The NpA Incubator: Executive Summary & Start-Up Budget 2018

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History The formal concept of business incubation began in the USA in 1959 when Joseph L. Mancuso opened the Batavia Industrial Center in a Batavia, New York, warehouse. Incubation expanded in the U.S. in the 1980s and spread to the UK and Europe through various related forms (e.g. innovation centers, pioneers enterprises, technopoles/science parks). The U.S.-based International Business Innovation Association estimates that there are about 7,000 incubators worldwide. A study funded by the European Commission in 2002 identified around 900 incubation environments in Western Europe. As of October 2006, there were more than 1,400 incubators in North America, up from only 12 in 1980. Her Majesty's Treasury identified around 25 incubation environments in the UK in 1997; by 2005, UKBI identified around 270 incubation environments across the country. In 2005 alone, North American incubation programs assisted more than 27,000 companies that provided employment for more than 100,000 workers and generated annual revenues of $17 billion. Incubation activity has not been limited to developed countries; incubation environments are now being implemented in developing countries and raising interest for financial support from organizations such as UNIDO and the World Bank. Types of Services Since startup companies lack many resources, experience and networks, incubators provide services which helps them get through initial hurdles in starting up a business. These hurdles include space, funding, legal, accounting, computer services and other prerequisites to running the business. Among the most common incubator services are: Help with business basics Networking activities Marketing assistance Market Research High-speed Internet access Help with accounting/financial management Access to bank loans, loan funds and guarantee programs Help with presentation skills Links to higher education resources Links to strategic partners Access to angel investors or venture capital Comprehensive business training programs Page 4 of 10
Advisory boards and mentors Management team identification Help with business etiquette Technology commercialization assistance Help with regulatory compliance Intellectual property management Types There are a number of business incubators that have focused on particular industries or on a particular business model, earning them their own name. This list is incomplete: Virtual business incubator - online business incubator Kitchen incubator - a business incubator focused on the food industry Public incubator - a business incubator focused on the public good Seed accelerator - a business incubator focused on early startups Corporate accelerator - a program of a larger company that acts akin to a seed accelerator Startup studio - a business incubator with interacting portfolio companies Hybrid Incubator - A business incubator that combines virtual incubator with onpremise activities Industry Sectors Intentionally Supported By Incubation Programs Technology Creative industries Construction Computer software eBusiness / eCommerce Arts Services/professional Wireless technology Aerospace Manufacturing Healthcare technology Kitchen/Food Internet Advanced materials Retail Biosciences/life sciences Defense/homeland security Fashion Electronics/Microelectronics Energy/Power Wood/forestry Telecommunications Environment/clean technologies Tourism Computer hardware Logistics/Delivery Manpower Medical devices Nanotechnology Media More than half of all business incubation programs are "mixed-use" projects, meaning they work with clients from a variety of industries. Technology incubators account for 39% of incubation programs. One example of a specialized type of incubator is a bio-incubator. Bio-incubators specialize in supporting life science-based startup companies. Entrepreneurs with feasible projects in life sciences are selected and admitted for these programs. Page 5 of 10
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The NpA Incubator: Executive Summary & Start-Up Budget 2018

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