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Business Incubator Introduction

Updated:2018-1-19 17:49:58    Source:www.tannet-group.comViews:392

Business Incubator is defined as a location in which entrepreneurs can receive pro-active, value-added support, and access to critical tools, information, education, contacts, resources and capital that may otherwise be unaffordable, inaccessible or unknown. A business incubator is a company that helps new and startup companies to develop by providing services such as management training or office space.

Types of Incubator
(1) Public or not-for-profit incubators: government and non-profit organisation, whose primary objective is to promote economic development, sponsor these.
(2) Private incubators: these are run by venture and seed capital investment groups, or by corporations and real estate development partnerships. These incubators generally seek a return on their investment.
(3) Academic-related incubators: there are started where which have academic objectives also focus on faculty development, and on creating business-spin-offs from faculty research
(4) Public/private incubators: these are joint efforts between government and non-profit agencies. This type of incubation offers the advantage that government funding can often be secured to support private sector expertise and financing.

Functions of Business Incubator
Business incubators provide many different types of practical, hands-on assistance to owners and entrepreneurs. This includes access to a network of industry leaders and business experts that startup founders may not have access to themselves.

In addition, business incubators can introduce entrepreneurs to bankers, lawyers, accountants, and venture capitalists who can help them when it comes to the financial and legal aspects of their business. And perhaps most important, they offer one-on-one coaching and mentorship that can prove invaluable to brand new entrepreneurs dealing with the rigors of business startup and ownership for the first time.

Business Incubation Assessment
Business incubation assessment process undertaken to review the incubator and business service programs included the following:
1. Review of all background information available, including financial records, agreements, reports, and previous studies;
2. Interviews with Agency staff, incubator directors and managers, San Jose State University Research Foundation staff, contractors and other stakeholders;
3. Personal interviews and completed surveys with tenants of the three incubators – Software,
4. Environmental and BioCenter (68% response rate); and
5. An Economic Impact and Revenue Analysis based on current year data.

While the priority Agency goals for evaluating the incubators are centered on job creation and economic impact, these measures are not applicable to the SD Forum and the eCenter because they focus on business resources and services not directly growing business. Their assessment needed to focus more on intangible factors such as the recognition, and visibility for the city and perceived value of the programs held by key stakeholders and customers.

Business Incubation Service
Among the most common incubator services are as follows:
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
Advisory boards and mentors
Management team identification
Help with business etiquette
Technology commercialization assistance
Help with regulatory compliance
Intellectual property management

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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