NJ Now Home to Two Soft Landings International Incubators
The National Business Incubation Association has awarded the NBIA Soft Landings International Incubator designation to the Enterprise Development Center (EDC), a business incubator operated and sponsored by the New Jersey Institute of Technology in Newark. This is the second New Jersey incubator to receive this prestigious designation: in 2009, NBIA awarded the Soft Landings designation to the Commercialization Center for Innovative Technologies (CCIT) in North Brunswick, N.J. That was CCIT’s first renewal of the designation they earned in 2007.
Through its Soft Landings program, NBIA recognizes incubation programs that are especially capable of helping nondomestic companies enter the incubator's domestic market. Both New Jersey incubators were selected for the program because of their slate of business services for nondomestic firms and their demonstrated success at helping these firms enter the U.S. market, said Randy Morris, NBIA director of membership.
Business incubation programs like the EDC and CCIT catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks, and tools they need to make their ventures successful. Incubating nondomestic firms takes more than the standard set of incubation services, however. "The Soft Landings designation recognizes an incubator's focus on welcoming nondomestic firms into its domestic market with translation services, help cutting through governmental red tape, access to capital, domestic market research, and other programs," Morris said.
Internationally-focused incubators accentuate their standard incubation services with assistance tailored specifically to nondomestic firms, including introductions to key contacts in the United States, help with intellectual property protection, immigration and visa assistance, and help finding suitable housing.
A panel of experienced incubator managers evaluates the Soft Landings applications. They award the designation on the basis of the documentation of unique support for nondomestic firms.
NBIA’s Soft Landings designations are effective for two years; programs must reapply biennially for continuing designation. There is no cap on the number of designations available in a given year or over time. A total of sixteen business incubation programs from around the world have earned the designation since NBIA began the program in 2005.
The National Business Incubation Association is the world’s leading organization advancing business incubation and entrepreneurship support. For more information about the NBIA Soft Landings program, visit www.nbia.org/member_services/soft_landings/.
The EDC and CCIT are both members of the New Jersey Incubation Network (NJBIN), a collaborative network of New Jersey’s 12 incubators. For more information about NJBIN, visit www.njbin.org.
The National Business Incubation Association (NBIA) is the world’s leading organization advancing business incubation and entrepreneurship. Each year, it provides thousands of professionals with information, education, advocacy and networking resources to bring excellence to the process of assisting early-stage companies. An elected, voting board of directors representing the world's leading incubators governs the association.
The New Jersey Business Incubation Network (NJBIN) is a collaborative state-wide community of business experts, resources and facilities dedicated to enhancing the commercial success of early-stage entrepreneurial companies, growing higher paying jobs in New Jersey and supporting the Economic Growth Strategy for the State.
Copyright © 2010 NBIA