The problem with startups is that they have such a short trajectory. As soon as they launch, it’s a race to either getting funding, getting acquired or failing miserably. Startup founders need every resource they can get their hands on to make sure they succeed. Incubators have started popping up all over the country, since Y Combinator launched in 2005. And while startup incubators can provide a much-needed injection of cash, as well as mentorship and contacts, is it really what your business needs?
Drawbacks to Incubators
1. If you work full-time, you’ll find it hard to keep up with the work. The Founder Institute requires at least 15 hours of work on the incubator each week. That’s a 3.5 hour weekly session, as well as oodles of homework. If you’re working a job (either your startup or another 9-to-5), you’ll find it difficult to balance both (we won’t even throw in family time to that equation).
2. Incubators take some of your revenue. This is pretty standard, but if you’re not prepared to share on average 6% with your incubator, it might not be for you.