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Business Incubation Basics

Business Incubation definition. A program designed to accelerate the success of young entrepreneurial companies through an array of services and resourcescustomized by on-site staff with goal to graduate firms out of incubator and into community. Highlights of NBIA State of the Industry 2002 re

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Business Incubation Basics

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    1. Business Incubation Basics Thea Chase Colorado Business Incubation Association Meeting 5/14/07

    2. Business Incubation definition A program designed to accelerate the success of young entrepreneurial companies through an array of services and resources customized by on-site staff with goal to graduate firms out of incubator and into community Business incubators accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed or orchestrated by incubator management, and offered both in the incubator and through its network of contacts. Why do we support entrepreneurs? 2/3 of innovations, dominant source of job growth Global Entrepreneurship Monitor Statistics Business incubators accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed or orchestrated by incubator management, and offered both in the incubator and through its network of contacts. Why do we support entrepreneurs? 2/3 of innovations, dominant source of job growth Global Entrepreneurship Monitor Statistics

    3. Highlights of NBIA State of the Industry 2002 report 950 North American Incubators Academic institutions most common sponsor Mixed use most common For profit to 16% (during dot com era) Creating jobs is most common purpose Tech programs offer more services More then 2/3 offer pre-incubation 1/5 of program managers manage more then one site 2002 Report conducted during dot com era Current estimates are over 5000 incubators world wide Over 1000 in North America 2002 Report conducted during dot com era Current estimates are over 5000 incubators world wide Over 1000 in North America

    4. More Highlights programs took equity in companies (numbers skewed by dot com era) 60% can operate w/o subsidy Avg. age in operations is 10 years Staffing averages is 2.4 people Avg. # of clients-22 Avg. combined client revenue - $7.8 million Avg. combined client jobs - 86 Avg. size 47,000 sq. ft.

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