Business Incubation Program Details
A new or emerging business enterprise that is in need of support and assistance from the College, and without which, the likelihood of success of the business would be greatly diminished. Business Incubation is intended to be an economic development project with an objective of creating jobs and economic wealth by assisting emerging companies.
How to Apply
- Review eligibility guidelines and requirements.
- Complete Business Incubation Program Application
- Schedule meeting with Business Incubation program staff
Upon acceptance and signing of the office lease, program participants acknowledge that they will actively engage in the business incubation program, including adhering to open book accounting policies, providing business status reports and job creation statistics, as well as attendance at monthly and quarterly business review meetings, among others.
- Sign lease (including agreeing to open book accounting policies)
- Issue check in the amount of (1) month's rent plus a security deposit of equal amount
- Schedule first client benchmark review meeting
- Provide $1 million general liability insurance with Seminole State listed as additional insured
- Attend consulting and training sessions
- Meet monthly rent obligations
- Attend quarterly client meeting with lead business consultant, prepare financial statements (profit/loss and balance sheet), benchmark reviews and identify quarterly goals
- Provide annual business status reports (including job creation and compensation statistics)
- Provide evidence of four seminars/workshops/conferences you attended during the year