Q: What is an incubator?

An incubator is a facility and/or program that provides start-up companies with an environment and a variety of business support resources and services to help them grow quickly and successfully.

Q: How can I become a business incubator resident?

The first step is to find out whether your business meets the incubator requirements. If you think your business meets the incubator requirements, fill out the Qualification Form and submit an executive summary of your business plan. The information provided in the Qualification Form and executive summary will be evaluated by our Advisory Group.

Q: What are the qualifications/requirements to be an incubator resident?

• A realistic business and marketing plan reflecting the potential to grow the business and become a leading player in their market segment.
  
• Reasonable credit history and adequate financial resources to remain in business for at least six (6) months.
  
• A strong entrepreneurial management team with experience in the industry and at least one full-time employee working in the position.
  
• A match between the needs of your company and the resources available within the incubator program and the community.
  
• Not in direct competition with other incubator clients.
  
• A product or service that represents a unique technology that can create a competitive advantage.
  
• No legal claims or lawsuits pending against the business.
  
• The potential for multiple job creation at wages higher than the county average.
  
• Plans to locate in surrounding area and stay for at least three (3) years.
  

Q: How long should the executive summary be?

Business plan summaries should be no more than two (2) pages in length and include clearly marked and defined sections about: your product, target market, competitive position, management team, marketing plan, current stage of growth, funding plan, and financial summary.

Q: What if I do not meet one requirement of the DMC incubator?

Your business must meet all of the requirements to be accepted in to the incubator.

Q: I have completed the “Qualification Form” and submitted the Executive Summary of my business plan; what should I expect now?

After the submission of both the Qualification Form and executive summary of your business plan, the information provided will be evaluated by our DMC’s advisory group. It typically takes 10 – 15 business days to complete the evaluation.

If the information submitted is not complete, we will contact you via e-mail or phone to request further information. This may delay the evaluation process time.

Once the evaluation is completed, you will be contacted by the Director of the Digital Media Center to schedule a meeting.

Complete process may take up to 25 working days.

Q: What kind of businesses do you accept?

We accept start-up companies in the digital media technology industry that fully meet the incubator requirements.

Q: Does the Incubator accept only companies in certain technology areas?

No. We consider companies in all areas of technology as long as they meet our admission criteria.

Q: What is the square footage of the Incubator offices?

Offices range from 120 sq. feet to 265 sq. feet

Q: How much is the rent and what does it include?

Rent is $1.70 per square foot. The rent includes business support resources and services including completely furnished office space, internet, utilities, counseling, mentoring and use of amenities such as conference room, multi-purpose room, lounge, etc. Residents are responsible for their own phone service from a commercial provider of their choice. Use of copier, fax and scanner is also available at a nominal charge.

Q: How long is the lease?

The lease is for one year. At the end of the lease, we re-evaluate together whether the partnership between the resident and the incubator is beneficial to both and whether or not to renew the lease.
Businesses can lease more office space as their company grows; we are flexible in accommodating if space is available.

Q: How long can a resident stay in the Incubator?

Generally a resident will be in and out in 3 years or less which is what we require and like to see.

Q: I have been in business for a few months; do I qualify?

If your business is in the early stages of business development you may qualify. However you must meet the incubator requirements.

Q: I have been in business for many years; do I qualify?

If your company has been in business for many years (i.e. 7 years), you may qualify if your company is going through a substantial restructuring, launching a new business project, or is a new division or subsidiary of your existing business. However you must meet the incubator requirements.

Q: I do not have a business plan; can I complete the “Qualification Form”?

It is required to submit the executive summary of your business plan. The DMC’s advisory group will not evaluate your qualification form unless the executive summary is attached to it.

Q: Can I rent your incubator conference room for a meeting?

If you are an incubator resident of the DMC, there is no charge for using the conference room.

Q: I’d like to take a tour of the business incubator; who do I call?

Tours of the DMC are offered on the first and third Friday of every month. You need to make a reservation at http://www.dmc-works.com/tours/registration.html.

Q: What is graduation?

Graduation is when a business resident has matured to the point that they do not need Incubator assistance regularly and are ready to have their own facility. Usually the company has their product in the market and has reached a level of financial stability and employee growth that enables them to be fully functional on their own.