Business Incubators

Compiled by Minnesota Main Street February, 2013
Sources: The examples and resources listed below.

Business incubators may take many forms, all of which are intended to help start businesses or grow very small businesses into larger ones. Many towns are familiar with business incubators in industrial parks where several businesses share one building – and see cost savings by sharing facilities (such as a bathrooms, break room, receptionist, copier, etc.) which in a conventional setting they would each need to pay for their own in separate spaces.

Business incubators often provide helpful services to young businesses at low or no charge. Services may include business plan development, inventory processes, cash flow training, accounting, legal advice, marketing, or general networking with the business community, and any others that may be seen as crucial to helping the business succeed.

Examples

Red Wing Innovation Incubator

This incubator is a pilot project of Red Wing Downtown Main Street and is designed to stimulate the entrepreneurial culture in Red Wing. RWII includes both physical space for offices as well as incubator-without-walls where they help select businesses through services (aka technical assistance).  Website

Owatonna Business Incubator

Owatonna is a pioneer in fostering entrepreneurship and business innovation. Since 1988, its Business Incubator has provided space, training, loans and mentoring to more than 1,000 entrepreneurs and small business owners – a quarter of whom have started new enterprises.  Website

University of Minnesota Duluth Center for Economic Development Business Incubator

The UMD Center for Economic Development Business Incubator supports businesses that use or develop technology. Participants will have access to the tools, structure and guidance necessary to maximize the firm’s chance of success and growth.  Website

Resources

“Where the Coffee Shop Meets the Cubicle”

Co-working facilities blend the appeal of an independent environment with many of the advantages of the traditional office.
Read article here.

Cooltown Studios

A collection of resources on shared offices.  Website

Coworking Community Blog

Cafe-like community/collaboration spaces for developers, writers and independents.  Website

Comments Closed