Business Incubator Application
Business Info:
Contact Info:
Business Organization:
Type of Business: [check all that apply]
Business Operations:
Staffing Info:
What is the business' current employment level?
What is the business' projected employment level in 5 years?
Capitalization:
What is (will be) the source of the initial capitalization? [check all that apply]
Facility Requirements:
Approximately how much space in the incubator facility is your business hoping to lease? [see incubator floor plan]
What are your projected total space requirements in:
Utility Needs
Electronic Signatures
Please check the boxes below, and initial, if you agree with the following statements:
I hereby attest that the above information is true and correct to the best of my knowledge and that I have not provided any false or misleading information in order to obtain a favorable decision on admission to the Fertile Business Incubator Program.
The Fertile Economic Development Committee (FEDC) is the primary sponsor of the Incubator Program. The program's mission is to provide an environment for the creation and growth of quality companies through incubation. As a national average, only 1% of new jobs come from companies moving into an area. The bulk of new jobs, 55%, come from existing businesses as they expand. 44% come from new businesses starting up. Therefore, the program's resources are focused on finding, helping, and encouraging incubator companies to grow into quality companies, so that they can in turn give back to our community to continue the cycle of giving for generation after generation.
Incubation by definition means nurturing through critical times. 60% of new start-ups fail within the first five years. By contrast, startup companies that go through incubators have a 90% survival rate for the first 3 years. Of the companies that successfully graduate from incubators, 87% are still in business 5 years later and, most importantly, 84% are still in the community they incubated in. That is why business incubation is important for both job creation and job retention in the City of Fertile.
Our Incubator Program is driven through a partnership between the FEDC (made up of members from the City Council and local business people who volunteer their resources and time to maintain and promote a positive business climate in the City of Fertile), the U.S. Small Business Administration (SBA) and area Chambers of Commerce. Much of the funding and time donated to the program comes from community minded individuals and citizens. Therefore, it is expected that successful incubator graduates will begin a lifetime of giving back to those who gave to them in their time of need.
I have read the Mission and Statement of Purpose of the Fertile Business Incubator Program and agree with these stated goals and objectives. If my company is offered space in the Incubator Program, I will conduct operations that are consistent with the above Mission and Statement of Purpose
Incubation by definition means nurturing through critical times. 60% of new start-ups fail within the first five years. By contrast, startup companies that go through incubators have a 90% survival rate for the first 3 years. Of the companies that successfully graduate from incubators, 87% are still in business 5 years later and, most importantly, 84% are still in the community they incubated in. That is why business incubation is important for both job creation and job retention in the City of Fertile.
Our Incubator Program is driven through a partnership between the FEDC (made up of members from the City Council and local business people who volunteer their resources and time to maintain and promote a positive business climate in the City of Fertile), the U.S. Small Business Administration (SBA) and area Chambers of Commerce. Much of the funding and time donated to the program comes from community minded individuals and citizens. Therefore, it is expected that successful incubator graduates will begin a lifetime of giving back to those who gave to them in their time of need.
I have read the Mission and Statement of Purpose of the Fertile Business Incubator Program and agree with these stated goals and objectives. If my company is offered space in the Incubator Program, I will conduct operations that are consistent with the above Mission and Statement of Purpose
Space at the Fertile Business Incubator Program is unique in several ways. First it is temporary; it is intended to lower the cost of operation for a new, small business during the initial start-up phase, or to help an existing business expand. Second, it is a learning environment that encourages business owners to interact with one another and to meet with experts and advisers in the field of entrepreneurship. Third, the program provides professional assistance for new businesses to facilitate their successful development.
Therefore, the owner of a business in the FEDC Incubator Program:
Therefore, the owner of a business in the FEDC Incubator Program:
- understands that space is temporary and continued occupancy at the center depends upon the progress of the company and the commitment of the owner to achieve progress;
- accepts that periodic reviews of his/her company's progress will be made and that he/she may be required to submit information (such as financial statements or employment statistics and projections) to the FEDC staff with which such progress can be measured (all information will be kept confidential);
- agrees to begin work on a formal Business Plan (if not already done so) upon date of occupancy, with completion of the Plan to occur within 90 days of occupancy;
- intends to take full advantage of the learning opportunities provided by the Incubator Program such as Education Sessions, Seminars & Workshops, and Consultants/Mentors.