Business Incubator Center wins industry award
The Business Incubator Center in Grand Junction has earned more recognition for its efforts to help entrepreneurs start and grow their ventures.
The center won the Dinah Adkins Incubator of the Year Award from the National Business Incubator Association. The award was presented during the NBIA conference in Boston.
“If there is such a thing as validation, this is it. Our team has put their heart and soul into the success of our clients. It’s nice to have the industry recognize it,” said Jon Maraschin, executive director of the Business Incubator Center The Business Incubator Center and Tyler Area Business Incubator in Tyler, Texas, were finalists for the Incubator of the Year Award in the general and special focus category.
The Business Incubator Center also won the Incubator of the Year Award in 1996 in the industrial and services category. Tenants and graduates of the center have won awards from the NBIA as well.
An organization with a total of more than 1,900 members in more than 60 nations, the NBIA offers educational, advocacy and networking programs that promote business incubation and entrepreneurship. The awards honor incubators, client companies and graduates that exemplify the best in the industry.
Maraschin said the Business Incubator Center remains a model for incubators around the world in bringing together so many services and programs in one place. In addition to an incubation program offering low-cost space and shared services, the center offers a commercial kitchen and revolving loan fund. A Small Business Development Center located there offers free and low-cost counseling and classes. The center also oversees a program offering tax credits for capital projects.
Over the past 25 years, the Business Incubator Center has helped launch more than 260 companies and help fund more than 330 companies. Those firms in turn have created nearly 10,500 jobs, invested more than $58 million in capital and generated more than $156 million in revenue.
More than 80 percent of the companies that have graduated from the incubation program at the center have remained in business five years later, Maraschin said.