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Salt Lake Community College powers up business start-ups

Friday, May 07, 2010   (0 Comments)
Posted by: Matthew Montoya
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The largest publicly-funded business incubator in Utah is located at Salt Lake Community College’s Miller Business Resource Center. Co-located with the Salt Lake Region Small Business Development Center (SL SBDC), the Miller Business Innovation Center (MBIC) opened its doors in 2003.

Considered a "mixed use” incubator serving clients in a range of markets, the Center has attracted publishing, franchiser, software development and medical device entrepreneurs.Currently it serves 14 resident clients and has "graduated” 20 companies.

"We follow the entrepreneurial philosophy of Larry H. Miller, Miller Campus’ largest benefactor. We look for start-ups that are relevant to their markets, with products or services that have high potential for growth,” SBDC consultant Jeff Chance says.

For a company or entrepreneur to become a client requires successfully passing a screening process. The Center fields a selection committee comprised of a consulting business person (usually a successful entrepreneur), a senior staff member of the Miller Business Resource Center, and two SBDC business development directors, themselves experienced business people.

Once the committee selects a client, the Center – which has 15,000 square feet of office, meeting, cubicle and work space – offers a range of services, including basic business amenities such as internet access.

"For a client to lease space is very cost-effective, but there’s also no cost to clients for SBDC counselors to advise on business plans, market analysis, distribution strategies, or other aspects of building a business,” Chance says. "We also have relationships with various early-stage investors and help our clients network with possible funding sources.”



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