On Thursday, Nov. 17 from 2:00 to 2:30 pm e.s.t, the U.S. Economic Development Administration will hold a webinar led by the authors of the EDA funded study, “Incubating Success.” Co-authors Lawrence Monar, David Lewis, and Elise Harper-Anderson will “share best practices and discuss the findings of the study and how business incubators best help start-up companies succeed.”
One key learning, not surprisingly, was that the composition of the incubator’s advisory board matters. Even if you are not interested in seeking out an incubator, surrounding yourself with an informal advisory board made up of members with the skills identified in the study: accounting, intellectual property, general legal expertise, and a technology transfer specialist. Also, the study indicates that relationships with governmental and economic development agency representatives are also “necessary for success.” While necessity can be debated, it is undoubtedly smart business to build strong a business-support network.
If you are considering seeking out an incubator for your start-up idea, might be worth the 1/2 hour time investment to listen to the webinar (v. investing the time it will take to read the 144 page study results).
To register for the webinar, follow this link: <http://eda.us1.list-manage.com/track/click?u=e01f5dccdcdbbf9c1b38379f5&id=0a8f54e11d&e=77eb8a23e4>