The Incubator Development Fund is designed to develop and grow technology-oriented business incubators around the state. TEDCO provides matching funds to qualified groups interested in developing incubator programs. This seed funding is designed to leverage other public and private investments in the incubator. TEDCO’s participation also provides leadership and technical assistance.
An application needs to be submitted to obtain funds and “payback” on the investment is expected. These dollars will be committed to further incubator activities. Other requirements include:
1 to 1 match. The match can be either operating or capital funds.
The primary use of funds must be for capital development not operations.
Both current and proposed incubators are eligible.
Both public and non-profit organizations are eligible.
No jurisdiction can receive more than $1 million in assistance in any one year.
The finance instruments may vary (e.g., debt, equity, guarantees, creative financing alternatives).
TEDCO will establish a pro-active, on-going relationship with the incubator management.
