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Incubator Network
The Critical Role of Business Incubators
BFTP/NEP knows from long experience that the stable and nurturing
environment of a business incubator is pivotal in giving early-stage
businesses a successful start. In fact, the concept of business
incubators in Pennsylvania originated with BFTP/NEP in 1983 with what
was then called the Ben Franklin Business Incubator, which recently
moved to a larger facility and is now known as Ben Franklin TechVentures.
Since 1983, BFTP/NEP has collaborated with regional economic
development organizations to establish and support a ten-member
incubator network--an important element in Ben Franklin's strategy for
developing the technology infrastructure in the 19-county northeastern
Pennsylvania region. Collectively the member incubators have graduated
more than 80 successful companies.
Reduced operating costs are typically what draw early-stage companies
to business incubators. But tenants in Ben Franklin incubators gain so
much more than rental space. The tremendous benefits include:
- Business support services and resources tailored to
early-stage firms--including management guidance, business planning,
strategic planning and marketing counsel
- Connections to angel investors and venture capitalists
- Assistance in preparing and perfecting funding presentations
- An entrepreneurial culture that fuels innovation
- Below-market rental space rates with flexible leases
- Shared basic office services and access to equipment, conference rooms, high-speed Internet and other amenities
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