Incubators
The Oklahoma Hispanic Chamber of Commerce and the Metro Technology Centers-Business Development Center Incubator are accepting applications for the Business Assistance Center Incubator Program to help open and develop small businesses in Oklahoma City.
Download application.
What is a Business Incubator?
Incubators nurture young firms by helping them to survive and grow during the star-up period when they are most vulnerable. Incubators provide hands-on management assistance, access to sources for financing and exposure to critical or technical support services. They also offer entrepreneurial firms with shared office services, equipment, flexible leases and expandable space.
Incubator Bios
Success Rate for New Businesses
Only one in four businesses started outside of an incubator survives for five years. The Oklahoma City Business Assistance Center (BAC) Incubator Program offers administrative and operational business support to increase the possibilities of success. The National Business Incubators’ study shows that approximately 80% of new businesses fail within the first five years. 52% fail because of management –related problems, and 48% fail due to lack of capital. However, 87% of start-up businesses affiliated with an incubator, survive. This figure is four times the national average.
Business and Technical Assistance
- Access to new office space and conference rooms for a professional business setting.
- Phone and Internet connections, mail, fax, and copy machines.
- Networking environment for increased business development opportunities.
- Mentoring and skills development through workshops and one-on-one sessions with experienced business professionals.
- A network of over 300 businesses and organizations through the Hispanic Chamber.
Who qualifies?
The Oklahoma City Hispanic Chamber of Commerce & Metro Technology Centers reviews each client’s application to the program. A successful candidate must meet a majority of the following qualifications:
- Be a new or in early stage business (less than three years) with a valid business license.
- Have a sound and formal business and marketing plan. Example Plan.
- Have general liability insurance.
- Be privately held.
- Have adequate working capital to enter a six-month worry-free lease.
- Have potential to produce local jobs upon graduation in three to five years.
- Desire to continue business in Oklahoma City upon graduation.
Key Workshops
Workshops offered through the Business Incubator are a collaboration of the Hispanic Chamber and Metro Technology Centers. They are designed specifically for the needs of small business owners. Topics include forecasting development, inventory control, target marketing, management, strategy development, time management, cash flow, and more. These tools will arm you with knowledge essential for business growth.
Application Process
- Complete the Business Incubator Program application.
- Submit a Business plan.
- Meet with the Incubator Advisory Committee to review the application and supplement documents.
- Present a 45-minute overview of your business, including product, marketing, vision, mission, and future expansion.
To find out more, visit Metro Technology Centers.
Member of the National Business Incubators Association and the Oklahoma Business Incubators Association.
Certified by the Oklahoma Department of Commerce.
