What is the purpose of a biotechnology incubator?

The purpose of a biotechnology incubator is to support startups by providing them with essential resources and mentoring. This involves offering various forms of assistance, including access to laboratory space, funding opportunities, business development advice, networking connections, and sometimes even education on regulatory compliance and commercialization strategies. Incubators play a crucial role in nurturing early-stage biotech companies to help them develop their ideas and technologies into viable products or services, ultimately facilitating growth in the biotechnology sector. This supportive environment fosters innovation and collaboration, key elements for success in the competitive biotech landscape.