The first report of its kind to analyse the impact of accelerators and incubators in the UK  is out now! Click here for the full report.

The report written for for the Department of Business, Energy & Industrial Strategy (BEIS) highlights the contributions and spillover effects of business accelerators and incubators.

Key findings from the report:

• Incubators and accelerators contribute significantly and even vital to a start up’s success
• Most common types of support received as part of incubator and accelerator
  programs are: access to peers, mentoring, business skills development and coaching
• Business skills development and access to
  potential investors are the most important benefits to startups, according to accelerators and incubators
• Direct funding from the program (in the form of grants or investments) is the most valued support by startups

The report also discusses findings on how accelerators and incubators change the surrounding ecosystem. However, LEPs often would like to be given a bigger role in the strategic planning of incubators and accelerators in their regions.

What are the biggest challenges for accelerators and incubators?

The report suggests that incubators and accelerators see the cost of financing programs as the biggest barrier to having more impact, with the availability of quality ventures and availability or cost of suitable premises being another key challenge.