Application Process
The application process involves several steps to ensure a potential client is a good fit for the Incubator program; therefore, we ask our applicants to follow our submission guidelines.
Application Process
Step 1: Application Submission: Present your business to the Incubator by submitting a Pre-Application Form. This simple form will help explain your business concept and service needs.
Step 2: Review Process: The Pre-Application Form is then reviewed by the Incubator staff. If the business meets preliminary requirements, they will be contacted by the Incubator staff to complete a formal application. Businesses that are declined at this point will receive suggestions to implement for possible re-application at a later date.
The formal application for incubator membership includes basic information about the business, the point of contact, leased space requirement, the time frame for needed space, description of existing relationship with the Incubator, if any, description of business type, products/processes under development, and other applicable details. If the business meets application requirements, they will be contacted by the Incubator staff to schedule an interview with Incubator staff.
Step 3: Interview: The interview will be conducted by Arrowhead Center administrators and Incubator staff. The interview will include detailed questions to establish compatibility with the Incubator focus, the applicability of the products or technologies under development, and the general financial status of the business, including credit ratings and access to capital. The interview is evaluated and if the business receives initial approval for admittance, it will be contacted by the Incubator staff and asked to give a presentation to Arrowhead Center and Incubator staff. Businesses that are declined will be redirected to other services.
Step 4: Client Presentation: The panel convened for the client presentation will be made up of a combination of members of the Arrowhead Center board of directors, Arrowhead Center administrators, Incubator staff, and representatives from relevant community organizations. The presentation will include a detailed description of the client's product or technology, the stage of development, and timeline. A summary business plan, a list of goals and objectives, and strategic plan will also be presented by the client. After evaluation of the presentation by the panel, businesses meeting all requirements will be approved for admittance.
Admittance of Incubator Clients
Once admitted into the Incubator, the client will schedule an initial meeting with Incubator staff and begin the admittance process including participation in an orientation session.
Incubation Process
Orientation of New Clients and Initial Incubation Program
Initially, the Incubator staff will assist the new client in assessing their individual level of business development. Often the new client will be in the initial stages of business development. Once accepted into the Incubator, assistance will be provided to develop their business plan, marketing plan, research, additional plans, and strategies for funding growth and for locating sources of venture capital.
In an effort to refine and develop management techniques and operational approaches, the new client will begin attending Arrowhead Center entrepreneurial workshops, periodic workshops for high technology start-up businesses, and workshops targeted at incubator-based businesses. The Incubator staff will also serve as a liaison between the new clients and the business support network, helping them to identify and begin to interact with these agencies including external service providers, university resources, and government programs.
Application
Above is the Pre-Application Form for admission into the Incubator program. The Adobe Reader is required to view and fill out this form in PDF format. Click here to download Adobe Reader.
If you have difficulties filling out the form online, please print the form, and FAX to (575) 646-6073.
Arrowhead Technology Incubator
Phone: 575-646-2596
Email:
nsti-admin@nmsu.edu