• Ideal Candidates

  • Entry Criteria

  • Exit Criteria

Ideal candidates are new venture or spin-off innovators with technological product ideas or knowledge-based business concepts. CAN BE gives preference to companies possessing or developing proprietary technologies but this is not the sole criteria for selection.

Certain service-oriented businesses, such as business/financial services, are not precluded from participation. While not the original plan for the center, past market trends have shown more entrepreneurs moving into the services industry within our area than tech-related fields. CAN BE is also uniquely suited for light manufacturing companies looking for manufacturing space.

The Innovation Center is currently limited from allowing businesses requiring extensive controlled environments, laboratories, hazardous materials usage/waste generation, process water/waste generation and noise generation. Businesses and start-ups within the food production industry are a challenge that we are actively seeking funding opportunities to accommodate but are unable to do so at this time.

It is the policy of CAN BE that a business plan be submitted to CAN BE and approved by the selection committee. The applicant will have an appropriate time frame in which to correct criticisms and/or shortcomings in the feasibility/business plan, during which time CAN BE can offer assistance.

The Business Plan should illustrate:

  1. Sufficient operating resources or credible access to funding sources;
  2. A product or service that reaches the commercialization stage within the residency period; and
  3. Financial projections demonstrating a trend toward increased revenues and profitability;
  4. Commercialization potential based upon the feasibility of the technology or business concept, market potential, management expertise and the potential for financial return;
  5. A potential for the generation of jobs within three years of launch, spin-off job creation and increased community benefit/awareness;
  6. An operational feasibility/business plan delineating tasks, milestones and cash flow projections. Assistance in business plan formation can be provided through CAN BE’s portfolio of services and/or partnerships.

 

  1. The advisory committee will review business plan goals and objectives annually with the client company. The review is designed to offer support, positive reinforcement and feedback.
  2. Each tenant is required to submit an annual financial report that will be reviewed by trained individuals. CAN BE shall provide direction to the client in event that problems are discovered. At its discretion, CAN BE can request that the client submit periodic financial reports where serious cash-flows issues exist, until improvement is demonstrated.
  3. Each client is required to sign a one-year lease agreement. There is a maximum length of residency in the program that is typically three years, but in cases where the client needs a little more time, residency can be extended to up to five years. Official graduations are held for each client that successfully exits the program. Requests for extension are granted based on the participant’s continued and steady progress.
  4. A commitment and willingness to accept guidance, and involvement is required of participants in the CAN BE program.
  5. Participants must sign a service agreement contract and lease prior to entering into the incubator.

As businesses become self-sufficient enough to move out of the incubator and contribute to the economic growth of the region, other early-stage enterprises take their place. CAN DO Inc. will assist graduates in relocating to suitable space within the community.

  1. Graduates are encouraged to continue drawing upon the mentoring/consulting/networking resources of the incubator director and client community and to recommend new clients.
  2. Graduates must satisfy the program graduation reporting requirements and agree to follow up in the form of brief annual survey completion for a period of five years beyond graduation.