Business Incubation

 

The incubation period is anticipated to be three years from the time the company becomes a resident of the TBI, along the way the company discusses its progress and is evaluated to continue in the incubation process. 

Residents of the TBI are encouraged to develop their own set of goals to accomplish in six month periods.  Each period the company executives meet with the TBI Board of Advisors in order to assess their progress and discuss ways in which to improve their performance and accelerate their development. 

Each month events are hosted in the TBI for entrepreneurs to network and interact with each other, with other Research Park tenants, FAU faculty and select members of the South Florida business community.  Residents are expected to attend as many of these events as possible in order to maximize the benefit of being in the incubator.

It is intended that the BoA act as mentors for the company, imparting their individual wisdom and knowledge gained from years in industry, assisting the company foresee issues and overcome challenges. 

In completing the application to join the TBI companies will be asked to identify, among other things, their own milestones and goals.  Upon acceptance into the TBI the subject company will be asked to project their milestones over a 12 month period.  The company will share with the BoA its business plan and its goals, and an initial meeting will be scheduled at which the business will be discussed in general terms, and expectations set.  A follow-up meeting will be held six months later at which the preceding six months will be reviewed, measured against the milestones.  Goals will be set for the next six months, and so on.

Ongoing assistance will include

  • Introduction to the TBI’s shared services  - accounting, for example
  • Preparation of presentations to potential investors and clients
  • Potential mentors from other fields of expertise in the community
  • Potential investors
  • Potential collaborators in the community, TBI and FAU

 

Graduation
With consistent goal achievement and company growth the Board of Advisors will recommend to the company and to the President of the Research Park that it begin preparations to graduate from the TBI.  In this case a longer range growth plan will be developed by the company, and it will be introduced to the leasing team for the Research Park at Florida Atlantic University in order that the possibility of the company expanding into the Research Park can be discussed.  In addition economic development incentives and resources will be discussed in order to ease the financial burdens associated with capital investment.
 

See our Event Calendar