What is definition of incubators?

Incubators are facilities that support the early-stage development of businesses or start-ups by providing workspace, resources, and networking opportunities. These facilities are typically focused on nurturing and growing companies in their early stages, providing them with access to funding, mentorship, and other resources to help them succeed. They may also provide access to specialized equipment, such as labs and production facilities for companies in specific industries like biotech or clean energy. Incubators may be run by universities, corporate organizations, local governments or independent organizations and may focus on specific industries, geographic regions, or technology areas. The ultimate goal of an incubator is to help start-ups become self-sufficient and profitable, so they can contribute to economic growth.