What is a Business Incubator
A business incubator is a concept that accelerates successful development of entrepreneurial companies by providing an array of business support resources and services. The incubator serves the needs of entrepreneurs starting a new venture as well as early stage companies facing struggles in today’s economic situation. Business incubators provide long-term opportunities for new job creation, business development and retention. Business incubation has provided solid evidence of its capacity to nurture entrepreneurial business development and, in the long-term, maintain and retain new business ventures.
Project 3810 is a Certified Incubator
The Small Business Incubator Incentives Act empowers the Oklahoma Department of Commerce to certify any established company, organization or association that seeks designation as a Certified Small Business Incubator as long as it meets the definitions of “incubator” as defined in the Act.
What are Benefits of entering a Incubator program
The State of Oklahoma provides special tax incentives for incubator clients. Project 3810 is an Oklahoma Department of Commerce certified business incubator, which qualifies resident clients that are in good standing in the incubation program or approved graduates of an incubator program for a five-year state business income tax exemption, with an additional five-year exemption for businesses that do a majority of their sales outside of Oklahoma. For more information refer to the Oklahoma Department of Commerce, http://okcommerce.gov/business/incubators/
In addition, the Incubator program reduces the risk of small business failure through mentoring, coaching, training, infrastructure, and connections.
Is your business ready for an Incubator Program
Download the Application form that explains the admission criteria. If you meet the criteria, Submit the completed form to email@example.com