1. How much money should one have saved up to be able to build a business via an incubator program as a launching pad? 2. There is an incubator program being run by 1 guy (who has access to a lot of investors). I don't really have a clear idea on the business I want to pursue just yet, as I have been a bit busy with freelance work and trying to survive, but should one just pitch an idea anyway? 3. Why go through an incubator at all? Isn't it better to build a product, validate the idea and THEN approach investors to negotiate things on more favorable terms? Or should one just approach an incubator that takes 5% equity only for providing advice? (and no capital). 4. Currently I don't have a team or a product or a proper idea. What I do have is a network of Freelance contractors I work with and a few clients for my freelance business. Does it make any sense to pitch at an incubator? Or does it make more sense to siimple build relationships at Incubators and investors and open lines of communication at this stage?
Look at your peers and the people involved in the incubator. If networking with them enriches your venture and helps you out, then it's a good idea.
That's the way you decide on an incubator or a coworking space. An acceleration program, though, is a whole different monster.