NBIA, NYSTAR Release Incubator Resources

There are a number of reasons why developing a business incubation program may be appropriate for your organization or community. Whether it is creating new jobs or developing and commercializing new technologies, business incubators can provide a variety of resources to help ensure that companies succeed. Two new handbooks document some of the best practices and successful business incubation models across the country.



Developing a Business Incubation Program

In Developing a Business Incubation Program: Insights and Advice for Communities, the National Business Incubation Association (NBIA) sheds light on ways to strengthen or expand business incubation programs. Because each incubator development project is different, a how-to book on the topic is not possible, NBIA states in a press release. Instead, author Kathleen Boyd spent more than a year interviewing experts and practitioners about the underlying assumptions, challenges and activities that are essential to the process.



Topics covered by the NBIA publication include understanding the incubation concept, conducting feasibility studies, business planning for the incubator, fund-raising, and implementation and start-up. Numerous sidebars, case studies and appendices, including a glossary of federal funding sources for incubator development, also are included.



The National Business Incubation Association is a private, nonprofit membership organization based in Athens, Ohio. Developing a Business Incubation Program can be purchased from NBIA Publications at http://www.nbia.org/store.



Handbook for New York State Incubators

NYSTAR argues that "a well-run incubator has an operating structure that outlines guiding principles for its management." In its handbook, the state's lead tech-based economic development agency indicates such principles should be comprised of a comprehensive understanding of an incubator's target market and other requisites such as admittance and exit rules.



The NYSTAR report includes profiles prepared by SSTI of five nationally recognized incubators to assess best practices used. The programs include the Advanced Technology Development Center in Atlanta, the Austin Technology Incubator, the Center for Emerging Technologies in St. Louis, the University of Central Florida Technology Incubator in Orlando, and the Rensselaer Polytechnic Institute Incubator Program in Troy, N.Y. In each profile, such metrics as jobs, revenues and leverage - the amount of financial impact generated compared to the amount of money expended on the incubator and its programs - are highlighted.



The Handbook for New York State Incubators further provides discussion on operating models and lists what it considers to be 10 steps critical to incubator success, regardless of mission or focus. It is available for download at: http://www.nystar.state.ny.us/Assets/pdfs/incubators.pdf