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Nonprofit -Managed Incubators <br />Both are held in different facilities and have different <br />leaders than staff at IncubatorWorks. Each group <br />helps to further the mission of IncubatorWorks, <br />while remaining separate entities. <br />Corning, New York is a small town located in the <br />Southern Tier. The town has a rich industrial past, <br />centering around glass. IncubatorWorks capitalized <br />on this history by focusing on light industry and <br />technology. To cater to these industries, they offer <br />wet/dry labs, and machinery in their facility. Other <br />than providing physical space they offer a number of <br />other services for those who just have an idea, those <br />who just started their business, and to those who <br />have a manufacturing space but don't know how to <br />propel forward. They provide virtual client services <br />to help the client create business plans to procure <br />funding from financial institutions. For clients <br />who are established, but need help moving forward <br />they can help to connect them to the right people, <br />from different manufacturers, local industrial <br />development agencies, to the Regional Economic <br />Development and Energy Corporation. <br />The Corning and Alfred IncubatorWorks are <br />part of two different startup networks, helping <br />expand the services it can offer to its clients. The <br />Corning location is part of the Southern Tier <br />Startup Alliance (STSA) is a member organization <br />of business incubators. STSA shares a similar goal <br />with IncubatorWorks, to increase the number of <br />jobs in the region by supporting scalable businesses, <br />to help diversify and strengthen the economy. It <br />is based out of Ithaca, New York and is composed <br />of fifty-five different startups. Member incubators <br />provide support and assistance to one another. For <br />example, McGovern Center at Cornell University <br />provides IncubatorWorks' clients with experienced <br />entrepreneurs in residence. These entrepreneurs give <br />advice and educational talks to IncubatorWorks' <br />to IncubaorWorks' clients. The Alfred location is <br />part of the Western Innovation Network (WIN). <br />WIN is located at the University of Buffalo, and is a <br />collaborative effort of business incubators to expands <br />entrepreneurial services, helps startups, and grows <br />wealth in the region. They encourage incubators to <br />work together to help their ventures grow quickly, <br />and achieve greater profitability. WIN provides <br />IncubatorWorks' clients with more resources and <br />offers a unique set of tax incentives for companies in <br />their earliest stages. <br />IncubatorWorks has a vast clientele ranging from <br />low to high technology. To fit the needs of its client it <br />has contracts ranging from a five year lease (typically <br />high technology), only $50 - $200 for virtual <br />consultations, and to just meeting with the client a <br />couple of times to determine if they can help their <br />business. When leasing out space they can tailor <br />to the clients needs and make a month to month <br />agreement or up to five years in residence. <br />Since IncubatorWorks is a nonprofit and stands <br />alone from a university, it acquires most of its <br />funding from grants. For additional funding <br />they have anchor tenants, similar to a mall, <br />in their facility. An anchor tenant has a more <br />permanent lease and, hopefully, brings in more <br />business. IncubatorWorks' anchor tenant is <br />Corning Incorporated. Corning Incorporated <br />is a manufacturer of glass, ceramics, and related <br />materials, primarily for industrial and scientific <br />applications. <br />IncubatorWorks defines success as helping a startup <br />to achieve their goals, which could range from <br />helping them to access funding to open their own <br />manufacturing space. They are currently gathering <br />the data, but to their best estimates they have had 30 <br />total startups graduate from each incubator location. <br />Business Incubators and the City of Ramsey 15 <br />