Technology Development Centers . . .

are facilities designed to help entrepreneurs create viable businesses from their innovations. Many state governments and universities sponsor programs to promote the development of new high tech companies in their areas. Many others are privately sponsored or associated with venture funds or angel investors. These programs locate several services in one facility, sometimes called technology development centers, accelerators, or incubators. If one exists nearby, management may be well advised to explore the services the center can provide.

Some centers provide "incubator assistance" by giving entrepreneurs inexpensive space, access to university research facilities, and consulting services on a reduced-fee basis. Some even provide seed capital investment or assistance in raising money. Others assist in company promotion and in obtaining government permits and licenses. See: Incubators.