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==Small Business Administration Definition of an Incubator==
According to an academic paper titled, [https://www.sba.gov/sites/default/files/rs425-Innovation-Accelerators-Report-FINAL.pdf ''Innovation Accelerators: Defining Characteristics Among Startup Assistance Organizations''], written for the SBA, this term refers to an organization with the following characteristics (pg. 10):
#''Investment:'' Generally, does not take equity and does not invest directly in the company
[[File:VennDiagram.png| frameless|Venn Diagram of incubators and accelerators]] Venn Diagram from pg.14 shows overlap and distinct qualities of incubators and accelerators
==National Business Incubation Association Definition of an Incubator==
Based on the academic paper titled, [https://inbia.org/wp-content/uploads/2016/09/InBIA-Industry-Terms.pdf?x84587 ''Operational Definitions: Entrepreneurship Centers''], NBIA defines an incubator as follows:
#''Investment:'' charge membership fees or monthly fees in exchange for office space and access to the incubator program services
#''Services:'' mentoring, training/education, networking opportunities within local community
#''Application Process:'' companies apply and are selected based on incubator's stated criteria/mission statement
#''Graduation:'' incubators have stated graduation policies based on milestones, growth metrics, or time
#''Duration:'' companies may join incubators on a rolling basis and can reside in incubator on a flexible timeline, typically 1-3 years
