U-Start Entrance Policies
Just four things are required to become part of the U-Start Business Incubator (and you don’t have to be part of Union College to join us). There are two types of membership: Tenant (rent space at U-Start), and Affiliate (non-rental).
- BUSINESS FOCUS: To join U-Start, you must have a focus in your proposed product or service. The mission of U-Start is to help commercialize technology, and that’s where the background and experience of the U-Start staff lie.
- BUSINESS PLAN: You are expected to have at least a 3-page draft of your Business Plan upon application. The Business Plan is a detailed roadmap of how your company expects to get its product/service to market, the size of the market, the competition, the company's advantage, and a forecast of expenditures and revenues. If you hope to secure financing or future investment, a Business Plan is a necessity. U-Start staff and mentors are available to assist in developing your final business plan upon acceptance to U-Start.
- TENANT/AFFILIATE AGREEMENT: For maximum convenience to your company, the U-Start Tenant/Affiliate agreement runs on a month-to-month basis. You are expected to carry general liability business insurance coverage while in residence. As is common in many business incubators, U-Start rental rates and yearly affiliate fees are programmed to increase gradually on an annual basis until your company graduates from U-Start.
- QUARTERLY REVIEWS: Your company is expected to participate in quarterly reviews with the U-Start staff. These reviews will help you in setting technical and commercial milestones, tracking the progress of your business, and in the identification of needs, problems, or opportunities which may require a focused response by your company.
If you want your business idea to become more than a dream, contact us today.
Call 518-631-0472 or execdir@ustartincubator.org.