Resources

.:Frequently Asked Questions:.

The Nashville Business Incubation Center is a program. Participation in this program includes
rental space in the center. Below is information on program participation.

 

WHAT IS THE SELECTION PROCESS?
WHAT IS THE SELECTION CRITERIA?
HOW LONG IS THE INCUBATION PERIOD?
WHAT KINDS OF BUSINESSES ARE ELIGIBLE?
WHAT KINDS OF BUSINESSES ARE EXCLUDED?
WHAT TYPES OF INDUSTRIES ARE INCLUDED?
WHAT ARE TENANT REQUIREMENTS?
DO I HAVE TO STAY ONE YEAR?
CAN MY PARTICIPATION BE TERMINATED IN LESS THAN A YEAR?

 

WHAT IS THE SELECTION PROCESS?

• Complete an application. Applications may be secured online or by calling the NBIC office at 615.963.7184.
• Complete a business plan. Assistance with your business plan can be secured from several organizations. Click on Links to see a list of resources to help complete your business plan. Be sure that your plan contains information included on the Checklist.
• Submit your business plan, along with the completed application. If either are incomplete you with be contacted for further information. Your business with not be considered for admission until all information is complete.
• Staff will review your plan and application. If either is incomplete you will be asked for additional. The board of directors will make a final decision regarding your business’ acceptance into the program.
• This process may take up to forty days.

WHAT IS THE SELECTION CRITERIA?
Preference is given to businesses that meet the goals of the incubation program.

• Reduced rate of unemployment
• Economic growth and development

HOW LONG IS THE INCUBATION PERIOD?

• Participants (clients) may stay at the Center a maximum of five (5) years.
• Annual lease renewal will be option of the board of directors based on recommendation from the center’s director

WHAT KINDS OF BUSINESSES ARE ELIGIBLE?

• Start-up or existing businesses
• Corporate, partnership or sole proprietorship
• Developed product or service
• For-profit and non-profit
• Non-polluting industries

WHAT KINDS OF BUSINESSES ARE EXCLUDED?

• Retail
• Branches
• Affiliates
• Franchises
• Subsidiary operations

WHAT TYPES OF INDUSTRIES ARE INCLUDED?

• Light manufacturing
• Service related

WHAT ARE TENANT REQUIREMENTS?

• Business operating permit
• Furnishings and equipment
• Insurance as described in the lease
• Utilities for rental space (except 500 sq. ft.)

DO I HAVE TO STAY ONE YEAR?

• No, you may terminate with a 60 day written notice

CAN MY PARTICIPATION BE TERMINATED IN LESS THAN A YEAR?

• Yes, with a 60 day written notice.