Manufacturing Incubators
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| Blog Post | |
|---|---|
| Title | Manufacturing Incubators |
| Author | Yunnie Huang |
| Series | |
| Content status | Idea |
| Publication date | |
| Notes | |
| Image | |
| © edegan.com, 2016 | |
Concept of Incubators
Business concept that was first developed in the 1950s. Usually, incubators offer a stable place to develop business concepts (office space, ability to network) along with infrastructure to turn these concepts into reality Startup businesses and concepts can be developed without the pressure to generate revenue instantly. Typically associated with technology firms.
Incubators in Manufacturing
Require more expensive, different resources (in comparison to technology startups.) This include tools, machinery, etc(shared so they're affrodable). Decline in manufacturing jobs in the U.S. in the last several decades. But evolution of manufacturing technology (3D printing, robotics) make business and labor models more affordable. Benefits - (1) access to common tools and infrastructure (2) collaboration and idea sharing (3) networking (4) business infrastructure
Economic Impacts of Manufacturing Incubators
Gaining manufacturing jobs in the U.S. from foreign countries. This is partly due to rising wages in China and India and partly due to new technologies. Result is increased demand for those manufacturing incubators.
Written in 2015 http://www.chicagotribune.com/business/ct-industrial-incubator-0210-biz-20150209-story.html
Fulton-Carroll Center Incubator in Chicago
Created in 1980 (one of the largest and ones of the first five in nation). $2.6 million in federal grants. Size of a city clock, 410,000 square-foot Challenge: "retaining its sense of community while nudging companies out of its nest." The center wants companies to grow and graduate in just a few years, which prevent development of long and meaningful relationship. During an average month, 2-4 tenants move in or out. Total of 138 businesses employing 550 people. The center has became more selective because higher demand. Charges $8-$11 per square foot rent (less than price for comparable space in its neighborhood.)
https://www.illinoisinnovation.com/fulton-carroll-center-incubator
