The NpA Incubator: Executive Summary & Start-Up Budget 2018
The NpA Incubator: Executive Summary & Start-Up Budget 2018
The NpA Incubator: Executive Summary & Start-Up Budget 2018
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History<br />
<strong>The</strong> formal concept of business incubation began in the USA in 1959 when Joseph L.<br />
Mancuso opened the Batavia Industrial Center in a Batavia, New York, warehouse.<br />
Incubation expanded in the U.S. in the 1980s and spread to the UK and Europe through<br />
various related forms (e.g. innovation centers, pioneers enterprises,<br />
technopoles/science parks).<br />
<strong>The</strong> U.S.-based International Business Innovation Association estimates that there are<br />
about 7,000 incubators worldwide. A study funded by the European Commission in<br />
2002 identified around 900 incubation environments in Western Europe.<br />
As of October 2006, there were more than 1,400 incubators in North America, up from<br />
only 12 in 1980. Her Majesty's Treasury identified around 25 incubation environments in<br />
the UK in 1997; by 2005, UKBI identified around 270 incubation environments across<br />
the country.<br />
In 2005 alone, North American incubation programs assisted more than 27,000<br />
companies that provided employment for more than 100,000 workers and generated<br />
annual revenues of $17 billion.<br />
Incubation activity has not been limited to developed countries; incubation environments<br />
are now being implemented in developing countries and raising interest for financial<br />
support from organizations such as UNIDO and the World Bank.<br />
Types of Services<br />
Since startup companies lack many resources, experience and networks, incubators<br />
provide services which helps them get through initial hurdles in starting up a business.<br />
<strong>The</strong>se hurdles include space, funding, legal, accounting, computer services and other<br />
prerequisites to running the business.<br />
Among the most common incubator services are:<br />
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Help with business basics<br />
Networking activities<br />
Marketing assistance<br />
Market Research<br />
High-speed Internet access<br />
Help with accounting/financial management<br />
Access to bank loans, loan funds and guarantee programs<br />
Help with presentation skills<br />
Links to higher education resources<br />
Links to strategic partners<br />
Access to angel investors or venture capital<br />
Comprehensive business training programs<br />
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