Contact:
Linda Knopp
Communications Manager
National Business Incubation Association
(740) 593-4331
lknopp@nbia.org

Executives Discuss Future of Business Incubation Industry

November 30, 2006

ATHENS, Ohio – What changes are in store for the business incubation industry in coming years? What are the must-have skills for incubator managers of the future? Those are just two of the topics addressed by 30 longtime incubator executives who met in Denver last month during the National Business Incubation Association’s first-ever Summit for Advanced Incubation Professionals.

Business incubation programs like those represented at the summit catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful. In 2001 alone, North American incubators assisted more than 35,000 start-up companies that provided full-time employment for nearly 82,000 workers and generated annual revenue of more than $7 billion.

NBIA invited members with more than five years of experience in the industry to participate in the two-day summit to share experiences and discuss the industry’s past successes and future trends. The association organized the event in response to a request from seasoned incubation executives for more opportunities to interact with their similarly experienced peers.

Summit attendees said they expect outreach activities to play a key role in the business incubation industry’s future growth. That outreach includes collaboration with other economic development organizations to provide a critical mass of entrepreneur support services in a region; with other incubators that serve similar types of businesses to share resources and encourage alliances between complementary clients; and with service providers who can address the specialized needs of today’s sophisticated business models.

As businesses become more specialized, no one person can provide all of the assistance that incubator clients need, managers said. Instead, the role of incubator manager likely will evolve from that of a business counselor to that of a facilitator who can help connect clients to the internal and external resources they need to grow their businesses – whether through other regional organizations, other incubators or outside service providers.

“In many communities, incubation programs already serve as an entrepreneurial hub for business assistance,” NBIA President & CEO Dinah Adkins said. “Expect more of that as incubator managers learn to direct entrepreneurs at all stages of business development to the specific resources they need, no matter where those resources are located.”

Summit attendees said that communication among incubation professionals in communities across the country and around the world will be vital to successful collaboration. NBIA’s Summit for Advanced Incubation Professionals, expected to be an annual event, will provide a good forum for exchanging ideas and experiences among industry leaders.

NBIA plans to convene the second invitation-only summit in January 2008 for incubator executives who have been NBIA members for five years or longer.

Based in Athens, Ohio, the National Business Incubation Association is the world’s leading organization advancing business incubation and entrepreneurship. Since 1985, the association has provided industry professionals with information, education, advocacy and networking resources to bring excellence to the process of assisting early-stage companies.