Business incubation is increasingly becoming a common practice throughout the country. While incubators are continuously popping up in major entrepreneurial hubs, they are also forming in smaller communities, where the cost of retail space is an impediment to developing businesses. By facilitating local startups, incubator spaces generate new ideas that thrive in the entrepreneurial market of West Michigan. Some incubators provide resources to help entrepreneurs bring their ideas to market.
Engineering a Community of Entrepreneur
Warren Buffett, Bill Gates and Mark Zuckerber serve as prime examples that entrepreneurship can be a very lucrative career choice. In 2011, The Kauffman Foundation estimates that the 11.9 million self-employed business owners in the United States represent only 6.5 percent of the adult population. With so much to be gained in starting a business, why is it that most Americans decide not to pursue a life as an entrepreneur? Simple answer: lack of talent, knowledge and risk.
Talent development has become a centrifuge for investment firms and individuals looking to maximize ROIs from their investments. The magnitude of great ideas has left investors overwhelmed to spend too much attention on funneling funds on many great ideas.
Michigan Green Technology and Entrepreneurship Academy
It’s rare that a university professor, postdoc or PhD student would be found listening to lectures in the confines of a classroom, yet it perfectly describes the scene at the inaugural Michigan Green Technology and Entrepreneurship Academy. Green TEA, as it is commonly referred, is an innovative program designed to launch cleantech ideas out of the university lab.