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10 College Business Incubators We’re Most Excited About
College campuses are ripe with innovation, as students grow through education and experimentation in school. To help foster this innovation, many colleges and universities have opened business incubators, helping students and others in their community to help make their innovative dreams a reality. Whether they’re offering tricked-out labs or incredible funding opportunities, these incubators offer a great opportunity for students who are smart (and lucky!) enough to participate. Follow along as we explore 10 of the most exciting college business incubators around today, and be sure to share your own favorites in the comments.
1. ENTREPRENEURS HALL @ THE RIT GLOBAL VILLAGE:
Entrepreneurs Hall @ The RIT Global Village
The RIT Entrepreneurs Hall is a new-to-the-world holistic entrepreneurship program that combines a residential community in the RIT Global Village, cohort entrepreneurship courses, mentoring, unique entrepreneurial coops, business mentoring, and 24/7 access to the student incubator. Students completing the program will receive a minor in entrepreneurship and have the opportunity to gain course credit for maturing a business concept.
The program will include a roughly equal mix of technology, creative, and business students. This will allow students to develop effective teams to mature new businesses and commercialize technology concepts. As student projects mature, they will be assigned an alumni/business mentor to assist them with their projects.
Course Sequence:
Student entering the program will take one class per quarter with their Entrepreneurs Hall Cohorts.[1]
Fall: Principles of Marketing (for entrepreneurs)
Winter: Entrepreneurship
Spring: Organizational Behavior (leadership for entrepreneurs)
Fall: Financial Accounting
Winter or Spring: Applied Entrepreneurship Experience
[1]: Students out on co-op may take any of these courses outside their cohort group
Exclusive Suites in Global Village
Students can live anywhere on or off campus. Students have the option of moving into the new residential community in the RIT Global Village!
Application Requirements and Information
Entry into the Entrepreneur Hall @ the RIT Global Village is competitive. Applicants should be in their sophomore or junior years. They should have a GPA of approximately 3.0 and have full time student status. Apply Now!
At Rochester Institute of Technology’s Entrepreneurs Hall, innovation is a way of life. Offering a “holistic entrepreneurship program,” this residential community has entrepreneurship at every step of the college experience. Within the community, residents get access to co-ops, mentoring, courses, and always-on access to the incubator. Students will even receive a minor in entrepreneurship as they develop their own business plans. Even students who aren’t in Entrepreneurship Hall can join other innovators at Rochester, in the Center for Student Innovation lab where they can tinker with new ideas, creating physical models and getting advice for their next steps from advisors and even other student participants.
2. BOSTON UNIVERSITY BUSINESS INCUBATION:
At Boston University, there’s an incredible array on business incubation opportunities. Boasting resources for life sciences, bio-tech, medical devices, photonics, clean energy, and engineering, BU can help to incubate businesses in just about any physical technology. Only 15 technology startups are accepted at a time, but what the program lacks in quantity, it makes up for in quality. Participants in the incubation program learn valuable lessons in entrepreneurial management, finding financing from incubator companies, modern office space, and fully permitted labs with a wide range of technical equipment and engineering resources. Boston University’s business incubator has produced numerous success stories, including HemaQuest Pharmaceuticals with two drugs in Stage 2 clinical development to treat blood disorders and viral-related cancers, as well as Modular Genetics, a biotechnology company focused on sustainable gene engineering.
Business Incubation
Boston University operates some of the finest business incubation facilities in the United States.
Located on the Charles River Campus, Boston University’s Business Incubator hosts up to fifteen technology start-up companies. The mix of companies includes Life Sciences, Bio-tech, Medical Devices, Photonics, Clean Energy and Engineering. Companies originate from within BU or from outside of BU. All companies are engaged in commercializing new technologies of importance to society and all contribute to BU’s mission to educate students in entrepreneurial management.
Financing for incubator companies is from leading venture capital firms, accredited angel investors, corporate and government sources. Companies in the incubator which originate externally to BU are held to the highest professional standards in the industry of new technology ventures. They represent the benchmark by which new companies may be compared and act as exemplary living case studies for the teaching of entrepreneurship to our students. All are professionally managed by experienced and credentialed CEO’s and founders. All are professionally funded by reputable institutional investors. All have undergone external professional due diligence by their investors. All are commercializing revolutionary technologies developed at many of the region’s leading research institutions, including BU.
The Business Incubation Program is designed to:
Facilitate the successful commercialization of revolutionary new technologies through the creation and support of new companies.
Contribute to student education in Technology Entrepreneurship and Commercialization.
Foster an entrepreneurial environment among faculty and students of the university.
Create strong interactions between Boston University and the greater Boston business and financial communities.
Contribute to economic development of the region by launching new businesses and job creation.
The program offers entrepreneurs the opportunity to leverage the business and technical resources of a major research university to accelerate product development, reduce risk and add value to their companies.
Michael Pratt
Executive Director, Business Development
Office of Technology Development
Boston University
(617) 353-4569
3. SYRACUSE STUDENT SANDBOX:
Students at Syracuse University have an incredible resource to tap into with the Syracuse Student Sandbox. This program offers resources from beginning to end, offering office space, in-house technical support, experienced mentors, and valuable funding resources. The Sandbox is designed to accelerate the process of business creation through a 12-week experiential-based program, producing either investment-ready firms or ready-to-go, revenue-generating entities. Although Syracuse offers a heavy amount of help, students are able to maintain 100% equity in their companies, making this a valuable opportunity for entrepreneurial-minded Syracuse students. Current participants include Craftistas, CrowdRouser, and Flat Shoes Tattoos.
4. ENGINEERING TRANSLATIONAL TECHNOLOGY CENTER:
At the UC Davis College of Engineering, students with high-impact, innovative ideas can find a way to speed them up into the marketplace. This incubator is all about supporting technology transfer, sharing learning experiences with students, providing professor support, and facilitating partnerships and collaborations with other groups on campus, like the UC Davis Center for Entrepreneurship. This year, the ETTC graduated its first company, Dysonics, a startup based on audio technology research. Dysonics secured $750,000 in funding from angel investors to develop products that will reproduce three-dimensional, immersive sound in headphones.
5. HARVARD INNOVATION LAB:
At the Harvard i-lab, it’s all about innovation, as participants take part in entrepreneurial activities to learn, launch, grow, and even support others in creation. The program features classes, workshops, and more, plus essential resources and advice for getting business ventures off the ground. Even established ventures can get help, with growth resources including dedicated space and focused support. Some of the i-lab’s long-term residents include mobile app ActivePepper, baby gear rental company Baby Buggle, and software developer Rover.
In partnership with the University of Alabama at Birmingham, Innovation Depot offers a facility and program for technology business development, focusing on biotechnology, life science, information technology, and technology service businesses. With a next-generation facility offering both office space and laboratory space full of amenities, it’s a great place to locate a technology startup. Successful companies currently taking part in the Innovation Depot program include Panorama Public Relations, R&D trainer Gas Technology Institute, and tech support company Radical Support.
7. STONY BROOK UNIVERSITY CALVERTON BUSINESS INCUBATOR:
This business incubator takes innovation to the water, functioning as an “economic engine” for Eastern Long Island’s aquacultural, environmental, and agricultural industries. The location of this incubator is key, as it’s right off of Long Island Sound and located close to many nature preserves. Plus, it’s within a designated NYS Empire Zone, so the incubator has benefits and incentives available to program participants, including investment tax credits, wage tax credits, and even exemption from sales tax. Within the building, you’ll find plenty of tricked-out lab space (including both fresh and salt-water access) for innovation, plus conference and event space for tenants.
8. TECH TOWN:
In the Motor City, technology startups can turn to the super-cool Tech Town incubator, a program created by Wayne State University to reignite Detroit’s entrepreneurial culture. Founded in 2000, Tech Town boasts an incredible list of resources for tech-minded entrepreneurs, including work space, access to capital, educational workshops, and guidance with business development programs, coaching, and mentoring. Entrepreneurs working with Tech Town even get access to Wayne State’s significant research, academic, and technology assets. Although decidedly urban in nature, Tech Town boasts 12 blocks, 43 acres, and a rich history: the TechOne building was once the Chevy Creative Services building, and the Corvette was designed on the building’s third floor. With nearly 300 companies working under its roof, participants in the Tech Town program contribute to the growth and livelihood of Detroit and the Wayne State University community. Even established corporations can’t resist the attraction of Tech Town: the Henry Ford Health System relocated its genetics labs to Tech Town’s research space.
9. TEENS IN TECH LABS:
This tech business incubator hits early, even before participants are in college. Founded by a 15-year-old (now 19), Teens in Tech Labs is a tech incubator for teens with Microsoft backing, and it’s designed to give young entrepreneurs a space to get their great ideas out with a whole lot of support. Nearly 1,000 young entrepreneurs have been touched by the program, through events, workshops, and conferences. Based in Mountain View, Calif., with hubs in New York City and Boston, Teens in Tech Labs has opened up its incubator to young entrepreneurs worldwide, making it possible for teens everywhere to take advantage of the tools and resources available.
10. NYU-POLY:
NYU-Poly has not one, but four business incubators, boasting incredible support for fledgling businesses in the greater New York City area. Its first, Brooklyn Enterprise on Science and Technology (BEST) helps science and technology companies grow with a student patent program, intellectual property commercialization, help from business advisors, and funding recommendations. Varick Street focuses on next-gen technology and adaptable business models, growing businesses in digital media, cleantech, and even social media and mobile apps into real life successful startups. Through NYC ACRE, NYU-Poly builds clean tech and renewable energy companies, sharing resources for physical and virtual tenants, while offering guidance and business assistance. Most recently, NYU-Poly has introduced DUMBO, a city-sponsored business incubator in Brooklyn created to support the development of technology startup businesses. Boasting an awesome view of the Brooklyn Bridge, event space, coworking areas, and plenty of guidance, DUMBO is one of the most up and coming places in the city to start a business. Participants can even take advantage of networking opportunities, discounted legal and accounting guidance, guidance from NYU-Poly faculty, and office hours with well-known entrepreneurs.
Reference:
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