What kind of companies are a good fit for the incubator?
The incubator supports startup and early stage companies who are at the research and development intensive phase of their growth process. The companies should be in industries that are an area of focus at Embry-Riddle Aeronautical University (ERAU).
When should my company apply to be an incubator client?
Office space is available for incubator clients on a rolling basis as companies graduate. Startups initially not requiring office space have the option of becoming an affiliate member of the incubator enabling access to a subset of resources offered to resident clients.
What criteria will be used to evaluate applicant companies?
- Technology and Industry Application: in industries that are an area of focus at ERAU
- Relationship to ERAU: commercialization license or research agreements, faculty or student founders, needing use of labs and facilities, and/or wanting access to ERAU faculty and students
- Market Opportunity: a significant, technology-based target market size and growth potential
- Capitalization: current and anticipated resources needed to get to market
- Management team: full time, dedicated effort and coachable
- Company legal structure and intellectual property portfolio status
- Job Creation: projected growth
What resources will incubator clients have access to?
- Collaborators and Subject Matter Experts: faculty and staff
- Future workforce: undergraduate and graduate student interns
- Infrastructure: furnished office space with dedicated phone and IT services
- Labs within the MicaPlex: http://erau.edu/micaplex/lab-facilities/
- University resources: Conference and meeting rooms
- Business/mail box address
- Electronic journal collection and research librarians
- Business service providers network
- Fitness Center and Pool
- Partners and Programming
- Incubator Partners: expertise in legal, accounting, IT, and venture capital investing offering some levels of pro bono services to incubator clients
- Education and Training: tailored to each client and may include assistance in customer discovery, market research and intellectual property, developing business models and plans, designing timelines and milestones for R&D, investor pitch coaching, fundraising and business growth, human resource management
- Events: founder talks, CEO forums, investor panel discussions, demo days, hackathons, and extensive networking opportunities
How will tenants transition out of the incubator?
Incubator client goals and milestones will be reviewed at least every 6 months and companies are ready to graduate when they are generating revenues through product sales or other forms of commercialization, have raised significant investments, expanded their workforce, or need substantially more space.
To apply to the MicaPlex Technology Business Incubator complete the application form.