EWDD administers and provides financial support to several incubators in the City of Los Angeles through Community Development Block Grants (CDBG). The incubator and accelerator programs contribute to the City's innovation landscape by supporting the creation and growth of start-ups.
Business incubators are specially designed programs to help young startups innovate and grow. They usually provide office spaces, mentorship, education, and access to investors. These resources allow companies to determine if a business concept is viable while building a network with like-minded individuals. Incubators require a commitment for a specific amount of time; typically 1-2 years.
Accelerators are similar to incubators but are short-term and fast-paced; typically only 3-4 months. Many accelerators are competitive and limit the number of participants. Most companies join accelerators hoping to be put on an aggressive growth trajectory.
Business incubators are specially designed programs to help young startups innovate and grow. They usually provide office spaces, mentorship, education, and access to investors. These resources allow companies to determine if a business concept is viable while building a network with like-minded individuals. Incubators require a commitment for a specific amount of time; typically 1-2 years.
Accelerators are similar to incubators but are short-term and fast-paced; typically only 3-4 months. Many accelerators are competitive and limit the number of participants. Most companies join accelerators hoping to be put on an aggressive growth trajectory.
Incubators and Accelerators Partnered with the City of L.A.: