STEPS IN BUSINESS-DEVELOPMENT INCUBATOR FORMATION
1. Specification of incubator goals. These should be coordinated with the objectives of the community and the sponsor.
2. Establishment of a local working group to take responsibility for initial work in incubator formation.
3. Assessment of local business support, in terms of training, experience, and technical expertise.
4. Analysis of local economic activity, including both entrepreneurial activity and market potential.
5. Site identification.
6. Identification of financing sources for both the facility and its tenants.
7. Creation of start-up plan.
8. Marketing and publicizing of the incubator.
9. Evaluation and redefinition of goals.