Where To Begin? A variety of incubators nationwide help fledgling businesses take flight.
Opinions expressed by BIZ Experiences contributors are their own.
A number of new incubators have hatched to help BIZ Experiencessinvolved in everything from technology to consumer-orientedproducts. Five programs are reviewed here; for information onothers, contact the National Business Incubation Association at(740) 593-4331.
New York
The Business Incubation Group (BIG) in New York City is anincubator with a twist: It's looking for friendly, smart anddedicated BIZ Experiencess who want a hands-on approach toassistance.
Instead of charging, BIG takes equity positions in the companiesit assists. BIG's clients can get help by renting space at theincubator's facility at a reduced rate.
Besides connecting eligible businesses with investors, BIG'sstrength lies in working with companies that are producing orselling consumer products. BIG will consider firms in all stages ofdevelopment, but expects to work intensely with only 10entrepreneurs at any one time for up to two years before openingits doors to other fledgling companies.
For more details, call (212) 966-2500, or visit BIG'sWeb site (www.bizincu.com) tocomplete the BIG intake form.
Hawaii
The Aloha State is home to the Maui Research and TechnologyCenter, which targets start-up technology companies. In order toqualify for the incubator, you must have a business plan. Servicesprovided include a receptionist, videoconferencing capabilities,meeting space, data archiving and month-to-month rents at fairmarket price. Currently, clients are incubated for three to fiveyears. Call (808) 875-2300 for more information on accessingthe incubator.
Pennsylvania
The Enterprise Center has hit the Web with a virtual incubatortargeting small businesses in West Philadelphia. Among the programsoffered are classes on operating a business, increasing andsustaining a business in a competitive environment, and thetechnology skills needed to run specific businesses. In addition tothe instruction, the online incubator will also feature acybermall. For information, call (215) 895-4000.
California
The First African Methodist Episcopal Church (FAME) Renaissanceprogram in Los Angeles will open an incubator in August under alicense with The Enterprise Center. The facility, which expects tohouse up to 25 businesses, will feature shared business services,management assistance and a computer lab. BIZ Experiencess inmultimedia, print, the visual arts and business services,who've been in business at least one year and who are based inSouth Central Los Angeles, are eligible to apply.
In addition to the incubator services, FAME has several venturecapital funds to help eligible BIZ Experiencess. The FAME RenaissanceEquity Fund targets minority-owned businesses located in theneglected areas of Los Angeles. To date, FAME has raised $15million and is seeking additional investments. The FAME RenaissanceVenture Group, a $10 million fund, mainly targets BIZ Experiencess inthe Los Angeles Empowerment zone.
Both funds aim to help BIZ Experiencess who've been unable toaccess traditional venture funds. For more information, call(323) 730-9194.
National
Net Value Holdings Inc. is a virtual incubator that offersbusiness assistance and financing to Netpreneurs in the earlieststage of developing their companies. In addition to helping withrecruiting, marketing, accounting, legalities and otherbusiness-development issues, the company plans to invest between$300,000 and $1 million in each company. The investment ranges from12 to 90 percent, and eligible firms can be eitherbusiness-to-business or business-to-consumer e-commerce companies.The ideal BIZ Experiences should have Web experience with a stronge-commerce business plan, a clear sales path and an exitstrategy.
The goal at Net Value Holdings is to help Internet businessesgrow and then create a network of connected, yet independent,companies.
