With innovation and entrepreneurship booming, incubators, and accelerators are rapidly growing to empower founders to launch and grow their startups. Traditional incubators, accelerators, and coworking space business models rely heavily on government grants and renting desks. However, it is getting tougher for these organizations to be self-sustainable when the government subsidies are reducing or focusing on programs that offer true value adds.
As a result, startups are not receiving the support they need. Incubators, accelerators, and coworking spaces need to create new business models to urgently redefine their approach. Clear value adds must be established to permit a true win-win situation between their goals and those of the startups, governments, and investors.