Business incubators and accelerators are a cornerstone of startup culture, and Los Angeles County has scores of both.
Incubators give specialized attention to a limited number of companies, providing them with the resources and the know-how to launch and then grow their business. Many incubators take equity stakes in the companies, while others rent out physical space.
Accelerators take cohorts of young companies, put them through a course of workshops and seminars to give them the tools to speed up their growth. The courses are usually for a limited time period of up to six months, culminating in presentations to investors.
“Incubators and accelerators provide structured access to decision makers and potential customers in a way that builds collaboration and assesses market fit for solutions in an expedited manner,” said Taylor McPartland, chief executive of ScaleHealth, a Palms-based health innovation marketplace that connects health care startups with other health organizations to ensure access to health care resources they need to grow their businesses.
“Additionally, incubators and accelerators help to give startups a clear call to action and an opportunity to showcase their team and vision even if they are very early in their journey.”
There are no firm figures for how many incubators and accelerators there are in the county. McPartland did say he’s seen a reduction in the ranks as some programs, particularly accelerators, have pivoted away from structured programs toward more individualized consulting assistance for companies.
“I would love to see a comprehensive list of all incubators and accelerators in the L.A. area, what their focus is, what they offer, notable alumni, and what their application timetable is,” he said. “It would really help local startups and provide more visibility to local incubators and accelerators.”
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