What is the purpose of a business incubator?

A business incubator is designed to support the development and growth of early-stage companies by providing resources, mentorship, networking opportunities, and physical workspace. The main purpose of a business incubator is to help startups overcome common challenges such as lack of funding, limited access to expertise, and a lack of business connections. By providing these resources and support, business incubators aim to increase the likelihood of success for new businesses and help them become sustainable and profitable in the long term.