by Dennis E. Powell
Incubator managers looking to the future see an unsteady economy, the pending but uncertain arrival of crowdfunding, shrinking incubator budgets and an increased reliance on angel investors as they consider the best ways of helping their clients while also keeping their program’s doors open and lights on.
The challenges are daunting. But where there are challenges, there are also opportunities, say three finance and incubation experts who have presented at recent NBIA events.
“Budgets are shrinking all over, and money for business incubation is being cut” by sponsoring stakeholders, says Bob Cohen, CEO and director of business assistance at Braintree Business Development Center in Mansfield, Ohio. “We need to look for alternative sources, revenue streams, fees for services, how to monetize the things we’re doing. This means that some of the things that we gave away, now there may need to be some charges.”
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Keywords: access to capital, client services, best practices
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