Business Entrepreneur

Virtual business incubator programs gaining traction

virtual business incubator

Virtual business incubator programs are becoming popular in a world where geography matters less thanks to technology.

virtual business incubator

Virtual business incubator programs

Companies that are chosen to participate in a business incubator program may receive numerous benefits: new business owners get to learn from an established company in the industry that has years of knowledge and experience, they develop a strong network of industry leaders and peers, and a good portion of their business expenses are covered by the host company so that they can focus on driving growth.

Now that incubator programs have taken off, several variations have come on to the scene – one of the more prominent being virtual incubators. In a typical incubator set-up, companies are required to come to the host’s office location and work under one roof with other participants to build a sense of camaraderie and have direct contact with peers and advisers.

Virtual incubators are good options for businesses that need to stay at their home location in order to conduct business, but can still benefit from advice and counsel from an industry leader. Selected companies receive guidance through a host’s online support network, where they can pool resources and obtain key information on how to successfully complete not only the steps necessary to launch a business, but also learn strategies on how to maintain that business and keep it stable.

Trending toward virtualization of offices

Many business processes are trending towards more virtualized settings, including conducting interviews and meetings via Skype and telepresence, to businesses using cloud technology to share and make real-time edits to documents and projects with clients in different locations.

Distance no longer dictates business relationships, and virtual incubators utilize online networks to provide up-and-coming companies with the resources they need to make their mark in the industry. Additionally, by running a virtual incubator program, host companies can extend their professional and partner networks beyond their site locations and create an expanded reach across states and internationally.

Although it’s helpful to work in direct contact with the hosting company, if you’re a business that has to stay put, consider applying for a virtual incubator program to get some of the same benefits in online form.

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