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An Incubator is a place where businesses get help to grow. |
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The county government funds incubators to help entrepreneurs grow and create jobs in the
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Entrepreneurs come to them with an idea and.... |
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They help them prepare their business plan. |
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They coach them |
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They have space but they are not about space. |
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They space is a little below market rate. |
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They have lab space for scientific entrepreneurs. |
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They provide training programs. |
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They look at the viability of the entrepreneurs to have a viable business idea. |
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They have about 150 companies in the program, including: |
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Bio Companies |
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IT Companies |
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Service Companies |
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Marketing Companies |
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Accounting Firms |
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Government Contractors |
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International Companies |
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Green Tech Companies |
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The companies pay $300-$400 a month for office space and all the services are free. The companies also get use of the conference room, copiers, faxes and about 100 free training programs a year. |
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The training can include anything from basic accounting to how to do an IPO. |
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Most come in with very little financing and need more money. They help teach about financing. |
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They have serial entrepreneurs. Some people come back and use the services to start a new business after they sold their first business. |
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There are different kinds of incubators around the country. They are probably the biggest or at least in the top 5. |
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Companies stay from one year to 5 years. |
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The companies can get out of their incubator agreement within 60 days. |
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Small Business Administration data shows that about 80% of businesses fail. In their incubator program, about 85% of them become a success. |
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You have to apply to be accepted by the incubator program. |
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They offer free legal help with Copyright Law, Patent Law and Business Law. This can be worth $10,000 to the incubator business. |
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There are 22 incubators in the state of Maryland alone. |
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National Business Incubator Association (NBIA) is the place to look for incubators around the country. |
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They have graduated over 90 companies in the past 10 years and 83 are still in the country. |
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There are about 60 women and minorities in their programs. |
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You can come from anywhere and they will help you start a business in Montgomery County. |
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They have companies from overseas come and use their program to start a bsusiness in the United States. |
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They also have a network of venture capitalists and angle investors that keep coming to them looking for businesses to invest into. |
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They help their companies with presentations when looking for money. |
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You can move in and take over one office, but then grow into having more offices in the program. |
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The economic downtown creates more entrepreneurs. |
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To Find An Incubator Program Near You Contact:
National Business Incubator Program |
