About Business Incubators
Perhaps you have heard about business incubators but are not quite sure what they are. If so, here is a brief introduction to business incubation.
Incubators nurture early-stage ventures during the stage when they are most vulnerable, helping them to survive and grow. Incubation is a dynamic process that can greatly impact the viability and success of start-ups. They provide hands-on management assistance, access to funding and connections to critical business resources or technical support services.
Incubators can also offer entrepreneurial firms shared office services, access to equipment, flexible leases and expandable space all under one roof. The main goal of incubator programs is to produce successful graduates - businesses that are financially viable and freestanding when they leave the incubator, typically in two to three years. Thirty percent of incubator clients across the United States typically graduate each year.
According to the Impact of Incubator Investments (Molnar et al., 1997) study, 87% of incubator graduates are still in business. Like venture capitalists, incubators impose selection criteria upon prospective clients. Some accept a mix of industries, but others concentrate on industry niches.
At the SMARTstart Pasco Business Incubators, our team provides:
- Business Development Classes & Workshops
- Co-working Space
- Dedicated Desk Space
- Meeting Rooms
- Private offices
Are you ready to become a member? Visit our membership page to compare the different levels of membership to see which one best fits you!