What is the difference between an accelerator vs. incubator?

Features
Business accelerators and incubators are programs designed to assist start-up businesses with financial and/or operational resources that will increase their chance of growth and success.

History
Business incubators emerged in the United States in the 1960s. The term "business accelerator" emerged during the dot-com era of the 1990s, when entities based on the same basic concept of traditional incubators sought distinction with their heavy focus on communication technology and Web presence.

Structures
More than half of business incubators are nonprofit government programs, but other structures include chambers of commerce, academic related associations and church organizations. A business accelerator commonly refers to for-profit entities and venture capitalists.

Assistance
In addition to financial grants, traditional incubators offer start-ups discounted rent and office equipment, as well as technical, administrative and networking support. Business accelerators are more focused on offering in-depth technical training, software, and Web space and presence.

Economic Impact
Incubators and accelerators offer advantageous economic contributions. Helping small businesses succeed implies an increase in jobs and economic expansion, which contributes to the growth of local economies, and, in turn, economies of a larger scale.

Geography
While the presence of business accelerators remains specific to the United States and highly developed nations in Europe, a global network of incubators was developed by the World Bank in 2002 to assist businesses in developing nations and regions, such as Sub-Saharan Africa.