Businesses That Make Businesses??
For a while now, I’ve been fascinated about the idea of businesses that help build other businesses. While this sounds strange when written down (see title) I think that companies like this have the power to do a lot of good things. The way I see it, they can empower the people who have big ideas but who don’t yet have the level of expertise necessary to bring these ideas to life. By mentoring these entrepreneurs and helping them bring their ideas to market, these companies create a new generation of entrepreneurs who can then mentor others in a cycle of innovation.
While companies that help build companies is not a new economic concept, it is definitely one that I am finding difficult to describe. It has been tough to put a name to this. I’m settling on the “accelerator/business incubator industry” for now. As I learn more, hopefully I will pin down a better name. Like any other industry, the accelerator/business incubator industry has its own major players. Y Combinator gets a lot of the attention seeing as it helped bring us some big names like AirBnB, but TechStars, 500 Startups, Plug and Play, SOSV, and Startupbootcamp are some other well known ones. While there is definitely a focus on tech, this concept can be brought to any industry which I why I find it so appealing.
I am excited to continue exploring this industry and posting my thoughts about my findings in future posts!