The CCIDC Business Incubator Program
Starting a business? Increase your chances of success through the CCIDC Incubator Program.
"On average, 3 out of 5 new business start-ups fail within their first 5 years. However, 4 out of 5 new businesses that start in an incubator program succeed within 5 years."
- National Business Incubation Association
How do incubators contribute to local and regional economies?
Incubator graduates create jobs, revitalize neighborhoods and commercialize new technologies, thus strengthening local, regional and even national economies.
The National Business Incubator Association estimates that in 2005 alone, North American incubators assisted more than 27,000 start-up companies that provided full-time employment for more than 100,000 workers and generated annual revenue of more than $17 billion. (Source: 2006 State of the Business Incubation Industry)
Business incubators reduce the risk of small business failures. Historically, the National Business Incubator Association member incubators have reported that 87 percent of all firms that have graduated from their incubators are still in business. (Source: Business Incubation Works)
Why are business incubators worthy of public support?
Public support for well-managed business incubation programs represents an investment in local and regional economies. Consider these returns:
- Research has shown for every $1 of public operating investment incubator clients and graduates of the National Business Incubator Association member incubators generate approximately $30 in local tax revenue alone.
- The National Business Incubator Association members have reported that 84 percent of incubator graduates stay in their communities.
Why is the CCIDC Business Incubator Program Successful?
Paul Silvis can tell you. He started Restek Corporation in the CCIDC’s Matternville incubator in 1985. Twenty years later, Restek, a manufacturer of chromatography laboratory supplies, has grown to nearly $50 million in sales with offices and distribution centers in more than 60 countries. Locally, Restek employs over 250 people.
When asked about his experience in the CCIDC Business Incubator, Paul said, "As a young entrepreneur, I did not have any practical business experience. Getting the straight scoop from our peers in various stages of business was critical to our success. Getting fatherly advice from mentors provided the support systems when we needed it the most."
The CCIDC Business Incubator Program provides essential services for the development of young firms at reduced rates including
- High Speed Internet Services
- Flexible Office Space and/or Laboratory and Research Space
- Presentation Center
- Conference Room
- Copier/Fax Machine
- Mailing/Shipping Services
- Lunch/Cafeteria Room
The Power of the CCIDC Network
Through the CCIDC’S parent company, the Chamber of Business and Industry of Centre County (CBICC), Incubator Clients have access to vital business support services, including:
- Accounting Firms
- Banking/Finance Institutions
- Insurance/Legal Firms
- IT/Telecom Service Providers
- Business Development Consultants
- Equity, Debt & Grant Funding Sources
Not ready for incubator space yet? Try our Incubator Affiliate Program.
The CCIDC Incubator Affiliate Member Program is available to entrepreneurs who are not renting space as part of the Incubator Program but want to access the program's business services and benefits. Affiliate membership is available for eligible, qualified businesses when space is not available, or for businesses that are eligible candidates but are not yet at an appropriate stage of development for occupying incubator space.
Other Sources of Information
Invent PA; Ben Franklin Technology Partners, Penn State Tech Transfer, Small Business Development Center, Industrial Modernization Center, National Business Incubator Association, SEDA-Council of Governments, Moshannon Valley Economic Development Partnership.