The mission of the Small Business Incubator is to foster regional
economic development by supporting entrepreneurs, small/disadvantaged
businesses, and businesses expanding to the CSRA area by providing
managerial & technical assistance, low office rental rates,
and shared access to basic office services and equipment.
These services are designed to allow clients to minimize the
initial high costs associated with setting up the necessary
facilities, equipment ad services for a business environment.
Business incubation is a dynamic process of business enterprise
development where emerging firms are nurtured and helped to
survive and grow during the start-up period when they are
most vulnerable. The Small Business Incubator is dedicated
to providing entrepreneurs with the support they need to grow
healthy, viable, and profitable companies.
The incubator construction was funded by a $1.1 million Economic
Development Administration (EDA) federal grant and $.4 million
from Augusta-Richmond County. The building has a total of
18,000 square feet which includes office space for nineteen
clients, manufacturing space, administrative offices, conference
room, work/copy room and break room.
SMALL BUSINESS ADVISORY
The SBI has an established Small Business Advisory Board consisting
of area business leaders with whom clients are required to
meet with on a quarterly basis. This gives clients added advantage
of their own advisory board that will provide additional perspectives
and specialized expertise. The board and management will monitor
clients' performance, progress and continued need for incubator
assistance. Clients typically will graduate from the incubator
when they outgrow the available space; their business has
achieved financial stability, or when they have completed
three years in the incubator.
Candidates will be evaluated on the value of their new business's
contribution to the economic development of the region as
well as on their business plan, their demonstrated need for
the unique products and services offered by incubator, and
their fundamental commitment to the success of their business
venture. Applicants to the incubator will be screened and
selected from entrepreneurs including downsized SRS employees,
female, minority and disadvantaged applicants.