The Technology Incubator is designed to support the development and formation of technology companies. You may have an idea, but need help with certain business or technical elements to bring it to market. The Technology Incubator provides you with that support. Once you are a part of the incubator you have access to a wealth of business and education resources that will help you launch.
Reduced Barriers to Entry – The incubator environment would provide an easy start for emerging companies by offering affordable office space, access to shared equipment, meeting facilities, and on-site business and technical assistance. This lowers the overhead and operating costs during critical formative years.
- Facilitate a know-how network to address incubator companies unique needs for partnerships, suppliers, and/or potential sources of capital.
- Develop a pool of volunteers willing to serve as mentors and business counselors for incubator companies.
- To increase visibility and presence of tenant companies in the marketplace and advance their success potential. Admission to the incubator would imply an endorsement that enhances new companies statures and increase their chances to secure funding.
- To create awareness of entrepreneurs and stimulates confidence among youths to consider opportunities for business creation.
- Creation of Technology Based incubates on continuous basis.
- Help to create value added jobs and services.
- Fostering the entrepreneurial spirit.
- Developing tools for Technology Transfer.
- Promote small & medium industries.
- Assistance to existing incubatees by way of specialized services e.g patenting, “Copyright” arrangement of venture capital, helping towards marketing of products & processes. Awareness.