Business Incubator

What is a Business Incubator (Development Center)?

Some prefer to refer to Business Incubators as Business Development Centers since the incubation businesses are in the development stages and to avoid being confused with incubators that are used for hatching poultry.
According to the National Business Incubators Association (NBIA), "Business incubation catalyzes the process of starting and growing companies, providing entrepreneurs with the expertise, networks, and tools they need to make their ventures successful."
Business incubators play a significant role in improving declining communities as they assist entrepreneurs to develop their ideas from the first step of the business process to the final step. The assistance offered through this type of program provides small businesses with a comprehensive and integrated range of supportive services.
By supporting entrepreneurs with this type of service, it helps to reduce their initial overhead costs, which significantly improve the survival and growth prospects of new start-up companies.

What are the objectives of a Business Incubator?

  • Economic development and generation of new jobs;
  • Marketing of research investments;
  • Property venture/real estate development;
  • Creation of entrepreneurship in transition economies;
  • Opportunities for recent graduates and/or entrepreneurs to start and operate their own business; and
  • Development of new manufacturing, technology, retail, or service productions and operations.

Klick Foundation Business Incubators:

The Klick Foundation assisted in the establishment of two Business Incubator's. The first Business Incubator was established in the City of Long Prairie (MN). The Long Prairie Incubator (Prairie Business Development Center) is now run by the city. The second was established in the City of Glenwood (Minnewaska Area).