Business Incubator
 

SBA 7a Loan
Prequalification Intermediary

Proud Member

The Baldwin County Incubator Project is the result of an effort to establish a two-year Virtual Incubator Program. After this initial two-year period, the program may evolve into a traditional incubator program, with actual physical and support facilities.

An important part of the Baldwin County incubator is that small business assistance efforts already in place are not duplicated. The incubator will utilize existing small business assistance resources and resource providers in the network concept such as: SCORE, the University of South Alabama, Baldwin County Library Cooperative, Faulkner State Community College, the five Chambers of Commerce in Baldwin County, and the eight local Industrial Development Boards. Entrepreneurial services and programs that are not being provided but will be addressed by the incubator may include:

• Access to Seed/Venture Capital.
• Micro-Loans.
• Technology Transfer and Collaboration.
• Free/Discounted Professional Services.
• Technical Assistance.
• Shared Services.
• Process Development and Engineering Assistance.
• Access to Equipment and Facilities of Local Institutions.
• Product Development: Rapid Prototyping, Robotics, etc.
• Internet Access and Video Conferencing.
• Continuing Education at University of South Alabama and Faulkner State.

The goal of the program is to launch a total of 22 firms and 70 jobs will be created in the two-year operation of the virtual incubator. Since the initial idea of the Baldwin County incubator was hatched, the Alliance has launched a new Revolving Loan Fund Program, whereby the Alliance has received $250,000 in RBEG Grants that it has loaned to two start-up companies.

BCEDA staff will provide Technical assistance to coordinate services with Resource Providers, identify suitable facilities and buildings for use, by start-up companies, provide training to Resource Providers; engage in public relations speaking opportunities; coordinate requests from prospects; facilitate resource provider meetings; provide initial screening, and match certified clients with the appropriate service providers.

Professional service providers in the program will be encouraged to offer their services according to the discount schedule shown below. Each provider will then commit to at least 100 hours per year in services to certified clients of the incubator. These hours may include time put in by the partners, associates, or junior members of a firm.

In terms of logistics, entrepreneurs shall be able to access services and resources from the five Chambers of Commerce and Baldwin County Library Cooperative. The Chambers may provide:

• Small Business Start-Up Counseling and Location to meet with SCORE, SBDC, etc.
• Limited copying
• Mentoring Meetings and Workshops and other services as identified

The Library Cooperative may provide:

• Computers with Internet Access and Business Plan Software
• Small Business Related Literature

Each of the Chambers of Commerce is located in the communities where the physical facilities of the traditional incubator network were proposed.

Resource Providers for the project include but are not limited to: SCORE, USA Small Business Development Center, USA Baldwin County Campus, Faulkner State Community College, SARPC, Baldwin County Career Technology Centers, USDA, Baldwin Technology Council, Alabama Technology Network, Alabama Industrial Development Training, and the One-Stop Career Centers in Foley and Bay Minette.