The National Business Incubation Association defines the five key components of business incubation as the following:
- Working with new companies,
- Screening potential clients based on set selection criteria,
- Providing comprehensive business assistance services,
- Having on-site management that coordinates the delivery of services,
- And graduating companies from the program.
Greater Gainesville has really embraced the incubator/startup relationship, and it’s ever reaching impact. Incubator/ startup relationships have been known to affect many factors within a community:
• Creating local jobs
• Fostering entrepreneurial climate
• Commercializing technology
• Diversifying local economies
• Building/accelerating local industry growth
• Retaining firms in community
• And encouraging minority or women entrepreneurship.