Laserfiche WebLink
• 3. Existing companies will be considered for incubator occupancy if either <br /> (a) it is deemed that circumstances clearly indicate that a move to the <br /> incubator will help retain and/or create jobs in Elk River that would <br /> otherwise be lost, and if those circumstances are considered to be the <br /> result of factors other than poor management or inadequate technical <br /> skills, or (b) the aim is to begin a research and/or production effort that <br /> is new and for which there is inadequate space in the company's present <br /> facility. <br /> 4. Companies must be able to demonstrate credible projections which <br /> show significant job creation and growth. <br /> 5. Companies must have a prepared and legally acceptable stock "offering <br /> statement" prior to entry into the business incubator. <br /> 6. Companies must agree to a stock "barter" transaction whereby the <br /> EDA, building owner, and business incubator consultant would be <br /> provided company stock in lieu of services rendered <br /> 7. Upon acceptance, member companies must agree to retain operations of <br /> the company within the City of Elk River for a specified period of time. <br /> 8. Companies are required to have a completed business plan and a <br /> working product prototype prior to acceptance into the incubator. <br /> Considerations which enhance a companies eligibility for admittance to the Business <br /> • Incubator: <br /> 1. Companies are considered to have the potential of creating significant <br /> employment opportunities in Elk River in the near future, provided <br /> that such business projections are deemed to be realistic. <br /> 2. Companies are involved in higher technology or energy technology <br /> related products. <br /> eda\bincapp.doc <br /> • <br />