MEPI, The City of Rexburg, and the Research and Business Development Center (RBD-Center) have partnered to use shared space within the existing Rexburg City Hall as an entrepreneurial and business incubation center. This incubation center will serve Madison County, as well as be a resource for surrounding communities.

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Business Creation: Business Accelerators and Incubation

 

A business incubator is a workspace created to offer startups and new ventures access to the resources they need, all under one roof. In addition to a desk or office, incubators often provide resident companies with access to expert advisors, mentors, administrative support, office equipment, training, and/or potential investors. The Madison Business Incubator will feature all of these components. Incubators are created as temporary launching pads for new businesses, expecting participants to eventually graduate and move out.

 

On the other hand, Accelerators are short-term, fast-paced, structured programs lasting three to four months. Accelerators are competitive and limit the number of participants. Most companies hope that an accelerator will put them on an aggressive growth trajectory.

 

The Madison Business Incubator with its Accelerator Program will foster business growth and success while providing education and programs that will help decrease the likelihood of failure for startups.

 

The objectives of this Business Incubator are to (1) advance the City of Rexburg’s and Madison County’s goal of increasing jobs through economic growth; (2) help advance the objective of promoting small business growth and workforce development in the County; and (3) helping companies get established and rooted in the community so that after graduation they become permanent contributors to the overall vitality, diversity, and growth of the city and county’s economy.

 

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