With an information technology company, the challenges can be even greater due to the time in which the product or service is still in its research and development stages prior to reaching the market.
That's where incubators come in, often paving the way for the business to grow to the point where it can stand on its own. Business incubation provides entrepreneurs with the expertise, networks, and tools necessary to make their ventures a success.
Incubators provide hands-on management assistance, access to financing and linkages to critical business or technical support services. They also offer entrepreneurial firms shared office services, access to equipment, and expandable space - all under one roof. An incubator's main goal is to produce successful graduates, business that are financially viable and freestanding when they graduate and leave the incubator, usually in two to three years.
The businesses being incubated today are at the forefront of developing new and innovative technologies, creating products and services that improve the quality of our lives -- on a small scale today, and on a much grander scale tomorrow. |