HUB GLOSSARY
HUB A hub is a centre, structure or network comprising of all actors supporting entrepreneurial ventures or innovation. Cities are also o en defined as hubs when they represent important nodes for business and invesment. ACCELERATOR An accelerator is a structure that offers cohort-based and fixed term programmes (usually between 3-6-9 months) to support growth stage ventures to achieve scalability and self-sufficiency, through offering advisory services, mentorship, workshops, networks and usually investments in cash or in-kind. COWORKING SPACE A co-working space is a shared physical workspace that provides office facilities and a community to startups, small companies and independent workers - offering reasonable and flexible contracts for its users and encouraging peer-learning, networking, capacity development, and collaboration. ECOSYSTEM An ecosystem is a dynamic framework consisting of a set of stakeholders - startups, hubs, investors, academic institutions, public institutions, corporations - who interact and engage with each other to seize new opportunities, support innovation and strengthen the overall business environment for entities at different stages, sectors, and geographical locations. HACKATHON A hackathon is a tech-focused event taking place across a set timeframe which can usually span between one day to a week, and that gathers specialists in computer programming, digital creation, technology or so ware development to collaborate on specific ideas or concepts to find solutions to a problem or to design, develop and create MVPs. HACKERSPACE ANDMAKERSPACE A makerspace is a physical facility or lab fitted with machinery, technological tools and other equip- ment to help communities and individuals co-create and explore ideas, create prototypes and test products, as well as develop technical skills and knowledge. INCUBATOR An incubator is a support structure that helps early-stage start-ups transform from idea to venture, by offering advisory services, resources, workshops and hands-on training that guide entrepreneurs in defining and refining their business models and value propositions with the goal of becoming sustain- able businesses. They sometimes have a limited pool of cash to support the portfolio companies. INNOVATION HUB An innovation hub is a centre for learning, ideas, co-creation and community, that nurtures innovative ideas and market disruption, and supports creative ways of solving problems through offering on-the ground support across the entirety of the start-up lifecycle. PORTFOLIO A portfolio is a collection of individuals or organisations that either are part of/have successfully com- pleted a hub programme or are beneficiaries of direct or indirect investment by an investor or fund.
BRITER BRIDGES
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