Thursday, October 27, 2011

Incubating Success

Source: U.S. Department of Commerce, Economic Development Administration

Business incubation programs are designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed or orchestrated by the incubation program manager, and offered both in the incubator and through its network of contacts. A new report funded by the U.S. Economic Development Administration and conducted by the University of Michigan’s Institute for Research on Labor, Employment and the Economy; the State University of New York at Albany, the National Business Incubation Association (NBIA), and Cybergroup Inc. identifies best practices and key characteristics of successful incubators that policymakers and practitioners should know as they work to implement strategies to foster economic development.

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