Much like parents with their children, incubators give promising businesses some of the basic necessities - support, shelter and the ability to learn and grow until they are stable enough to make it on their own. Although the term sounds like a new trend, incubators have actually been around for a few decades. They grow by finding companies that have great business ideas but are lacking a little something, such as office space, or technical or legal help. How it works is simple. Also, these entrepreneurial firms are offered shared office services, access to equipment, flexible leases and expandable space.
Many incubators use classified advertisements to publicize space available within their facilities.
Incubators offer fundamental services in a wide array of areas including building management teams. They also offer more specialized services. While the majority includes technology-focused businesses, incubators come from a wide array of sectors such as manufacturing, biotechnology and even the arts. The NBIA reports that 75 percent of incubators are nonprofits while 25 percent are for-profit. Technology 2020, an Oak Ridge, Tenn., organization, helps start new technology businesses and provides assistance in maximizing their potential to create new jobs for the region.