Incubator

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About

Business incubators are programs designed to accelerate the development of entrepreneurial companies. The incubator management offers the entrepreneurial businesses an array of support resources and services through the incubator and its network of contacts. Entrepreneurs who want to enter a business incubator program must apply for admission. Only those with feasible ideas and a workable business plan are admitted.

Common Incubator Services

Although most incubators offer their clients office space and shared administrative services, the core value of a business incubation program is its services provided to startup businesses. The following are the common incubator services:

Help with business basics
Networking activities
Marketing assistance
High-speed Internet access
Help with accounting/financial management
Access to bank loans, loan funds and guarantee programs
Help with presentation skills
Links to higher education resources
Links to strategic partners
Access to angel investors or venture capital
Comprehensive business training programs
Advisory boards and mentors
Management team identification
Help with business etiquette
Technology commercialization assistance
Help with regulatory compliance
Intellectual property management

Incubator types

Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve. The types of incubators can be categorized by the industry sectors they intentionally serve, as follows:

Technology
Computer software
Services/professional
Manufacturing
Internet
Biosciences/life sciences
Electronics/microelectronics
Telecommunications
Computer hardware
Medical devices
Creative industries
eBusiness and eCommerce
Wireless technology
Healthcare technology
Advanced materials
Defense/homeland security
Energy
Environment/clean technologies
Media
Nanotechnology
Construction
Arts
Aerospace
Kitchen/food
Retail
Fashion
Wood/forestry
Tourism

Social Influence

Business incubation has been identified as a means of meeting a variety of economic and socioeconomic policy needs, which may include

• Creating jobs and wealth
• Fostering a community’s entrepreneurial climate
• Technology commercialization
• Diversifying local economies
• Building or accelerating growth of local industry clusters
• Business creation and retention
• Encouraging women or minority entrepreneurship
• Identifying potential spin-in or spin-out business opportunities
• Community revitalization

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