One great option for up and coming businesses are the various startup incubators out there. Incubators usually will provide space, mentorship and services to help an entrepreneurs business launch. Many of them also play a large role in assisting a business with getting funding. Incubators are responsible for assisting in the start of thousands of companies each year. You will find incubators in any industry niche like arts, media, internet, fashion, manufacturing and many more.
However like anything else you have to give to get. Most incubators will charge a fee or more likely take some kind of equity in the business for their services. The great thing though is incubators are very selective. As you would imagine they receive way more applications then they can take, but if you get accepted you are in an elite group. That selection process is what puts you in an environment with many great companies and ideas.
Every incubator has an application process and usually deadlines for how many they will take in a given period. So you need to be on top of your game to get in and meet all the deadlines. Below are some of the top incubators out there to look into (these are tech based for the most part).
NYI-Poly Incubator has two locations one in Brooklyn and one in downtown Manhattan. The institute has 3 incubators 160 Varick Street, BEST, and NYC Acre. Each one has their own application process and has their own focus for what type of companies they accept. This incubator does not accept equity and takes no control in management rather they charge a fee depending on what plan you end up choosing.
One of top performing incubators in the tech industry. They now have locations in Boulder, Boston and Seattle. You can receive up to $18,000 in seed funding for your company. Right now they are accepting applications to the Seattle location, deadline is June 1st 2010.
One of the best known incubators out there Y-Combinator is a first stop for many people looking to apply to these programs. They specialize in funding early stage startups and help startups through the hardest stage which is idea to company. They are still accepting applications for 2010 until June.
Since it was founded in 2006 plug and play tech center has helped startups raise over $400 million dollars. These startups have gone on to create a total value of 2 billion dollars. If you can’t tell by the name they focus on tech companies with their services.
Located on Lehigh University in Pennsylvania the incubator has a 62,000 square foot facility. The facility is expanding and plans to offer even more resources to emerging companies in the technology space by 2011.
Founded by the creators of MySpace Slingshot Labs opened up in 2008. They take a focus on companies in the web 2.0 space and new media. As they say “our primary focus is on building companies that have engaging, disruptive, and unique approaches.
This incubator in San Jose California has consistently won awards for being one of the best out there. They have taken a focus in starting companies that pursue products in clean energy and environmental technology.
This incubator houses not only startups but some of the biggest companies out there like Yahoo and Sony. At any given time they have 30 startups working and building under the same roof. A unique opportunity however also a very competitive one.
To find more incubators or to get more information on incubators visit National Business Incubator Association.
Category: Startup Advice