Leading the London Business School (LBS) Incubator over the years has given me a front-row seat to the evolution of early-stage entrepreneurship. Being part of the broader £2 million Entrepreneurship Experience at LBS, each cohort brings a fresh wave of ambition, innovation, and resilience. While business models may change, certain core insights have remained consistent—and crucial—for turning promising ideas into thriving ventures.
First and foremost, founder clarity matters. Successful founders at LBS are those who have taken the time to articulate not just what they’re building, but why they’re building it. Their purpose; their vision. When founders align their personal motivation with their startup’s mission, they are far better equipped to withstand the inevitable ups and downs of the entrepreneurial journey. An Incubator environment supports this process—challenging founders to refine their thinking, pressure-test their ideas, and define their narrative with focussed messaging.
Customer obsession is another distinguishing trait. Startups often begin with a solution in search of a problem. Through mentoring and expert feedback, the best Incubator programmes encourage founders to flip this—to lead with deep customer insight. The most successful ventures are those that engage users early and often, adapt quickly to feedback, and iterate with discipline. Listening well and testing rapidly are not just skills—they’re invaluable habits that ultimately drive traction.
One of an Incubator’s greatest strengths is often the power of community. Since its inception, the LBS incubator programme has supported more than 160 ventures, which have collectively raised over £200 million and are now valued at more than £400 million, having created over 1500 jobs along the way. But beyond the numbers, the human network is just as valuable. The peer support, informal mentoring, and shared experience of the accolade of being cherry-picked for a prestigious programme create a powerful ecosystem for growth. Entrepreneurship can be lonely, but within an Incubator, no founder walks alone.
The importance of structured experimentation cannot be overstated. Many first-time founders aim for perfection before launch, but an Incubator should champion progress over polish. A minimal viable product tested in the real world teaches more than months of internal refinement. A supportive culture should embrace failure not as a setback, but as feedback. Founders learn to experiment boldly, measure honestly, and pivot quickly.
Fundraising remains a major milestone, and an Incubator is often instrumental in helping founders prepare. Through workshops, investor panels, and 1:1 pitch feedback, the process gets demystified. Investors are drawn not just to vision, but to validated traction, a scalable model, and a credible team. Founders should be helped to become investable—not just get investment.
Not forgetting the importance of founder wellbeing, sustainable success requires more than grit—it requires balance. Supporting founders in managing not just their ventures, but their energy, mindset, and leadership is crucial. Because great companies are built by grounded, resilient people.
Incubators aren’t just a launchpad for startups but should be a transformative experience for founders and part of a life-changing journey that continues to shape the entrepreneurs of tomorrow.
Jane Khedair, Executive Director, Institute of Entrepreneurship and Private Capital, London Business School