Business Incubators Helping Grow New Venture Nationwide

The first business incubator is said to have been started in 1956 in an abandoned manufacturing complex in Batavia, NY.  The Batavia Industrial Center, founded by former hardware store manager Joseph Mancuso, offered tenants office space and access to other entrepreneurs, as well as business development experts.  New businesses, including a winery, charitable organizations and a chicken processor, soon began to take up tenancy in the center and, after seeing newly hatched chicks running around the facility, Mancuso began referring to it as an “incubator.”

From these humble beginnings, the number of business incubators nationwide has grown to approximately 1,200 according to the National Business Incubator Association (NBIA), the professional association headquartered in Athens, Ohio.

Today, incubators take many forms – from the classic model, such as the TechColumbus Incubator, to virtual incubators and business accelerators.  Support of these type programs has become critical for many state and local governments and universities seeking to attract and retain entrepreneurial talent. 

A recent article in the New York Times explores various types of incubators and offers feedback from graduates, as well as a list of questions an entrepreneur should ask before deciding to join an incubator as a tenant.  

For the full story, see the article in the New York Times by clicking here.