Criteria for Admission to the Business Incubator as a "Start-up"

The Board and Management retain the right to alter the criteria based on the current occupancy rate and other factors. The following list constitutes the qualifications and expectations for a successful applicant. Candidates should meet the majority of these qualifiers:

• New or early stage business.
  
  
• The business should be 2 years old or less. Some businesses operating longer may be permitted if the business is going in an entirely new direction (i.e. significantly re-organizing for expansion from home-based) or the business is new to Temple.
  
  
• A specific, and realistically viable business concept, and not simply a general goal to "own my own business."
  
  
• The business is likely to survive and grow into a sustainable company and function outside the Incubator in one to four years.
  
  
• Completed Plan - Potential participants must prepare a business plan which contains, among other sections, executive summary, potential markets and size of market, growth potential, financial projections, exit strategies and best estimate of length of stay. Participants should be directly involved in the production of this important document.
  
  
• Intent to remain in the Temple Business Community after "graduation."
  
  
• Capital/Means of Support - A candidate for admission should have adequate capitalization to provide for four to six months of viable operation (to be outlined in the business plan); or if a very small operation, have sufficient means to cover office lease and personal living expenses for an extended period while business is growing. However, if the applicant obviously is in possession of capital/existing revenue adequate to acquire a commercially available office space, and space is the only concern, that route may be better suited.
  
  
• Potential to employ others.
  
  
• Business suitable to operate in the "professional office environment" and does not require a large waiting area for customers or unattended children, or extensive parking needs.
  
  
• Fit - Generally compatible with the Incubator community, and willingness to support and promote the Incubator concept. Does not weaken or alter the Incubator's image or purpose, nor negatively impact other participants' business operations.
  
  
• Some experience - The B.I. welcomes, actually gives preference to, those who need assistance and on-going support. However, the applicant should possess a rudimentary knowledge of the chosen field, and of basic business practices before moving forward.
  
  
• Willingness to conduct business in an open, collaborative and cooperative fashion with the Incubator, including regular status reports to the Executive Director.
  
  
• Limited Duplication of Existing Businesses - Entry of new businesses that closely resemble existing B.I. participants will be judged on a case-by-case basis to rule out potential conflicts. Also, the presence of a significant number of identical/similar businesses already in the community may be a limiting factor.
  
  
• Non-Profits can be considered for admission into the Incubator, but require consideration and approval by the entire Board of Directors.

Criteria for Admission to the Business Incubator as a "New Arrival"

On rare occasions offices at the Temple Business Incubator may serve as a temporary headquarters for 1-3 months for an established, major company moving to Temple, while their permanent store, factory, or facility is being built. This still fits within the Incubator's mission, in that new jobs are ultimately created and the economy of the community grows. Historically, such companies have been directly referred by the Temple Economic Development Corporation with whom they have established a working relationship. Admission is highly restricted for this category to companies that will have significant impact on the Temple community.

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