Incubator Tenants

Incubator Program Tenants:

To be eligible for assistant under the incubator program, all applicant must meet the following criteria: 


These tenants are new start up enterprises that have been in business less than two years.  The business is in the development stages and requires/needs assistance to ensure that they are complying with all the industry standards and professional outlines to be successful.  The Incubator tenants will be required to attend various workshop, training and development session with MBEC staff and Anchor tenants to build their business.  The Incubator program tenants can expect to be in the program three to five-years for completion.


Incubator Program Application

To apply for the Business Incubator Program an applicant business must also meet the following criteria:

APPLICATION FEE: $50.00


  Incubator Program Additional Requirements

  •  A new business or existing business in operation for less than 2 years. 


  • Business owner(s) and /or business have not previously graduated from the program.


  • Business owner(s) and /or business have not previously left the program with a debt, defaulted lease agreement, or business closure.


  • Businesses can reenter the program if they have previously left the program in good standing prior to graduating, but their total program. Involvement cannot exceed 5 years.


  • Generally compatible with the incubator community, and willingness to support and promote the incubator concept. Does not weaken or alter the


  • MBEC’s image or purpose, nor negatively impact other participants’ business operations.


  • Willingness to conduct business in an open, collaborative and cooperative fashion with the program, including regular status reports to the Program Manager and Program Coordinator.


  • Applicant should possess a rudimentary knowledge of the chosen field and be willing to acquire basic business practices before moving forward.


  •  In order to apply for the Incubator Program at the MBEC, a business must complete a program application and detailed business synopsis.


  • Businesses will be evaluated by their fit with the resources and services provided.


  • Complete a Business Plan within the first year of occupancy.  Assistance in completing the Business Plan is available through MBEC staff or a referred agency.


  • Must be organized as a sole proprietorship, corporation, Limited Liability Company, or any other recognized form of for-profit.

 

Fee For Rental Space

First year Incubator Program Companies pay .75/sq. foot. Each year, Incubator Program

Companies pay an additional .15 cents per square foot, ultimately paying 100% fair market value during the fifth year.


Market tenants (those not fitting within the traditional mission of the Incubator Program) shall pay 100 percent of Fair Market Value or a higher negotiated rate.

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