Business incubators mainly nurture young ventures, helping them to survive and grow during the start-up period when they are most vulnerable. SEED IC provides a number of services to enhance the development of these startups. These services include hands-on management assistance, access to financing, intensive mentoring and networking opportunities.
The SEED IC business incubator tenants have access to shared office services, equipment, conference rooms, flexible leases, and expandable office space. These services coupled with professional management will stimulate the growth and development of new business ventures.
There are many ways that a small business can benefit from locating within a business incubator.
First, by sharing common costs associated with a running a business, the business incubator reduces the occupancy expenses for the business and therefore, the business has additional capital to utilize for development purposes.
Secondly, the business will have access to several business development tools such as networking opportunities, mentoring programs and financial assistance. The business environment created by a business incubator is one that is conducive to the growth of businesses and the entrepreneurs who run them.
A social enterprise is a business that uses entrepreneurial methods to accomplish social goals. Social enterprises can be, both, for-profit or not-for-profit and may choose to share the profits amongst the shareholders and/or feed profits to a parent charity or non-profit to enable it to fulfill more of its own social mission.
Companies that already have their own office space, but still want to utilize our services can join the program as an offsite SEEDling/incubatee. These pay a monthly services fee and have access to everything the incubator has to offer.
Generally, a SEEDling/incubatee will be in and out in three years or less which is what we like to see. Some may stay a little longer and we will let them if they are making progress, utilizing the incubation program and still have a business focus that meets our criteria. Our objective is to graduate the SEEDling/incubatee at the appropriate time when they are ready to stand on their own.
Graduation is when the SEEDling/incubatee has matured to the point that they do not need incubator assistance regularly and are ready to have their own facilities. Usually the company has product in the market and has reached a level of financial stability and employee growth that enables them to be fully functional on their own. At that point, we assist with finding sublease opportunities and access to other services that may be needed as they transition into their own space.
Graduation also takes place when a client company is acquired.