What is a Business Incubator?
Business Incubators are a new hybrid type of economic development facility that combines features of entrepreneur services, business facilitation and technology transfer:
- Facilitate commercialization of University’s innovative technologies for public use and benefit
- Educate faculty, students, and staff on what constitutes intellectual property and its timely protection
- Protect the inventors’ and University’s rights in novel technologies, copyrights, software, and marketing to the private sector
- Assist faculty, students, and staff to determine the market opportunities of their ideas and technologies
- Assist entrepreneurs in creating start-up companies
- Structure and negotiate license deals to generate revenue
- Reward inventors, departments, schools, and centers by sharing license revenue under University Policies
They have proven to be the most effective technique yet devised for creating employment, commercializing new technologies and developing local economies.
The Mission Technology Centre of Excellence (TCE) provides a physical location in which a new business can commence, coupled with entrepreneur services such as shared facilities and business space accommodating between 4 to 10 new businesses.
