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Unformatted text preview: Crystal Hammond UL Mark of Approval Business incubators are business assistance programs that provide entrepreneurs with an inexpensive start-up environment and a range of administrative, consulting, and networking services. In essence these programswhich may be managed by economic development agencies, local governments, for-profit businesses, or colleges and universities to serve as homes for new companies. An incubator usually houses about a dozen tenants, who stay two to three years, then gradually leave to commercial space. At their best, incubators help new firms create jobs and revive communities. Statistics indicate that incubator firms have a significantly greater chance of survival than do other start-up businesses. The world's increase in this technology-driven economy has put a damp in the incubator concept in recent years. The majority of incubator programs are focused on economic development. Underwriters Laboratories could team up with a business incubator to test the products developed by the start-...
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- Winter '11