Student Business Incubator Program Information
How to Apply | Eligibility Requirements | Program Requirements
Participants Will Receive:
For a minimal charge of $50* a month, students receive the following:
- Up to $5,000 for each student run business is available in grant monies
- Access to a non-interest bearing loan
- Physical space for their business
- Computer
- Consulting and technical assistance
- Access to business machines (fax, copier, scanner, printer)
- Technology support (QuickBooks, internet and phone service)
- Coaching, mentoring and individual advising
- Networking opportunities
- Conference and training room availability
- International resources and access to international incubator partners
- Assistance in obtaining financing for their business
*Financial aid available. Applicants participating in a continuing education program and not enrolled as a full-time student must pay an additional $3.90 insurance fee. Additional insurance may be required depending on the type of business involved.
Participants Will Learn:
Just like people, young businesses must go through a learning process in their beginning stages. Students accepted into the program will learn:
- How to locate financial resources
- How to effectively manage their business
- How to better understand the legal issues of small business ownership
- How to successfully market their product or service
Frequently Asked Questions
- Do businesses have to be in the SBI program for the entire 12-month period?
- What is the definition of a small business?
- Do I receive academic credit for this program if selected?
- Can students apply if they have already started a business?
- Can a student accepted into the SBI program still maintain his/her academic schedule?
- What happens after a student graduates from the SBI program?
- How could a student become disqualified from the SBI program?
- Is my idea protected during the application process?
- What happens after the 12-month incubation period?
Do businesses have to be in the SBI program for the entire 12-month period?
NO! If a student business is wildly successful, this business may be ready to move out of the SBI program within several months. It is our hope that this happens.
What is the definition of a small business?
The Small Business Administration (SBA) classifies a small business as a company with 500 or fewer employees with annual revenue under $5,000,000.
Do I receive academic credit for this program if selected?
No, this is an extracurricular program and students do not receive academic credit.
Can students apply if they have already started a business?
YES! Students who have a current business may still apply to the SBI program.
Can a student accepted into the SBI program still maintain his/her academic schedule?
YES! Both full-time and part-time students are expected to work around their existing academic or continuing education program.
What happens after a student graduates from the SBI program?
The primary goal of the SBI program is for a student to graduate after the 12-month period (or sooner) and become a permanent tenant in our Business Incubator, continue his/her business success outside the Business Incubator or position his/her business to be sold.
How could a student become disqualified from the SBI program?
Not maintaining one’s current student status (i.e. not being enrolled in a minimum of 10 hours of business related instruction time per month), engaging in illegal activities and not adhering to the program requirements are all ways in which a student could be disqualified from the program.
Is my idea protected during the application process?
Yes, as you go through the application process, your application package will be kept confidential and will only be shared with A-B Tech staff and the Student Business Incubator Program Selection Committee.
What happens after the 12-month incubation period?
The goals of the Student Business Incubator Program are:
- At the end of the 12-month period (or sooner) students will "graduate" out of the Student Business Incubator and become a tenant in our traditional Business Incubator, move into outside commercial space or position their business to be sold.
- These small businesses will become successful, self-supporting entities and will create jobs within our community.
- Graduates of the SBI will serve as mentors to future students not only at A-B Tech, but also to middle school and high school students who have expressed an interest in entrepreneurship.
For more information, contact Jill Sparks, Director, Small Business Center and Small Business Incubator,828-254-1921, Ext. 5849, jsparks@abtech.edu.
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