Both incubators and accelerators are designed to support startups, but they differ in their methods and the stage of the startup they typically cater to. Incubators nurture startups in their very early stages, often providing a workspace, mentorship, and resources over a longer period, sometimes without a defined end date. They help entrepreneurs to develop their business model and strategy.
Accelerators, on the other hand, are more suitable for somewhat established startups looking to speed up their growth. They offer intensive programs, usually lasting a few months, that include mentorship, educational components, and often a small amount of seed capital in exchange for equity. The goal is to accelerate the company's development and prepare them for the next growth stage, such as attracting further investment.