Nicole Nix

Program Manager

Partnership for Defense Innovation and
Defense and Security Technology Accelerator

www.ncpdi.org

Nicole Nix is currently a Program Manager for the technology accelerator unit of the Partnership for Defense Innovation. She is concurrently responsible for the management and direction of the program itself and for working hands-on with clients. She assists them in every aspect of start-up, corporate structuring for government contracting and providing military-specific business development support. Nicole began coaching small business owners as a Business and Procurement counselor with the Small Business Administration in Huntsville, Alabama. She then went on to become a strategic analyst with one of the consulting firms she helped launch.

If you think that incubators are just for infants requiring extra care and that angels only bring good tidings at Christmas, then you may be missing out on some valuable resources that could rocket your business to infinity and beyond. Business incubators could be just what your new business needs: accommodation with equipment and services at special starter rates and access to seed money and expert advice. According to Wikipedia.com, “Business incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts.” Originating in Batavia, New York in 1959, the concept of business incubators spread globally within a couple of decades. It is now estimated there are more than 7000 incubators worldwide. Because of technological advances, more than half of established incubation programs are known to serve virtual clients who need support but don’t require physical space. Supporting entrepreneurs helps create jobs and wealth and benefits society by building local industry clusters and revitalizing communities. According to smallbusinessnotes.com, “The most common types of firms using business incubators are light manufacturing, technology and service firms and those developing new products or engaged in research and development. There are a limited number of construction-related, sales and marketing, or wholesale and distribution firms using incubators.” Some businesses are considered a poor fit for incubation; for example, retail operations. Although business incubators may act as a crutch during a critical time, incubation is short—three months to five years—and business owners still need to show resourcefulness and initiative in order to be successful once independent. Businesses are therefore carefully screened for selection especially where equity stakes are involved, because venture capitalists will expect to see a positive ROI by the end of the incubation period. Results to date are impressive—according to an article in smallbusinessnotes.com, “Over 80 percent of firms that were started through an incubator are still in operation.” To turn this trend in to a competitive advantage for your organization, consider the following. Incubation works because supported businesses grow.  As such, you need to recognize when you need some incubation. If you prefer, incubate your own business by creating an advisory board. If you are big enough, create an internal business incubator. But incubation is not for everything. Incubate the right ideas and ditch the rest.