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