Business Incubators

Topics: Business incubator, Entrepreneurship, Types of organization Pages: 3 (758 words) Published: October 29, 2008
There are two main types of business incubators. There is non profit and for profit incubators. Now if you look closer at both I think you can break them down in to four more specific types. Under non profit there is Academic and scientific incubators as well as economic development incubators, but then for profit incubators there are private investor incubators and corporate incubators. These generic types are just classifications of all the incubators out there. Those can even be broken into many more classifications of incubators which are Mixed Portfolio Business Incubation, Technology Business Incubation, Business Incubation with University Relationships, Agri-Business Incubation, Social Business Incubation, Technology Parks, Associations and Networks. All these are a narrow overview, but the last break down would be to the industry specific Incubators. Some examples of these are Biosciences, Construction, Kitchen/Food, Internet and Retail. All of these offer different services and assistance to the companies the help, but in general Incubators offer help with accounting/financial management, marketing assistance, help with the basic business skills, strategic partners, regulatory compliance and business training programs. Though the many services that incubators offer there has been a proven 87 percent success rate. These are only companies that meet requirements by the Incubator and pass their standards. Also out of the 87 percent 84 percent stay in their local communities and create a lot of jobs. These facts are important because since 1979 75 percent of all jobs created in the United States have been created by 10 percent of small business. This will stimulate both the local and regional economy with job growth and revenues. This is emphasized because estimates show that for every 50 jobs that are created by incubator clients and/ or graduates, another 25 jobs are created in the economy. On average these clients have a sales growth of over $239,000 per...
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