Definition of Terms

Ecosystem – People, businesses, and stakeholders in the startup community who are in various sectors and in various stages of their businesses who interact as a unit. 

Accelerator – An organization that gives businesses that have gone beyond the initial stages support, in terms of access to mentors, investors, and coaching to enable them to become stable and self-sufficient. 

Co-working space – A neutral space offered by an organization to individuals or professionals of like-mindedness to foster collaboration or independence of businesses in shared office spaces. 

Hub – A physical space that brings together people or businesses in diverse industries to create innovative products and services. 

Incubator – An organization that gives businesses that are in their very early stages access to mentorship, funding, and other resources to enable them to get established. 

Makerspace – This is a space offered to businesses that lack equipment and tools for prototyping their ideas. 

Startup – This is a business that is in its earliest stages of establishment and leverages the use of technology to rapidly scale. It may stay in this stage for up to 3 years