Incubators Hatch Businesses
Resources for entrepreneurs.
According to a 1998 study by the National Business Incubation
Association (NBIA), there are 587 incubators in North America
helping thousands of fledgling businesses take flight every
year.
While 43 percent of incubators are open to all types of
businesses, the next largest category is technology, with 25
percent of facilities serving high-tech companies.
Following are some of the newest incubators that either recently
opened or will be up and running shortly.
- STARTech, a for-profit incubator operated by the Richardson
Chamber of Commerce in the Dallas-Fort Worth area, provides
start-up services and leases space to emerging technology
firms.
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Entrepreneurs receive marketing and technology development help
as well as other business assistance. In addition, companies can
take advantage of a seed fund that makes investments of $25,000 to
$200,000; there is also a venture capital network for companies
seeking $1 million or more.
- The Georgia State Legislature is funding three new high-tech
incubators, all operated by the Georgia Research Alliance.
The first incubator focuses on companies involved in the
pharmaceutical industry and will be located on the campus of
Georgia State University in Atlanta beginning in January.
The second is a bio-engineering incubator scheduled to open in
September 1999 on the Georgia Institute of Technology campus in
Atlanta.
The University of Georgia in Athens is hosting the third
incubator, which is scheduled to open in December 1999. It will
focus on plant and animal technology.
- The Enterprise Development Center is a nonprofit mixed-use
incubator in Louisville, Kentucky, that's operated by LCDB
Enterprise Group. The facility is also located in the Louisville
Empowerment Zone, which enables tenants to take advantage of a
revolving loan fund.
- The Phillips Eco-Enterprise Center in Minneapolis is a virtual
incubator that's becoming an actual facility in June 1999. It
targets renewable-energy and other environmental firms and will
provide business and management consulting in such areas as
marketing, finance, and product development and positioning. Firms
interested in applying must submit a business plan, which will be
individually reviewed for viability of the product or service and
enterprise capabilities.
For a more complete list of incubators, contact the NBIA at
(740) 593-4331 or http://www.nbia.org
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