The Incubator

In this incubator environment, programs will be designed to successfully develop entrepreneurs and their companies through support coordinated by the incubator manager and their contacts.

Historically, 87% of incubator graduates stay in business.* iMAGINE Alexandria will have 12-18 of these businesses thriving in its incubator program specifically designed for creatives. The length of stay will average approximately 18 months at which time graduates will be gently “lifted” from the program and “dropped” into permanent placement in the Alexandria community. These businesses can include graphic designers, copywriters, ad execs, and branding firms among others. The services provided will range from applying for loans, writing business plans, hiring, accounting and assisting with introductions to the Small Business Development Center, Chamber of Commerce, Alexandria Economic Development Partnership and other key players in our community.

As part of the incubator the participating businesses will have an invaluable network of services to use: phones, faxes, printers, receptionists, conference rooms, tech support, presentation equipment, insurance, and warehousing are among the many benefits provided.

Perhaps the most important experience to an incubator participant is the chance to “team” with other like-minded people in the industry thereby establishing solid and loyal relationships from which to draw in the future.

Graduation occurs after the tenant has completed their goals including a portfolio of work, a marketing plan and materials. Perhaps the most important benefit is the smooth transition into new commercial space. Based on statistics the majority of incubator tenants settle in their current community. Plans are on the drawing board for providing a location within the City that would cater to their needs.

Overall plans provide for the incubator to be self-sustaining through rents charged to tenants (including virtual tenants), donations and grants provided by those organizations benefiting from the work. These can include local universities, governments, the NEA, or design and creativity focused organizations.

* University of Michigan, NBIA, Ohio University and Southern Technology Council, Business Incubation Works. Athens, Ohio: National Business Incubation Association, 1997.