts.
Technology Transfer or Commercialization Office

Technology transfer and commercialization offices are focused on providing information, guidelines and
resources to faculty, students or staff interested in commercializing research or intellectual property
developed at the university through spin-out or technology startup companies. Technology transfer offices
connect these companies with incubators, corporations, government agencies and investors. Some offer
programs that include informal learning opportunities and mentoring. These offices typically do not have
space available for rent, and do not have graduation criteria or culminating events.

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Enterpreneurship Center Definition

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Operational Definitions:

Economic Development Center or Organization

Higher Education Academic Department

Student Entrepreneurship Center

Technology Transfer or Commercialization Office

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