Business Incubation Objectives

• To produce successful firms that will leave their entrepreneurs and their organizations financially viable and free standing

• To produce confident, successful incubator graduates who are financially well grounded and secure in their knowledge of how to run a successful business independently

Upon graduation from a business incubator, the company will have the potential to:

• Create jobs and sustain high retention rates
• Sustain stable margin growth and positive ROI (among varying other Key Performance Indicators)
• Commercialize new technologies
• Sustain high customer satisfaction levels
• Maneuver through economic downturns
• Contribute to the economy

Incubator Services

The resources and services business incubators provide vary greatly as they depend on the type of clients they serve and industry they may wish to focus on.

Over 50% of incubators in North America are mixed use, and serve predominantly technological companies, or a combination of light industrial, technological and service firms. However, incubators today do have a tendency to focus in on a specific sector, targeting in on industries such as:

• Technology
• Computer Software
• Services/Professional
• Manufacturing
• Internet
• Biosciences/life sciences
• Electronics/Microelectronics
• Telecommunications
• Computer Hardware
• Medical devices
• Wireless technology
• Healthcare technology
• Advanced materials
• Defence/homeland security
• Energy
• Environmental/clean technology
• Media
• Nanotechnology
• Construction
• Arts
• Aerospace
• Kitchen/food
• Retail
• Fashion
• Wood/forestry
• Tourism

(Source: National Business Incubation Association )

Incubator resources and services therefore include, but are not limited to:

• Appropriate office space and flexible lease rates
• Shared business services and equipment
• Technology support services
• Assistance in obtaining financing
• Management guidance and consulting
• Mentoring and training
• International trade services

Through the provision of incubator services, the likelihood of long-term success of resident businesses increases substantially.