Startup terminology every entrepreneur should know.
Accelerator: an environment that “accelerates” the growth of an existing company; focuses on scaling a business and startup growth.
Example: gener8tor is a nationally ranked, 12-week program accelerator that invests in high-growth startups.
Incubator: An environment that “incubates” early stage companies; focuses on innovation and idea development.
Example: 1871 is a digital startup incubator created to support Chicago’s digital startup community.
Coworking Space: A membership-based space in which diverse groups of entrepreneurs, technologists, and innovators gather to work in a communal setting.
Example: Ward4 is a coworking space designed to create an entrepreneurial ecosystem.
Hackathon: A weekend or day-long event in which groups of developers/programmers gather to create hardware or software products.
Demo Day: When startups from accelerators present their companies to investors, mentors and the community to review their progress and growth.
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