The Winning Workspaces Q&A column provides clarity and insight into the vast array of office and workplace alternatives that are available today which cater to a variety of lifestyle-driven needs of the business professional.
What’s a business incubator?
Another popular workspace option is the Business Incubator, which is an ideal workplace for many innovators and entrepreneurs. Business Incubators are funded and supported by universities, government agencies, or through private efforts. A Business Incubator can be designed with open, CO-working or Hot-Desk environments, as well as at enclosed, private office BC-style workspaces. The appeal of Business Incubators is that they oftentimes provide funding as well as workspace for their members.
Business Incubators are often ‘business and idea laboratories’ where the financial burden that entrepreneurs and start-ups face is alleviated to a degree, through some form and level of subsidies, freeing up the innovator to focus better on developing ‘the better widget’.
Business Incubators typically involve an application and acceptance process, where proposals and business plans are scrutinized, as are performance and deliverables, in order to maintain a space in the Business incubator community. This works for some, and is beyond reach for others who are not chosen or refrain from such a relationship. But it’s great option if it suits your objective. For those interested in exploring business incubator opportunities, they should look up on-line the business incubators near them, or in the area they wish to be at.
Ray Lindenberg is a 20-year workspace industry leader, historian and consultant. He is Director of Branding and Marketing at Select Office Suites and can be reached at ray@winningworkspaces.org or at (888) 692-7353, ext. 2.
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