Located on the first floor of the Samuel H. Jones Innovation Center is Rowan University’s Technology Business Incubator. This facility, managed by the Rohrer College of Business, provides business incubation facilities and services for emerging, regional, high growth technology businesses.
Facilities include dedicated or shared (virtual tenants) Class A commercial space, with access to conference and meeting rooms, high-speed Internet and other telecommunications services, state-of-the-art printing, copier and facsimile services, plus reception and mail services.
Designed to meet the needs of even the newest entrepreneur, available space can range from one “pod” to multiple offices. Fully equipped laboratories, managed office space and office amenities, and access to an influential network of angel and venture capital investors, offer a “big company” lifestyle to small companies, ensuring that costs are kept low while service levels meet the needs of today’s business.
In addition, start-up companies thrive in a nurturing environment for growth. Each tenant company has access to extensive resources, support in developing business and technology plans, and opportunities to exhibit at conferences and venture capital showcases. Each can tap into a rich network of business resources, invaluable to a company’s development: legal, venture capital, governmental, scientific, licensing, patent, grant funding, marketing, and e-commerce resources.
Emerging technology businesses located at Rowan’s business incubator benefit not only from the cache of the premier location and affiliation with the University, but also from leveraging the assets of The Rowan Connection™ to accelerate product development and execution of their go-to market plans.
Business incubation in New Jersey is designed to support technology companies with high growth potential. Rowan’s Incubator is best categorized as a mixed-use technology incubator. This means that most of the existing tenants are technology companies.
The Rohrer College of Business Incubator is an engine for economic growth in Southern New Jersey, creating new jobs, products and services. The prospective entrepreneur should contact the Incubator Manager to discuss his/her technology and business plan. In general, companies that exhibit the potential for high revenue and personnel growth are favored.
Start-up companies considered for occupancy have been legally organized and generally show sufficient funds to support the efforts of the enterprise for at least one year. At the present time, the Incubator is 100% full. Therefore, it is necessary for entrepreneurs to apply for space months before it is anticipated that sufficient funding levels will be achieved.
Whereas most business Incubators throughout the country are housed in vacant industrial buildings or converted schools, Rowan’s Incubator was expressly designed and built as an incubator. Each entrepreneurial company has access to telephone, fax and data connections. Clustered at the Incubator’s center are shared equipment and facilities: conference rooms, and duplicating, fax and mail services.
Rowan’s Business Incubator includes two types of tenants: those who physically occupy office and/or laboratory space at the Samuel H. Jones Innovation Center, and “virtual” tenants. Virtual tenants do not occupy office space, but do gain specified Incubator privileges such as access to the Incubator’s business address, use of common facilities such as copier, fax, mail and package delivery, and resource/library with Internet-accessible computers. Virtual tenants may also use the Incubator’s conference rooms by appointment and have access to the mentoring/consulting/networking resources of the Incubator Manager.
Since the first three years of any start-up are typically the most critical, most companies should plan to take advantage of the Incubator’s affordable rent, and business services for three to four years. As businesses become self-sufficient enough to move out of the Incubator, other early-stage enterprises take their place. Graduates are encouraged to continue drawing upon the mentoring/consulting/networking resources of the Incubator Manager and tenant community, as well as The Rowan Connection™.