noun, noun which may take the genitive case particle 'no'
first generation; founder; inaugural
Refers to the first holder of a title, the first model of a product, or the founding figure of an organization. Often used attributively with の.
He is the first president of this company.
The first-generation iPhone was released in 2007.
He is the founding president of this company.
The original model of this game was the most popular.
It's a long-established shop that has continued from the first generation to the fifth.
初代 is the founding first generation, while 二代目 is the successor who takes over as the second generation.
初代 always means the very first generation or founder, whereas 先代 means simply the previous generation or predecessor, who may or may not be the first.
Compound of 初 (sho, 'first') and 代 (dai, 'generation' or 'era').