Hello, Guest.!

Local Govts Look to Hybrid Model of Incubators and Accelerators to Boost Business Startups

1 min read

business startupGovernment officials in the Washington, D.C., region have begun developing new business development models that move toward mentoring and training-driven programs from the traditional location-based programs, The Washington Post reported Monday.

J.D. Harrison writes the change is due to the varying effectivity of models among startup spaces supported by government grants in an effort to drive local economies through innovation and entrepreneurship.

“Historically, the model was based on real estate and simply offering a collaborative environment. Going forward, it’s going to be much more program-driven,” said Phil Schiff, chief executive of the Tech Council of Maryland, which has already explored hybrid models.

A hybrid model will integrate accelerators’ mentoring programs and financing options with an incubators’ working space-based programs, reports Harrison.

Others turning to hybrid models are Montgomery County’s William Hanna Innovation Center, Anne Arundel County’s Chesapeake Innovation Center, the Northern Virginia Technology Council and the District’s 1776.

“You need a community and collaboration, but that doesn’t necessarily mean you need a physical space,” said Kristin D’Amore, president of the NVTC entrepreneur center.

Leave a Reply

Your email address will not be published.