Jeff,
Been following your questions and may I offer a few comments.
The vast majority of incubators were founded to supplement regional or local economic development goals. Predominately viewed as a real estate investment, consortia underwrote incubator construction architected of 200 to 1500 square foot office spaces and shared facilities such as conference rooms, reception areas and modest eating spaces. Tenants are established corporations, partner and proprietorships and accepted based on financial capabilities to pay rent. Operating independently to pursue their business, they receive little or no advisory business help provided incubator management. These facilities are a vital service to provide lower space cost for tenants thus encouraging more rapid enterprise growth and local jobs.
The real question for the Dean is what kind of space are you trying to create? Choices are several: (1) as described above, an incubator for existing on-going businesses – known as incubators; (2) a space for enthused, dedicated faculty lead teams to move an novel idea to a point of proving feasibility and validation of an innovation that could be of commercial value – known as a proof-of-concept center; (3) quarters where the feasible innovation can be further developed, with more inside grant or venture capital to perform that task, to then leave to campus to become a company – known as an accelerator; or (4) a facility that legitimizes an enterprise that seeks expansion monies to launch a product/service marketing and selling effort – known as an office building. Four very different objectives to consider with each requiring different operating, funding sources and success outcomes.
Universities eager to move faculty or graduate student novel ideas are installing proof-of-concept (POC) centers. There faculty gain support from industry and technically experienced mentors/advisors, compete for internal grant funding of $50,000 to $75,000 dispersed upon milestone attainment. Typically, it takes 12 to 18 months to achieve – or not – feasibility to emerge ready for the development stage. An institutionally driven innovation-to development acceleration center encourages more dedicated talented people from inside or outside to achieve, another 12 months, a demonstrable commercial prototype. To this point in the enterprise evolution, these efforts are not an on-campus corporate entity. The processes, timing and advisory needs are well understood by some as reported by the Kauffman Foundation at http://www.kauffman.org/uploadedFiles/POC_Centers_01242008.pdf .
Tom Bryant's comment about NBIA is appropriate for starting the traditional "incubator." Let me know if you need more insight.
Best,
Jack Savidge
Chairman
The Proof of Concept Institute, Inc.
La Jolla, California
www.pocintitute.org
email: jsavidge@pocinstitute.org
Tel: (1) 858-454-9192
From: Entrepreneurship Division Listserv [mailto:ENTREP@AOMLISTS.PACE.EDU] On Behalf Of Dr. Zelimir (Bill) Todorovic
Sent: Tuesday, March 10, 2009 6:41 AM
To: ENTREP@AOMLISTS.PACE.EDU
Subject: Re: [ENTREP] Incubator Start-Up and Operations Guide: Seeing Assistance
I agree with Tom, NBIA is a good place to start!
I went through a similar start here in Fort Wayne (with Purdue). If you want, we can connect, and I can share with you some of my experiences and obstacles
Dr. Želimir William Todorovic
Division Chair, Entrepreneurship and Family Division, Administrative Sciences Association of Canada
Guest Editor, Journal of Entrepreneurship and Small Business
Richard T. Doermer School of Business and Management
Indiana - Purdue University, Fort Wayne
2101 E. Coliseum Blvd.
Fort Wayne, Indiana, 46805-1499
Web:http://users.ipfw.edu/todorovz/
(260) 481 6940
----- Original Message -----
Sent: Thursday, March 05, 2009 5:38 PM
Subject: Re: [ENTREP] Incubator Start-Up and Operations Guide: Seeing Assistance
Jeff:
You start with the National Business Incubation Association, which is really the global authority on the subject and the largest association of incubator professionals. NBIA has an outstanding bookstore of guidebooks at reasonable prices, and runs a couple of annual conferences that you will want to attend -- probably with your Dean. <www.nbia.org> My suggestion is to ask for Randy Morris, the Director of Membership; he'll guide you well. Tel: (740) 593-4331.
And then there are a few of us out here who have designed, developed and managed more than one incubator... LOL.
Call me if I can help more.
Trustee / Visiting Professor of Social Entrepreneurship, Newark School of Theology
Entrepreneur-Coach, Enterprise Development Center, New Jersey Institute of Technology
For a different approach to valuing the work of entrepreneurs, SEE: Valuing the Closely Held Firm by Mike Long and Tom Bryant
On Mar 4, 2009, at 6:07 PM, Jeff Lowenthal wrote:
Dear Group,
The dean of the College of Business and Technology here at Northeastern State University in Tahlequah Oklahoma is looking to start of a business incubator. He has come to me for guidance. I have no experience starting up an incubator and seeking your help.
Does anyone know where I can find a guide, directions, instructions, any information on how to set-up (and run) a business incubator? Your help if more than greatly appreciated.
Jeff
______________________________________
Dr. Jeff Lowenthal
Assistant Professor, Entrepreneurship & Management Studies
Sam Walton Free Enterprise Fellow
Director, NSU-CBT Economic Development Initiative
Northeastern State University
College of Business and Technology
700 N. Grand Ave., HHA-245
Tahlequah, Oklahoma 74464
lowentha@nsuok.edu
918-444-2922
918-458-2337 Fax
Jeff Lowenthal
vibs@earthlink.net
248-909-5333 Cell
************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!
************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!
************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!
************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here:
If you have questions or need help, please contact Dr. John Bunch
. Ventures HO!