The Benedict College Business Development Center Incubator Program was designed to assist and nurture small businesses through the crucial stages of business development-from the growth through expansion. A cornerstone of the program is to develop minority entrepreneurs and provide them below-market-rate office space in order that they may stay in the communities they serve. The incubator is a "general purpose" incubator.
The Incubator Admission Criteria
The criteria for admission are the following:
- New and early stage business in the area
- A viable business concept
- Must have capital/means of support
- Intent to remain in the Metropolitan Business Community after "graduation."
Incubation Graduation Criteria
The criteria for graduation are the following:
- Success in achieving its objectives or product development
- Growth in revenue or earnings
- Community revitalization potential
Incubator Application Process
- Requesting in writing or person for the BDC's Business Incubator Program Packet
- Applicant returns incubator application
- The BDC staff reviews and verifies the applicant's application information
- A consultation is scheduled
- Reference check of credit and/or business references
- Application is submitted to the director for review
- Once approved, the new client and director will establish short and long term goals for the business.
- Incubator Tenant signs lease, becomes a participant in the incubator program, and moves into the BDC's office suite
For more information contact the Benedict College Business Development Center:
Office: (803) 705-4781, Fax: (803) 705-7080