Why Innovation Partners Incubation?
Experience is the Key to IPI’s Success
IPI celebrated 25 years as a recognized leader in the field of business incubation in 2011. It is difficult to measure the numbers of entrepreneurs who have directly and indirectly benefited from IPI expertise. Client businesses through the years have ranged from aquaculture to laser plotting and medical devices. We have established non-profits, conducted a successful turn-around and trained countless entrepreneurs. We have been successful in developing strategic plans for both public and private sector incubators, for technology and mixed-use applications. We have served as advisors in the fields of biotech, clean energy, Internet services, ICT, mapping and computer software. The range of experiences covers an equally broad spectrum.
- Venture Fair Development
- Biometric Technology – Department of Defense
- ICT Assessment and Modeling
- Mentorship Program Creation and Management
- Security Software Development
- Entrepreneurial Forums
- US Civilian Research & Development Foundation projects
- Incubator Development and Management
- Clean Energy Technology
- Tech Transfer and Commercialization
- International Program Management and Evaluation
The Product: Successful Business Development
Business incubators, from proposed to existing programs, can benefit significantly from our experience. IPI has been working with start-up companies since its founding, providing strategic planning and management assistance. IPI expertise includes: feasibility studies, program creation and development, management, funding (VC, Angels, grants), advisory group formation, business plans, technology transfer, manager training, mentoring and coaching.
The Team: Experts for Success in Business
IPI has built relationships with consultants around the world. We have assembled a group of the most experienced and recognized incubation professionals in the industry to comprise a cadre of expert “Partner” consultants – the IPI Team. A specialized team is tailored from this core group for each engagement, marshaling the most appropriate expertise and skills to produce the best outcome. Specialized expertise in areas such as market research, accounting, legal, audit, real estate and architecture are available through IPI’s extensive affiliation with professional networks to complement the IPI Team as needed.
Each member of the IPI Team is an independent, accomplished management consultant with an exceptional and verifiable track record of experience in developing, managing and analyzing incubator operations and new companies.
IPI Team consultants have current experience in Energy & Environment, ICT, Transportation, and Agriculture sectors and expertise in a vast array of disciplines:
- Venture finance
- Enterprise support programs including entrepreneur forums, expos and venture fairs
- Incubation program development and management
- Financial management
- Software development
- Clean technology
- Tech transfer and commercialization
- International program management and evaluation
- Market research and due diligence
Business Incubation Defined
Business incubation is a program designed to recruit, select and support early-stage entrepreneurial companies for the purpose of accelerating their growth, creating employment and aiding economic development. Entrepreneurial companies that are nurtured through their initial development when they are the most vulnerable have a greater likelihood of turning their ideas into viable businesses.
Business incubators provide an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts. Starting a business is a daunting task. Most entrepreneurs know every detail of their product or service but may lack the skills or access to resources needed to start a business. Incubators promote innovation and create jobs by providing emerging companies with business support services and resources tailored to young firms to increase their chances of success.
Proven Track Record for Success
Since Joseph Mancuso opened the first business incubator in 1959 in a Batavia, New York, warehouse, the concept has expanded.
The U.S. National Business Incubation Association estimates that in 2005 alone, North American incubators assisted more than 27,000 start-up companies that provided full-time employment for more than 100,000 workers and generated annual revenue of more than $17 billion.
NBIA also points to research showing that every dollar of public funds devoted to an incubator generates approximately $30 in local tax revenue. Member incubators have reported that 87 percent of all firms that have graduated from their incubators are still in business, while 84 percent remained in the incubator's community.
Researchers for the U.S. Economic Development Administration found that business incubators are the most effective means of creating jobs – more effective than roads and bridges, industrial parks, commercial buildings, and sewer and water projects.
infoDev, a global development program housed at the World Bank, has found that incubators can be important change agents in the innovation and entrepreneurship eco-system of developing countries. For banks, incubators offer a way of reducing risks to investing in SMEs. For policy-makers and regulators, they provide first-hand feedback on what is needed to stimulate SME start-up and growth. For universities, they offer opportunities to commercialize research and expose student entrepreneurs to the real world of business.