Purpose:

To define criteria for admission to the Incubator and outline the Client requirements.

Who Qualifies?

• Start-up or early stage technology/knowledge-based companies that market products and/or services
• The beginning of a sound management and/or product development team.
• Sufficient capital to carry forward the business plan for at least 12 months.
• Realistic product development/service timeframes and financial projections demonstrating significant revenues and/or employment within the first three to five years.
• Providers of support for clients in the incubator
• Incubator personnel review all applications, and determine qualification on a case by case basis according to eligibility and requirements.
• A company, not individual, will be accepted based upon the review of an application; all interested businesses are required to complete and submit an application.
• Interested parties are required to complete an application that will be reviewed by the Incubator staff. Entry into the incubator is competitive; therefore, it is important for all individuals and businesses to be precise in describing their products and services, as well as their current financial and operational status. The Incubator's goal is to create an environment that has the tools and infrastructure required for businesses to develop, sustain, and begin to prosper within an agreed-upon time frame with the objective of having businesses graduate once they develop solid financial standing. A goal of the Incubator is to develop a synergism among clients that contributes to an entrepreneurial environment.

Admission Requirements:

• Completion of an Application and related documents
• Criteria Match
• Business Plan submission with Financials
• Final Approval

Client Requirements:

• Pay first month rent in advance along with a one-time non-refundable maintenance fee equal to one month rent.
• Other agreed upon charges are to be paid upon entry into Incubator.
• Complete and submit all other forms required by the Auburn Business Incubator.
• Provide all business documents for review when requested.

Applications will be accepted from companies that qualify as follows:

• A start-up or early stage technology/knowledge-based company marketing products and/or services
• The beginning of a sound management and/or product development team.
• Sufficient capital to carry the business plan for at least a 12 month period.
• Provides realistic financial projections.
• A desire to leverage the services offered by the Auburn Business Incubator
• Providers of support for clients in the incubator
• The potential to achieve substantial growth.