Is coolness a key trait of a successful start-up incubator?

The whole idea of incubators is to offer start-ups the recourses they lack. By providing key pieces to the puzzle, a start-up develops from a concept into a full-fledged wealth generating machine. Or at least you hope.

ycombinator.com and launchboxdigital.com are two great examples of successful ones. The whole idea is to identify promising startups, give them seed money, mentor them, and set them up to pitch VCs. If you bring in several start-ups every year and one of them hits, you make bank. The advantage to putting them through a program is that you have control of their direction and you can make sure they don't screw up. Not to be harsh on start-up founders, but they are just more prone to making mistakes.

There’s an old adage: "coolness is in the eye of the beholder". Putting myself in a start-up founder’s shoes; I’m looking for an incubator that can nurture me and give me the resources I need to succeed. Being “cool” is not something I would look for. Start-ups need talent, advice, and support from seasoned industry veterans. Guy Kawasaki’s “Garage Ventures” is still one of the coolest things in the Valley, but it is because of what he offers, not cutting edge fancy cubicles or plasmas on all the walls. People respect him because of a proven track record and his ability to execute.

The incubator must invest in their brand, affiliate with leaders of major local financial, legal, consultative, educational, and industrial institutions. They must run a legitimately rigorous screening process that creates respect. Then, when a company is admitted, they will feel “select”, or “special”. By creating a very selective environment and making sure all the start-ups under your wing are successful; that is what makes you “cool”. Start-up founders need guidance, contacts, and advice from mentors who have their best interests in mind.

Some people think that a start-up incubator is designed to allow young entrepreneurs to cut corners during their path to success. A good example is, helping baby chicks out of an egg denies them the opportunity to strengthen their bodies and therefore develops a weaker chick. A successful start-up incubator does not do the work for the founder; it allows the founder the ability to ask for advice when necessary but also ensures that they get the right advice the first time around.

Mark Cuban may gain recruits because his facilities are top notch and he gives all his player’s generous perk packages, but has he won a championship lately? Startup incubators focus on success. It’s not a playground. You don’t need a game room to make a start-up founder work harder. Entrepreneurs work 18 hours a day regardless. That’s the whole idea. During the start-up lifestyle, you don’t go out and party and you typically don’t have a social life. It’s the people that work the hardest early on that get to retire and sit on a beach mid-life.