FAQ’s


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What is Business Incubation?
What incubation packages are available?
How much does incubation cost?
What kind of space does The Hub offer?
How long does a business stay in The Hub?
How do we help clients get funding?
How do clients join the mentor program?
How to sign up?

What is Business Incubation?

Business incubation is a business support process that accelerates the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services. These services are usually developed or orchestrated by incubator management and offered both in the business incubator and through its network of contacts. A business incubator’s main goal is to produce successful firms that will leave the program financially viable and freestanding. These incubator graduates have the potential to create jobs, revitalize neighborhoods, commercialize new technologies, and strengthen local and national economies.

Critical to the definition of an incubator is the provision of management guidance, technical assistance and consulting tailored to young growing companies. Incubators usually also provide clients access to appropriate rental space and flexible leases, shared basic business services and equipment, technology support services and assistance in obtaining the financing necessary for company growth.

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What incubation packages are available?

Physical Incubation Package

Client Services include:

  • Physical operation space
  • Structured one-on-one consultation
  • Access to Service Provider/Mentor Network
  • Invitation to select external events
  • VOIP phone/internet access
  • Front desk support
  • Conference room use
  • Access to common area (resource library, break room)
  • Copies 50/month (unit charge for overage)
  • Utilities and janitorial service
  • 24/7 Secure access to facility

Incubation Package for Affiliates

Client Services include:

  • Structured one-on-one consultation
  • Access to Service Provider/Mentor Network
  • Invitation to select external events
  • Internet access
  • Front desk support
  • Conference room use
  • Access to common area (resource library, break room)
  • 9a.m. – 5p.m. access to common area
    (resource library, break room)
  • Copies 50/month (unit charge for overage)

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How much does incubation cost?

Physical Incubation Package

Executive Offices 1-5 $675 per mo with a $385 Security Deposit

Cubicle Offices 6-14 $600 per mo with a $320 Security Deposit

Incubation Package for Affiliates

$325 per mo

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What kind of space does The Hub offer?

Type Size # People Notes

5 Executive Offices depending upon current occupancy

8’6” x 10’6”

Comfortably fit 2-3 people

Fully furnished, fully enclosed for complete privacy with locking door

9 Offices depending upon current occupancy

8’ x 8’

Comfortably fit 2 people

Fully furnished cubicles

Conference Room

21’ x 12’

Comfortably fit 12 people

Meeting space for 14 people

Reception Area

21’ x 12’

Waiting area for 4-6 guests

Administrative Coordinator available during regular business hours to answer questions

Open Networking Area

20’x16’

Space can be configured for different size groups

Area for informal meeting, workspace, and seminars

Break Room

16’ x 10’

Seating for 3-5 people

Amenities: refrigerator, microwave, coffeemaker

Copy Area

8’ x 8’

Copy machine, shredder and other basic office amenities

 

 

 

 

 

 

 

 

 

 

 

 

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How long does a business stay in The Hub?

Contracts are signed on an annual basis. Typically clients incubate for 18 months up to a maximum of 3 years.

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How do we help clients get funding?

The Hub helps clients secure capital in a number of ways:

  • Providing proposal assistance in grant and contract applications, for example SBIR/STTRs and Emerging Technology Fund (ETF)
  • Connecting clients with angel investors (high-net-worth individual investors)
  • Working with clients to perfect venture capital presentations and connecting them to venture capitalists
  • Assistance and referrals for loan applications

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How do clients join the mentor program?

The Hub of Human Innovation Team Mentor Program (Hub TMP) consists of volunteer mentors who are recruited and selected for their experience in areas relevant to the needs of Hub Clients and for their enthusiasm for the program. Relationships between mentors and Hub Clients are formed based on the needs and preferences of the Client and the interests of the available mentors. Hub staff work with each Client toward eligibility to enter the Hub TMP, which enables the Client to work with a volunteer mentor team of 2-4 experienced individuals in a dedicated team mentoring environment.

The intake process into The Hub TMP is:

  • Conference with Hub staff – to assess seriousness and readiness for mentoring
  • Program Orientation – ventures sign agreement
  • Introduce Client Venture – to mentors at Monthly Mentor Review meeting where mentor team is formed
  • First Meeting – starts with 2 mentors, assess and begin mentoring – 15-minute presentation by ventures
  • Ongoing Meetings – keep venture moving forward, add/subtract or change mentor team members as needs develop

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How to sign up?

Click Here to download the application form.

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