Thank you for your interest in the A-B Tech Business Incubation program. Below is information related to the application process as well as associated fees, required insurance, and engagement responsibilities. The Business Incubation program is managed by the A-B Tech Small Business Center.
Application Process
- Complete an online Small Business Center request for counseling form
- Meet with a member of the Small Business Center team (multiple meetings may be required)
- Submit a business plan
- Complete a Business Incubation Program Application
- Prepare to pitch to the Small Business Center advisory committee
Incubation Program Pitch
- Pitches are limited to 10 minutes and include a slide presentation. Ten minutes for Q&A will follow.
- Pitches may be in-person or virtual
- Include the following: Business Summary, Problem, Solution, Marketing/Sales, Competition, Team, Projections/Milestones/Job Creation, Business Model, Financing, Why the business wants to participate in a business incubation program (this is critical)
Administrative Requirements Of the Program
- Payment of all fees (listed below)
- Background checks on all founders completed
- Make check(s) payable to A-B Tech
- Coordinate on-boarding process with Small Business Center specialist
- Provide insurance documentation (listed below)
Insurance Requirements And Other Fees
Certificate of Insurance must list A-B Tech as a Certificate Holder Special endorsement recognizing and naming the landlord (A-B Tech) as an additional insured. Tenant shall produce evidence of its compliance with this paragraph prior to occupying the premises. Please email this certificate of insurance to sbcincubator@abtech.edu
| General Liability (each occurrence) | $1,000,000 |
|---|---|
| Fire Damage (any one fire) | $100,000 |
| Medical Expenses (any one person) | $5,000 |
| Personal Injury | $1,000,000 |
| Total General Aggregate | $2,000,000 |
Additional Fees
| Application Fee | $25.00 |
|---|---|
| Criminal Background Check | $66.50 per founder |
| First month's rent plus a security deposit equal to the first month’s rent | TBD |
| Key Security Deposit (for lost / replacement keys) | $200 |
| A-B Tech ID key card (all employees must have) | $20.00 per employee |
| A-B Tech ID key card replacements | $35 each |
Engagement Responsibilities
- Upon acceptance and signing of the residential lease, program participants acknowledge that they will actively engage in the business incubation program which includes:
- Open book accounting
- Providing business status reports and job creation statistics (economic impact)
- Attendance at founder meetings
- Participation in quarterly business review meetings
- Completion of Small Business Center economic impact surveys
- Failure to engage in business incubation programs can be cause for termination from the program and rental space.
Miscellaneous
- Although the facility is wireless, incubation program participants need to secure their own network. Most companies use ERC Broadband which provides fiber-based network services to the Western Carolina region.
- Lost/Replacement key card: $35
- Lost or replacement office key/lock: $200 (includes locksmith trip fee, service fee, parts, key manufacturing)
- Regular college operating hours for A-B Tech Enka: are 8:00 a.m. – 5:00 p.m., Monday – Friday, however, the building is always accessible to business incubation program participants.
- For participants that have multiple employees, it is recommended the founder obtain a lockbox for keys.
- Campus police are on duty 24/7 and you and your employees are encouraged to put their number in your cell phone (828) 398.7125. If you are in the building during “off-hours”, please advise the police. In case of an emergency, we want them to know you are here!
- There are occasions in which a community event is held in the A-B Tech Enka parking lot, we will try to provide as much notice as possible.
- There are a multitude of people in the building for various reasons. If there is ever any time when you encounter someone or something that seems a bit “off”, please do not hesitate to advise campus police (828) 398.7125. Not to alarm, we just need everyone to be prudent.