Business Incubator

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Becoming a Client

Graduation Policy

When the firm is admitted to the Innovation Center (IC), management and tenant will discuss graduation from the IC. Discussions about graduation will also occur annually upon renewal of the rental agreement. When deciding whether it is appropriate for a firm to “graduate,” a number of considerations will be made.

How many years has the company been in the Center? Most business incubators permit clients to remain for three to five years.
Does the company still benefit from a presence in the incubator? Is there business assistance or unique services the incubator can provide that cannot be found elsewhere? Is there a lack of suitable space in the community?
Does the incubator benefit from the firm being a client? Are bills being paid in a timely manner? If the client were to leave, would the vacancy rate for the incubator rise?
Does the client need more space? Can the incubator accommodate those needs?
Does the client have needs that the incubator cannot meet? Examples might be, production, laboratory space or the use of hazardous materials.
What is their “emerging venture growth stage?” For graduation, companies should, at a minimum, be at the gate stage.
- Seed stage-The R & D phase when an idea or concept has been developed.
- Start-up stage- A marketable product exists but no products or services have yet been sold.
- Gate stage– The company begins to see early signs of sales growth.
- Expansion stage– The company attempts to “ramp up” production and sales.
- Take-off stage– The marked by break-even sales or profitability.
- Bridge stage– The final stage of maturity in which financial stability exists through well-developed controls and systems.
Does the client continuously meet or exceed milestones?
Has the company’s revenues increased substantially?
Have new jobs been created?

The graduation process will include a formal exit interview. Input for improving the incubation process will be solicited. The graduate will also be asked to sign a release form pledging to continue to provide the Innovation Center with information on their company for purposes of evaluation and marketing.

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