Incubators are aimed at startups who are still developing their product. Non-profit groups, such as academic and government organizations, run the vast majority (93%). They don’t provide direct funding but can help startups find other sources of funding – and they may also provide office space and administrative support. They may mentor startups for 2 years or more.
Accelerators work at a much faster pace with a typical program length of 3-6 months. They’re private companies that invest funds (for a share of equity that’s normally between 4% and 15%), and they provide focused support and mentoring. They normally look to support small teams, not individual founders. They expect a lot of focus and work from the company during the months of the program.