Local Business Incubators Aid Start-Up Success
A business incubator is a company, university, or organization that provides resources to nurture young companies, according to Martin Zwilling, CEO & Founder of Startup Professionals, Inc. These business incubators help young companies to survive and grow during the start-up period.
Incubators can provide the following:
- Flexible, low rate space and leases.
- Administrative, graphic, bookkeeping, copying, and meeting room access or services for a fee.
- Insurance plan group rates.
- Technical assistance on site or through community referral.
- Assistance to find funding or direct seed funding.
- Entrepreneurial networking opportunities.
The National Business Incubation Association (NBIA) web site, offers a look up tool to find an incubator in your area. You can also check with local universities to see what is available near you.
Zwilling suggests that start-up incubator programs allow your new company to garner wisdom from other companies through mentoring and “by co-existing — in the same office or through the same venture funding — with other start-ups.”
He also points to the importance of the relationships created through these incubators as crucial to the success of a business. After all, people are the most important asset a start-up can have.