incubator space

incubator space

Office, industrial, or high-tech space usually owned or managed by a local government development board and intended to provide an economical and supportive environment for new business start-ups.The rental rates are usually below market,there is some sharing of services and amenities, and mentoring services are provided.The new business is usually kicked out of the nest after it reaches a certain volume of business or after it achieves a previously approved and agreed upon business plan.