Student Business Incubator Program
Participants Will Receive:
•Up to $5000 grant possible for each student run business
• Physical space for the business
• Consulting and technical assistance
• Access to business machines (fax, copier, scanner, printer)
• Technology support (Internet access)
• Coaching, mentoring and individual advising
• Networking opportunities
• Conference and training room availability
• International resources and access to international incubator partners
• Access to student research teams
• Assistance in obtaining financing for the business
Participants Will Learn:
Just like people, young businesses must go through a learning process in their beginning stages. Students accepted into the program will learn:
• How to locate financial resources
• How to develop as managers and leaders
• How to define a business model
• How to better understand the legal issues of small business ownership
• How to successfully market their product or service
Frequently Asked Questions
• What is the definition of a small business?
The Small Business Administration (SBA) classifies a small business as a company with 500 or fewer employees with annual revenue under $5,000,000.
• Do I receive academic credit for this program if selected?
No, this is a 12-month extracurricular program and students do not receive academic credit.
• Can students apply if they have already started a business?
YES! Students who have a current business may still apply to the LaunchBox program
• Can a student accepted into the LaunchBox program still maintain his/her academic schedule?
YES! Students are required to be enrolled in a minimum of nine semester hours.
• What happens after a student graduates from the LaunchBox program?
The primary goal of the LaunchBox program is for a student to graduate after the 12-month period (or sooner) and becomes a regular client in our Business Incubator, continue his/her business success outside the Business Incubator or position his/her business to be sold.
• How could a student become disqualified from the LaunchBox program?
If a student drops out of school, commits academic misconduct, or violates accepted professional conduct standards, he/she may be disqualified and removed from the program
• Is my idea protected during the application process?
Yes, as you go through the application process, your application package will be kept confidential and will only be shared with NACET staff and the Student Business Incubator Program Selection Committee.
• What happens after the 12-month incubation period?
The goals of the Student Business Incubator Program are:
- At the end of the 12-month period students will “graduate” out of the Student Business Incubator and become a client of our traditional Business Incubator, move into outside commercial space or position their business to be sold.
- These small businesses will become successful, self-supporting entities and will create jobs within our community.
- Graduates of the LaunchBox will serve as mentors to future students not only at NACET, but also to middle school and high school students who have expressed an interest in entrepreneurship.