Launching a startup is no easy task. From coming up with an idea that can actually gain traction to creating a solid positioning statement, there are plenty of caveats that can cause even the most well-intentioned startups to fail — or at least stumble along the way. This is why getting assistance earlier on to help focus targets and strategies is critical. Enter the incubator concept . While the term is often used interchangeably with accelerators, it is not exactly the same thing. Although the end goal is to help fledgling startups gain their footing, launch and successfully enter the market, the way incubators go about it is different. Read on to find out more about the general purpose of business incubators and what is needed before applying to one. What Is A Business Incubator? Ignore the marketing speak and jargon because the concept is very straightforward. Breaking down what a startup business incubator is requires nothing more than considering what the actual piece of...

Milwaukee-based business incubator , Sherman Phoenix , wants to see its community win. As a result of their tireless efforts, the venue is boosting the economic growth of Black women entrepreneurs, reports Black Enterprise . On a mission to generate profitable and social returns for small businesses and startups, Sherman Phoenix created a high-quality space for over 30 restaurants and shops to offer “diverse foods, wellness services and cultural activities.” The majority of owners behind these growing companies are Black women like Adija Smith, owner of commercial bakery, Confectionately Yours. “ We’ve been known to be one of the most segregated cities in the United States, and I think it does come with the territory, unfortunately ,” Smith said, according to Black Enterprise . “With the support of the collaborative organizations that do not see color, but they just see genuine people with genuine gifts and talents that can be successful coming together, then we can make that...