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Nonprofit -Managed Incubators <br />Business incubators can be for -profit or nonprofit. Both offer advantages and disadvantages to entrepreneurs. <br />Nonprofit incubators typically acquire funds from cities, a chamber of commerce, and/or universities. They <br />can also be standalone from universities or cities, garnering their own funding sources through grants. <br />Nonprofit incubators ask for little from their startups, typically only asking for future mentoring, data <br />tracking, and fundraising consideration. A nonprofit incubator's goal is usually focused on creating jobs <br />and promoting economic development in their region. IncubatorWorks is an example of a nonprofit run <br />incubator. It has two locations, both in the Southern Tier region of the State of New York. IncubatorWorks' <br />mission is to "promote economic development in the Southern Tier of New York through supporting <br />entrepreneurial growth and development of businesses and their creation of jobs." Information on <br />IncubatorWorks was derived from an interview with their project manager, Ashleigh Madison, an research on <br />their website: http://wwwincubatorworks.org/. <br />IncubatorWorks <br />IncubatorWorks is a nonprofit standalone incubator that is thirty years old. It has locations in Alfred, New <br />York and Corning, New York, which are approximately 60 miles apart. Corning and Alfred both have a <br />long manufacturing history, which influenced the focus of the two incubators. Both locations focus on <br />light manufacturing and clean technology. They serve a broad range of low technology to high technology <br />businesses ranging from candle -making, to clothing, to fiber optics. The two incubators have a total of 70,000 <br />square feet. The case study will focus predominantly on the incubator located in Corning, New York. <br />IncubatorWorks is unique because it is a stand alone incubator, meaning it is unaffiliated with any college <br />or university. They employ three full time and four part time staff. The three full time staff have diverse <br />backgrounds and experiences that make them well suited for the broad range of startups they serve. The <br />executive director is a CPA who has experience with startup financials. She focuses mainly on providing <br />financial advice and support. The co -executive director has experience with science and business. This <br />background gives him the ability to advise on a broad range of manufacturing issues. The program <br />manager has a background in marketing and business. She manages client and helps startups with <br />marketing. The program manager also identified groups in the region receive the least amount of support <br />to create systems for each including: the Veterans Entrepreneurship Group and Elmyria Entrepreneurs. <br />Business Incubators and the City of Ramsey 14 <br />