Business Incubators

Business incubators are facilities that provide small businesses with affordable space, and shared support and business development services.

Incubators come in many formats, with different objectives. They may be:

• Public or not-for-profit incubators, sponsored by government and nonprofit organizations, whose primary purpose is to promote economic development.
• Private incubators, run by venture capital investment groups, or by corporations. These incubators generally seek a return on their investment, often through a stake in the firm or royalties, etc.
• Academic-related incubators, which share characteristics of the first two types, but also have objectives in faculty development, and creating business spin-offs from faculty research.
• Public/private incubators, which are joint efforts between government or other nonprofit agencies and a private developer. These offer the advantage that government funding can often be secured to support private sector expertise and funding.

Services and resources

Incubators typically offer their tenants a range of shared services, as well as access to financial and professional assistance. These services include:

• Shared services and facilities such as: administrative and secretarial services; receptionist/answering services; conference rooms; computer rooms; photocopying; word processing; telecommunications equipment and services; warehousing, shipping, and receiving.
• Management assistance, video libraries, and on-site access to consultants.
• Group purchasing for products and services such as health insurance, furniture, supplies, etc.
• Professional services such as accounting and legal resources.
• Relationships with financial institutions and venture capital funds.

Policies and eligibility

Every incubator has an entry and a ?tenant graduation? policy. Most increase rent over time. Some incubators have requirements that tenants show preference to certain target population groups.

The Faraday Center
2800 S. Fish Hatchery Road
Madison, WI 53711
608-277-2606
sleveren@promega.com
Eligibility: Preference for tenants with science, research or high technology orientation, but will accept any firm looking for office or laboratory space.
Offers competitive rent meeting spaces and unique facilities for technology development.

Genesis Enterprise Center
313 W. Beltline Highway
Madison WI 53713, 608-327-8000
E-mail: info@gecmadison.com
www.gecmadison.com
Eligibility: Start-up and expanding small businesses.
Supports small companies by offering below-market rental rates, shared services and help.

MGE Innovation Center, UW-Madison
510 Charmany Drive, Suite 275A
Madison, WI 53719 608-441-2701
www.universityresearchpark.org
ljhumphr@wisc.edu
Eligibility: Priority is given to technology-based businesses.
Provides basic shared office services. Laboratory suites available, especially for biotechnology research and development, with fume hoods, sinks, benching. Tenants can access a range of UW-Madison resources.

Madison Enterprise Center
100 S. Baldwin St.
Madison, WI 53703
608-256-6565
www.cwd.org
Eligibility: Serves light industrial and high tech start-up and expanding businesses. Women- and minority-owned businesses encouraged to apply.
Offers affordable rent, shared equipment, business assistance, conference room and access to high speed Internet.

Main Street Industries
931 E. Main St., Madison
608- 286-6246
www.cwd.org
E-mail: sarah@cwd.org.
Eligibility: Serves light industrial and high tech start-up and expanding businesses. Women- and minority-owned businesses encourages to apply. Offers shared equipment, business assistance, conference room, indoor loading dock and fiber optic communications.

T.E.C. Incubator Center
3591 Anderson St., Suite 100
Madison, WI 53704
608-243-4478
E-mail: jlalor@matcmadison.edu
Eligibility: Preference for technology-focused businesses.
Provides basic shared office services, conference rooms, high-speed Internet connection, free parking, and ease of access to business resources including the MGE Center for Entrepreneurs and service and programs offered by Madison Area Technical College.

Urban Tech Catalyst at Network 222
222 W. Washington Ave.
Madison, WI 53703, 608- 255-5060
E-mail: info@fioreco.com
www.urbantechcatalyst.com
Eligibility: An emerging growth business, product or service related to high-technology. In seed- or early-stage development. Ability to pay program fees.
Offers lease flexibility, furnished offices of various sizes, andshared office equipment and other facilities.

SOURCE: The Wisconsin Department of Commerce.
State Journal research by Danya Hooker