Business Incubators

The goal of business incubators is to increase the success rate of new businesses by providing technical support and reducing startup costs. Incubators generally offer low-cost lease space and/or reduced overhead expenses to new businesses by offering a way to share expenses for marketing, utilities and other operations. Firms sponsored by incubators can benefit their host communities by hiring local labor and buying supplies locally. State and local economic development agencies, not-for-profit organizations, chambers of commerce, colleges and universities, and private corporations can all operate incubators.