Thursday, June 22, 2017
SERVICES» Business Incubation
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What is Business Incubation?
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Most Business incubators provide shared office space, office facilities and management services to entrepreneurial client companies.

Some Business incubators also provide management assistance, helping client companies gain access to executive level finance, marketing and management resources.

Why a Business Incubator?
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Almost all (87%) incubator start-ups remain in business for at least 10 years, according to a National Business Incubation Association (NBIA) report. This is consistent with the view that most incubator start-ups are successful.

Less than half (44%) of non-incubator start-ups survive more than four years. This is consistent with the view that most non-incubator start-ups fail.

How to apply for the MILLERIA Business Incubator Program
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Those who apply for the MILLERIA Business Incubator program, will submit an application form and a basic business description. The Director of the MILLERIA Business Incubator program will decide if the application is approved or not.

In some cases, The Director will suggest that a MILLERIA staff will write a proper business plan which shows the ability of the client company to become self-sustaining by the end the two year term.

For service companies with a significant capital investment, such as funds or proprietary trading firms, it is possible to apply for either the two-year Business Incubator Program or a Partner Status. The Partner Status allows the client company to remain in the incubator for five years in order to complete the commercialization and to achieve a positive cash flow.

For information about the MILLERIA Business Incubator program, please email us at incubation@milleria.com, or call us at +86-13826586703 and ask about our expedited service.

A representative should answer your questions within 24 hours.

The first 6 months
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Once in the Business Incubator Program, client companies meet with MILLERIA staff to define attainable benchmarking objectives that they hope to complete within the first six months.

The MILLERIA staff helps the client company to define attainable bench-marking objectives and to determine which resources they need to reach those objectives. The client company continues to meet with incubator staff, as required or requested, and at scheduled individual monthly and quarterly sessions regarding company progress.

Business Incubator Program Requirements
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During the two years, the client company submits to following requirements:

  • Business Seminars

During the first two years in the Business Incubator Program the company will complete four business seminars of its choice. These seminars range from accounting and finance to marketing and management. The incubator offers about 20 courses per year, usually lasting three hours each. If the company needs specific course work not offered, MILLERIA staff has the ability to hire outside consultants to give specific presentations.

  • Monthly Meeting

The client company agrees to monthly one-hour tenant meetings. These meetings are conducted to give client companies a chance to network and have professionals from the community provide short presentations on services and opportunities that may be of interest.

  • Quarterly Reviews

The client company agrees to meet individually with the Executive Director of the Business Incubation Program, who will review financial statements, and business and marketing plans and on going projects. Quarterly Review sessions are confidential and intended to provide executive level support needed for success.

  • Open Book Accounting

The company submits to open book accounting during the Business Incubator Program tenancy. All information is strictly confidential, but MILLERIA staff must be able to review the financial statements with the company personnel to assist in their growth and planning.

Expedited Service
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For expedited business service, please email hzhang@milleria.com or call our coordinator Hanxiao Zhang directly at +86-13826586703.
Contact
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For general information, please email information@milleria.com, click Call us now or Send Enquiry

Send Enquiry

A representative will answer your questions within 24 hours.

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