UB Incubators create an environment that encourages technology-based start-ups to become independent, thriving companies. We assist with business aspects and use practical skills in our program designed to help companies survive and grow during their most vulnerable times.
Why join a UB or other business incubator?
A study done by Inc. Magazine and National Business Incubator revealed that 80 percent of new businesses fail within the first five years. Many - 52 percent - fail because of management-related problems and 48 percent fail due to lack of capital. However, start-ups affiliated with incubators are four times more likely to succeed than the national average for business success.
It's even more critical for life sciences or other companies with intensive laboratory-based activity to be part of a facility such as the UB Technology Incubator and the UB Biosciences Incubator.
WHAT DO UB INCUBATORS OFFER?
A unique and highly regarded component of the incubation program is our mentoring service. Each client has the opportunity to work with a mentor who has had related and successful experience in the company’s particular industry. The mentor is much more than an advisor; he or she provides one-on-one, in-depth guidance during much of the period the company is with the incubator.
The incubators are structured around an active advisory committee, mentors, and a network of professionals who are successful executives from private technology companies, professional practices, consulting firms, the public sector and universities. Their expertise is shared on an on-going basis with those involved with the program. The bottom line is, affiliation with one of the UB Incubators can greatly enhance a company’s credibility within the business community.
Student interns, technical experts, learned faculty members and library materials are available to assist the start-up entrepreneur. The UB Incubators also facilitate access to outside professionals, such as accountants, attorneys and consultants who are able to assist tenants at no cost or at discounted rates. We also facilitate entrée to local economic development agencies.
Regular seminars, training sessions and round table discussions are an integral part of the program. Practical topics relating to financial planning, capital acquisition, strategic business planning, and organizational development, to name a few, are taught by attorneys, bankers, consultants and other Incubator sponsors.
Incubator affiliation facilitates access to capital sources such as banks, venture capitalists, angel investors, and corporate strategic partners. Incubator professionals can help a client negotiate strategies, perform due diligence, and structure deals. The UB Incubators are affiliated with the Western New York Business Development Fund and Western New York Venture Association, which provide seed capital for area high-tech businesses.
The incubators’ state-of-the-art, multi-tenant facilities are subdivided into individual suites ranging from 200-800 square feet. You can rent multiple suites as needed. They are available as either wet-laboratory or office-space configurations, and are suitable for office activity, research and development, assembly or light manufacturing.
Wet laboratory space includes:
Each office or lab offers high-speed internet connectivity as well as access to:
Included, at no additional expense to the client:
The terms of occupancy are extremely flexible and do not involve a long-term lease commitment.
You will need a written agreement containing terms and conditions before you or your company can occupy incubator space.