By guest authors Irina Patterson and Candice Arnold Irina: On average, how long does a company stay in your incubator? Stephen: It’s all over the map. The life science companies take longer. We actually don’t have a time horizon in mind for our life science companies. They’re so dependent on the underlying science and the
By guest authors Irina Patterson and Praveen Karoshi I am talking to Tim Lavengood, executive director of the Technology Innovation Center (TIC), which is a not-for-profit business incubator dedicated to supporting the growth of very early stage tech companies. Founded in 1986, the incubator is based in Evanston, Illinois.
By guest authors Irina Patterson and Candice Arnold Stephen: As far as technology, we have a database that works internally. For our needs, it’s great. It’s basically a CRM [customer relationship management] system that we developed internally. All our employees get full access to it. The mentors get limited access. The entrepreneurs get even more
By guest authors Irina Patterson and Candice Arnold Irina: Where do your applicants usually come from? Stephen: We do get pretty good coverage of the entrepreneurial opportunities coming out of Georgia Tech. That’s both the spin-out companies, which are based on intellectual property owned by Georgia Tech, and the startups being started by students, those
By guest authors Irina Patterson and Candice Arnold Irina: How many companies have been incubated in the past 12 months? Stephen: Right now, it’s about 400. When we are talking about 400, you have to understand that in the new [approach] model, the companies don’t have to be resident in my bricks-and-mortar [incubator]. I’ve got
By guest authors Irina Patterson and Praveen Karoshi Irina: How is your program funded? Art: There are a variety of financial sources that support us: We have endowments, we have sponsorships, we have gifts, we get funding from the government, and we get funding from foundations. All of that comes in to support what we
By guest authors Irina Patterson and Candice Arnold I am talking to Stephen Fleming, who is a vice president at the Georgia Institute of Technology in Atlanta, where he is currently overseeing the Enterprise Innovation Institute. The institute is focused on helping enterprises improve their competitiveness through the application of science, technology, and innovation. During fiscal
By guest authors Irina Patterson and Praveen Karoshi Irina: What sources do you use for angel financing? Art: We have a few fairly robust angel networks here. We have a couple of organized groups that are in effect almost the equivalent of an early-stage seed fund. One of them is called Smithfield Trust Company and