Technology Incubator Business Plan

Technology Incubator Business Plan-49
Innocent violation of complex SEC rules and regulations can result in crippling fines and, in some cases, jail time. Most incubators take a percentage ownership in the companies and also charge a monthly fee that includes office rent, furniture, Internet access, use of office equipment, phone service, administrative help and professional business advisory services.If you do not have a strong contract covering all these aspects, then incubator clients who become successful may resist paying you or giving you the stock to which you are entitled. You will need this to get funding either in the form of grants or sponsorships from local governments or corporations.

Innocent violation of complex SEC rules and regulations can result in crippling fines and, in some cases, jail time. Most incubators take a percentage ownership in the companies and also charge a monthly fee that includes office rent, furniture, Internet access, use of office equipment, phone service, administrative help and professional business advisory services.If you do not have a strong contract covering all these aspects, then incubator clients who become successful may resist paying you or giving you the stock to which you are entitled. You will need this to get funding either in the form of grants or sponsorships from local governments or corporations.

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Research the benefits of creating a virtual versus a physical facility.

With online meeting and collaboration capabilities, it is easy to operate a virtual incubator, with only occasional face-to-face meetings and required reporting.

Economic development organizations sponsor 31 percent of business incubators, government entities fund 21 percent and academic institutions sponsor 20 percent, according to the NBIA.

Market your incubator at networking events, angel group meetings, civic group and chamber of commerce meetings, colleges and universities.

Directly approach venture capital firms, which often farm out portfolio companies to incubators.

These groups are good sources of referrals to entrepreneurs seeking to start businesses, who need the assistance an incubator can provide.Victoria Duff specializes in entrepreneurial subjects, drawing on her experience as an acclaimed start-up facilitator, venture catalyst and investor relations manager.Since 1995 she has written many articles for e-zines and was a regular columnist for "Digital Coast Reporter" and "Developments Magazine." She holds a Bachelor of Arts in public administration from the University of California at Berkeley.Here is a quick guide to navigating these increasingly popular concepts. According to the National Business Incubator Association (NBIA), an incubator is "a business support process that accelerates the successful development of startup and fledgling companies by providing entrepreneurs with an array of targeted resources and services.These services are usually developed or orchestrated by incubator management and offered both in the business incubator and through its network of contacts." In short, these programs exist to help improve the odds of success for startups."We are here and will help them as investors, generally around key events of the company funding events and major business developments," said Axelrod."We still talk to companies from two years ago all the time.They come to us for advice, and they are common stock holders like we areso our intentions are completely aligned with the founders'." In addition to making an investment in the company, accelerators also differ from incubators in the time companies spend in the program.Accelerator programs are designed to be concise and generally take three to four months to complete. Like incubators, accelerators exist for all different industries and interests. Despite their differences, incubators and accelerators can both help businesses tremendously.Incubators do not generally have a strict focus on the amount of time a business will spend in the program.For example, companies at the NYU Poly incubators generally spend 18 months in the program, but other incubators may have a longer time frame.

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