Sunday, April 30, 2006
Lanier Technical College in Georgia is on the verge of opening a new incubator. Read more.
The success of an incubator depends on the strength of its networks. Communities that invest in incubators as real estate developments generally fail. Cheap space and shared services are not enough to accelerate business development.
On the other hand, incubators of focus on providing quick access to business development resources -- mentoring, investment context, legal assistance, market and product development partners -- experience far higher rates of success.
That's the focus of a new incubator in Constantine, Michigan.
According to one promoter of the incubator, "Any startup business in the incubator program is offered the opportunity to take classes in business, marketing, or writing a business plan. It is all completely free of charge, courtesy of our collaboration with the state and dub you and you. We have found that it isn't the space that makes or breaks the new business. In an incubator, it is the support that keeps the business viable in most cases."
Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information.
If you are using a news reader, here is the link to syndicate this site:
Here's the link if you are a bloglines subscriber:
Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
Download some background information on me here.
Incubators in Georgia and Michigan
