In response to the rapidly growing number of incubators open for business and recent reports of incubator closings in the for-profit sector, the National Business Incubation Association today released guidelines to assist entrepreneurs in selecting a quality business incubation program.
Incubators are like any product or service on the market.
Adkins advises entrepreneurs in the market for a business incubator to scrutinize prospects carefully. We tell entrepreneurs, caveat emptor. And even if the program is a quality one, incubators are not one size fits all, so entrepreneurs need to make sure the program is going to meet their specific and unique needs. Business incubation programs catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful. There are more than 900 incubation programs in the United States, compared with only 12 in 1980.