Business Innovation Center

Business Innovation Center

History:
Alaska has historically reaped great benefits from the presence of large corporations. With the recent downsizing of major industries, however, the state's future will increasingly depend on the innovations of Alaskan's small businesses. By helping small businesses succeed, business incubators directly contribute to job and tax base diversification and a sustainable community economy. Encouraging entrepreneurial activities will help the borough and the state move in to the 21st century as competitive members of the global economy.

Business Assistance Program:
The Business Innovation Center is one aspect of EDD's Business Assistance Program, which includes a Revolving Loan Fund. We provide gap financing to fund job creation. Small business fuels our economy, and accounts for most job growth. At EDD we recognize that too many new businesses fail. We provide the technical support needed to keep businesses on track. Our comprehensive package of business services are designed to address the root issues in new business failure, while supporting business success.

What is the Business Innovation Center?
The Business Innovation Center (BIC) is a small business incubator designed to provide assistance for new and expanding businesses in the Kenai Peninsula Borough. Small business incubators across the nation have dramatically lowered the failure rate of small businesses through such services as:

· Business assistance - Staff provides guidance in business plan development, strategic planning, market research, bookkeeping, office management, marketing and workforce development.

· Aid in identifying financing opportunities - Staff provides assistance in developing loan packages and information about available loan programs and potential investors.

· Tenancy space - The BIC has light manufacturing and professional office space ranging from 250 to over 1,000 square feet.

· Shared office services - Shared office amenities and lower overhead allow small business to concentrate on the business at hand, and also encourage regular interaction with each other.

· Eligible businesses - Start-up or expanding businesses are candidates for the BIC. Consideration is given to the following characteristics:

Job creation potential,

Uniqueness,

Exportability, and

Value-added production.

Business Innovation Center Services:

Space ranging from 250 to over 1,000 square feet;

Business development counseling and technical support,

Shared computer services, and DSL high speed access,

Clerical assistance,

Parking,

Office/Conference room access.

Incubator without Walls:
For existing businesses not interested in using the facility, but would still like to participate in the valuable program of the BIC, then the Incubator without Walls program provides a worthwhile option. Most BIC services can be delivered to a client on-site.

BIC Affiliate Membership:
If you need clerical services, a place to meet clients to make presentations, the use of business machines, or questions answered about business operation in general, the BIC Affiliate Membership program may suit your needs. The Affiliate Membership can help a remote or home-based business with business counseling and a professional environment for conducting business. To download an application in PDF format, please click HERE.

KPEDD also is a member of the Pacific Incubation Network.

For more information about the Business Innovation Center
please send email to: info@kpedd.org.

Other EDD Program Links:
Business Innovation Center ~ Revolving Loan Fund ~ Industry Development/Project Development
Microloan Fund ~ Starting a New Business ~ Technical Assistance (PDF Form)