In an effort to help nurture and establish new businesses, economic development organizations establish incubator or accelerator space for small start-ups. Although they vary in their structure, business incubators provide services to help young firms develop. Operational costs are kept at a minimum due to the fact that the tenants share conference rooms, kitchen space, copiers and other office equipment. Office space is expandable to accommodate growth. Young companies are limited in the amount of time they can stay in the space. Once they are established, they are required to move on to more conventional office space and allow another start-up to take their place. Incubators stimulate the formation of new ventures while promoting entrepreneurial businesses. They also provide a safe haven for businesses at their most vulnerable stage of development.
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Northeast PA is home to
the following business incubators:Carbondale Technology Transfer Center
Incorporated in March, 1995, the Carbondale Technology Transfer Center's mission is to provide technical support, business assistance, financial resources and appropriate facilities to entrepreneurs, small businesses and light industry/assembly manufacturers working with technology applications or innovative products or processes. The center also helps new firms identify the resources necessary to conduct their operations. The creation of new technology-oriented jobs has always been one of the center's major goals. For more information go to: www.4cttc.orgEast Stroudsburg University Business Accelerator
The East Stroudsburg University Business Accelerator is home to new information technology companies. The University has sought out companies that will work with students and faculty in areas such as computer science and biology. Entrepreneurial companies are encouraged to participate, since they tend to stay in the community once their businesses have expanded. For more information contact Mary Francis Postupak at: mpostupak@po-box.esu.eduInnovation Center @ Wilkes-Barre
More than an office building or a traditional business incubator, it is a place designed to unite energy, ideas, talent, and expertise. It is a concept that Great Valley residents will soon see in operation as planning continues for the Innovation Center @ Wilkes-Barre, to be located in the historic Woolworth's facility on South Main Street in Downtown Wilkes-Barre. The location close to colleges and universities allows tenants to easily access research and development resources as well as a well-trained workforce. The facility features newly renovated Class A space and is located in a KOZ (Keystone Opportunity Zone) designated area, offering tax incentives to potential tenants. 15,000 square feet of office space is available, along with 15,000 square feet of small business startup space and 30,000 square feet of retail space. For more information contact John L. Augustine III at (570) 270-grow or info@icwb.biz. Visit the center online at www.icwb.biz.
Pottsville/Schuylkill Technology Incubator
The Pottsville/Schuylkill Technology Incubator, a non-profit corporation which opened in November 2001, is located in the historic business district of downtown Pottsville, PA. They focus on Information Technology businesses but remain open for other types of business ventures. The incubator offers newly remodeled upscale office space for below market rate (as little or as much space as you need). The all-inclusive rate includes high-speed T1 Internet access, a waiting area with a receptionist to greet visitors and a fully equipped conference room. For more information go to: www.incubator-tech.com
Scranton Enterprise Center Business Incubator
Located in downtown Scranton, the second floor of the Scranton Enterprise Center (SEC) is a business incubator. Established in 2003, this state-of-the-art facility can accommodate up to 17 start-up or expanding businesses. Services include hands-on management assistance, access to financing, intensive mentoring programs and networking opportunities. For more information go to: www.scrantonenterprisecenter.com/business_incubator
"Making a living doing what you like."
Nicholas Lorenz, Honesdale High School, Wayne County.
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