Asheville-Buncombe Technical Community College
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The Business Incubator program at Asheville-Buncombe Technical Community College is designed to provide companies maximum flexibility while working closely with them to identify areas of improvement and to assist in locating needed resources. The Business Incubator program is for a term of two years for most companies to grow in the incubator and then relocate into the surrounding community.
What is Incubation? | Business Incubator Founders | Student Business Incubator Program
How to Apply
For those interested in applying for the program, a completed business plan must be submitted. This plan must show the ability of the company to become self-sustaining by the end of the two years.
For biotechnology or light manufacturing companies with a significant capital investment, there is the possibility to complete the two-year incubation program and obtain Partner Status. Partner Status allows the company to remain in the incubator for an additional three years in order to complete commercialization or achieve positive cash flow and return on investment.
Program Requirements
Once in the program, companies meet with incubator staff to determine benchmarking events they hope to complete in the first six months. Staff assist the company in determining the needed resources to achieve their objectives and work with them to meet those goals. The companies continue to meet with incubator staff at monthly tenant sessions, individual quarterly sessions regarding company progress, and other meetings as required or requested.
• Submit to Open Book Accounting
The company submits to open book accounting during their tenancy in the program. All information is strictly confidential, but staff need to be able to review the financials of the company with company personnel to assist in their growth and strategic planning.
• Complete Four Business Seminars
During the first year in the program the company will complete four business seminars of its choice. These seminars range from accounting and finance to marketing and personnel. The SBC in the incubator offers over 100 of these courses every year, usually lasting only three hours each. If the company needs specific course work not offered by the SBC, the SBC has the ability to hire outside consultants to give specific presentations.
• Attend Monthly Founder Meetings
Companies meet monthly for a one-hour founder meetings. These meetings are conducted to give clients a chance to network and have professionals from the community provide short presentations on services and opportunities that may be of interest to client companies.
• Attend Quarterly Company Reviews
Companies meet individually with the Executive Director of Business Development and Incubation to review company financials and business direction. These confidential sessions are intended to provide the professional support needed for success.
• Rent On-Site Office Facilities
The rent for tenant companies is graduated in order to assist them in their start-up phase.
- Wet lab offices rent for $12/sq. ft.
- Office space $8/sq. ft.
- Light manufacturing/storage for $4/sq. ft.
All rents are calculated on an annual basis. For example, a 150 sq. ft. office would rent for $120 per month, which includes all utilities.
Companies can also receive internet service for $40 per month.
The rental price for office space increases $1.25/sq. ft. every six months. Through this incremental process, the company will pay an amount equal to general market rates by the time they graduate.
The Small Business Center/Incubator at A-B Tech works with various other organizations to support the business activities of the SBC.
The incubator has partnering agreements with numerous organizations that provide additional services to the Center's clients.
Examples:
Blue Ridge Food Ventures
Blue Ridge Food Ventures is an 11,000 sq. ft. shared-use food business incubator and commercial kitchen that offers support in product development, guidance through the regulatory maze, advice on packaging and label design, and much more. Our facility also includes a Natural Products Manufacturing Facility.
We're here to help people who dream--of getting their artisan food products to market, of running a baking or catering business, or even operating their own hot dog cart! We also help individuals and small businesses that want to make natural products and herbal dietary supplements, and get them into bottles and tubes and onto store shelves.
Exsol Labs
Exsol Labs, LLC is a pre-refinement and materials processing company with a new idea -- bring innovation and creative thinking to established industries and markets. And do this in a way that honors and protects our environment and focuses attention upon recycling, reclamation, and invention. Instead of large capital intensive and environmentally stressful facilities, Exsol Labs believes that smaller, more focused and segmented facilities leave a smaller impact footprint on our environment, while at the same time yielding greater capital investment returns.
Golden Needle Acupuncture, Herbal & Medical Supply
ACUPUNCTURE, HERBAL & MEDICAL SUPPLY. We stock over 7,000 Chinese Herbs, Formulas and Alternative Medical Physician Supplies making us truly "Your One Stop Resource for Products & Information."
For more information, email SBCIncubator@abtech.edu or call 828.398.7950.