Professional Education Course
Tools of the Trade: Is Your Community Ready for a Business Incubator?
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PDF version| Course Title: Tools of the Trade: Is Your Community Ready for a Business Incubator? | |
| Program ID: EDEV 1023P | Subject: Economic Development |
Sections
There are no sections available for registration to this course at this time. If you want to request an offering of this course, please contact us.
Important Course Information
Course Description
Although business incubation has been around since the 1950s, a recent wave of federal funding aimed at generating jobs and innovation, along with proven successes, has created growing community interest in business incubator development. Business incubator programs are designed to help to accelerate the development of entrepreneurial companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful.
How You Will Benefit
- Should business incubation development be part of your community economic development plan?
- Is your community ready for a business incubator?
- Should your community invest in building an incubator facility?
- What are accelerator programs vs. business incubator programs?
- What does it take to launch and implement a successful incubator program?
- How should your community fund the business incubator facility and program?
What Is Covered
2010 Course Agenda
The State of the Business Incubator Industry in Changing Times
Speaker: Nina Sawczuk
Entrepreneurs play a key role in our nation’s economy and level of competitiveness. Successful business incubation programs promote economic development by advancing entrepreneurial activities and nurturing early-stage and second-stage businesses. This session will provide you with an overview of the current state of the business incubation industry and tips for supporting emerging companies to create homegrown community wealth. Sources of knowledge and networks will be discussed including the National Business Incubation Association, the Small Business Development Centers, local Chambers of Commerce, University partnerships and other agencies.
Business Incubator Models and Examples - Best Practices in Action
Speaker: Donna Armstrong Lackey, EDFP
Speaker: Patricia Williams, CEcD
Effective economic developers need a thorough understanding of industry best practices and how to measure success. This session will present the latest information about incubator industry best practices (U.S. and international). A variety of successful business incubators models (i.e., virtual incubators, incubators without walls, private investors’ models, minority and micro-enterprise based models) will be presented.
Business Incubation and the Local Community
Speaker: Don Betts, CEcD
Creating an entrepreneurial ecosystem in your community builds support for entrepreneurs beyond the start up phase. This session discusses strategies for developing a delivery system of services for entrepreneurs. Participants will learn how to foster community involvement and position your incubator program within the broader economic development goals of your community.
Lunch On-site Program: Sponsored by Carroll Tomorrow
Tools for Building a Rock-Solid Program
Speaker: Charles Ross
What makes a business incubation program succeed in challenging times? This session will highlight the tools necessary for developing successful incubator programs such as needs assessments, feasibility assessments, business plans, site evaluations, and facility designs. It will also review other important operational considerations such as organizational structure, staffing and compensation, programs and services, marketing and client recruitment.
How to Make Your Program Financially Sustainable
Speaker: Don Betts, CEcD
Financial self-sustainability is essential to an incubation program’s long-term survival. This session will explore current programs and opportunities for raising capital and generating revenue. The presenter will provide incubation-specific tools and techniques including a sample detailed financial plan and operating budget.
Developing a Strategy for Putting Together Business Incubation Programs – Case Studies
The Cross Roads, USA case studies are lively, interactive sessions that use actual examples to help participants evaluate a local community’s level of readiness for a business incubation program in Cross Roads, USA. You will apply information gained in the course to a challenging situation as you work together to find practical and feasible solutions to a situation common to many locations.
