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Business Incubator

Mission Statement

The Institute for Entrepreneurial Success Business Incubator will serve tenant needs by offering assistance for early stage firms and the creation of new start-up businesses. The Incubator will help nurture entrepreneurial and economic development in the community by providing affordable office space, services, training, mentoring, and a network of professional advisors.

Vision
Our vision is to be 'the place to go' for a wide range of business services and/or facilities creating a beneficial atmosphere for entrepreneurs by expanding the business incubator concept throughout the Kaskaskia College district.

• What is a business incubator?
• Admission criteria
• What is included?
• Suites and fees

What is a business incubator?
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. All this assistance would be provided by the Illinois Small Business Development Center at Kaskaskia College. Ideally, a company would be ready for graduation for the program in under 2 years.

The earliest incubation programs focused on a variety of technology companies or on a combination of light industrial, technology and service firms – today referred to as mixed-use incubators. However, in more recent years, new incubators have emerged targeting industries such as food processing, medical technologies, space and ceramics technologies, arts and crafts, and software development. Incubator sponsors have also targeted programs to support micro enterprise creation, the needs of women and minorities, environmental endeavors and telecommunications.

The Kaskaskia College Institute for Entrepreneurial Success will specifically target service based companies such as industries involved with: sales, marketing, leasing, internet based business, health care, energy savings, etc. Special consideration will be given to women owned and minority owned ventures.

Admission Criteria
Prospective tenants wishing to lease space in the Institute for Entrepreneurial Success Business Incubator will be required to meet the following minimum criteria:

• Meet with the incubator manager, ISBDC Directors
• For those without a completed business plan, work with the ISBDC counselors to satisfactorily complete a business plan
• Submit company business plan for ISBDC staff review
• Final approval will be made by appointed staff/faculty of Kaskaskia College

Upon admission into the Institute for Entrepreneurial Success Business Incubator, new tenants must then complete the following steps:

• Sign and return the lease agreement and remit a check for security deposit plus first month’s rent payment.
• Submit to a criminal background check
• Provide proof of Liability Insurance & workman’s compensation if applicable as per item IX of the lease agreement.
• All business counseling is free and always confidential.
• Business counseling is available on a first-come first-serve basis with ISBDC staff members.
• Monthly meetings will be held between ISBDC counselor and tenants to discuss their progress and goals.
• Long distance phone charges, FAX fees, and copier charges will be assessed a per usage fee and billed monthly to tenant.

What is included?
All tenants will have included with their monthly rent:

• Office desk
• Office chair
• Office guest chair
• Desktop PC with inkjet printer
• Phone with voicemail
• 4 drawer vertical/locking file
• Bookcase
• 2 drawer lateral/locking file
• Access to conference room (2 hours/month included free; additional time will have a nominal fee)
• Access to classrooms and training facility

Additional services:

• 24/7 secure access to office
• Break area with vending
• Convenient access to downtown
• Customized office designs
• All utilities included
• Free parking for customers and employees
• High speed Internet access
• Janitorial, security and maintenance service
• Lease agreement easily adaptable to tenants time needs

Illinois Small Business Development Center at Kaskaskia College has been partially funded by the U.S. Small Business Administration in partnership with the Illinois Department of Commerce & Economic Opportunity and Kaskaskia College as a service to Illinois small businesses. All SBA programs are extended to the public on a nondiscriminatory basis.