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• <br /> ELK RIVER BUSINESS INCUBATOR <br /> MEMBER COMPANY SELECTION GUIDELINES <br /> The primary purpose of the Business Incubator is to provide inexpensive space and support <br /> for higher technology, (start-up and existing) small companies whose success would add <br /> significantly to the growth and diversification of the City of Elk River's economic base. <br /> The Elk River Economic Development Authority (EDA) will, as its primary objective, select <br /> companies which appear to have the necessary fundamentals established to assure their <br /> future growth and success. <br /> Basic Entry Guidelines <br /> The following basic entry guidelines will be used to determine the eligibility of <br /> applicants to the Business Incubator: <br /> 1. Retail/service businesses will not be considered. <br /> 2. Businesses which compete exclusively in the local market with other similar <br /> • local businesses will not be considered. <br /> 3. Manufacturing/assembly businesses will be screened to assure,the facility is <br /> able to accommodate their intended process and byproducts. <br /> 4. Companies marketing new products/technology in the energy field are <br /> encouraged to apply. <br /> 5. Companies must be involved in product manufacturing/assembly or be high <br /> technology-service related. <br /> 6. The principals must have substantial technical and/or managerial skills, or <br /> demonstrated experience and education in the product field. <br /> 7. Companies must clearly demonstrate a need for incubator services. <br /> II. Specific Application Guidelines <br /> Evidence of the following specific guidelines is to be provided at the time of <br /> application to the Business Incubator: <br /> 1. Companies will be required to give hiring preference to persons meeting <br /> certain eligibility requirements. <br /> 2. Companies will be required to allow opportunities for local businesses to <br /> manufacture products for the company. <br /> 3. Existing companies will be considered for incubator occupancy if either (a) it <br /> is deemed that circumstances clearly indicate that a move to the incubator <br /> • will help retain and/or create jobs in Elk River that would otherwise be lost, <br /> and if those circumstances are considered to be the result of factors other <br /> than poor management or inadequate technical skills, or (b) the aim is to <br />