It is time. Many of us have been thinking it. Some have been acting on it. I’m going to go ahead and write it. As our friends at the Greater Seattle Chamber of Commerce have been shouting to the world for a few years: It’s Time for Business.
Too many people, myself included, despite our best intentions, have become paralyzed by our challenging times. This has not been helped by negative stories in the media about the economy, high unemployment rate, rising prices and the threat of further inflation.
There are too many talented people, good ideas and opportunities in this area for true entrepreneurs to be sitting on the sidelines any longer. It’s time to jump in, get a little dirty, to invest some blood, sweat and tears into making things happen.
Here in Bellevue, I believe it is time for a real entrepreneurial business incubator to be born. This incubator would help take maximum advantage of not only the amazing amount of talent we have in the area, but quickly help move along some great entrepreneurial ideas, weed out and define others – and maybe most importantly, take advantage of the great opportunities offered by these challenging times.
From Wikipedia the definition of a business incubator: Business incubators are programs designed to support the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts. Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve. Successful completion of a business incubation program increases the likelihood that a startup company will stay in business for the long term: older studies found 87% of incubator graduates stayed in business, in contrast to 44% of all firms.
In short, a good business incubator will help start-ups succeed almost twice as often. That is especially true and more important than ever in these challenging times.
True entrepreneurs not only welcome challenges, but look to capitalize on them. I’m betting that a real and entrepreneurial business incubator here in Bellevue will attract many like-minded entrepreneurs, angel investors and venture capitalists – as well as techies and geeks with greatly diverse sets of skills and backgrounds. I’m also positive that there are property owners and/or landlords out there, who will see the benefit of hosting such an incubator – in fact, a good number that will want to be part of it.
Would you be interested in being part of a business incubator here in the great City of Bellevue? Let me hear from you.
Joe “The Connector” Kennedy is the Publisher of BellevueBusinessJournal.com, former Publisher of Eastside Business newspaper and Founder of the Eastside Entrepreneurs Social Network. He can be reached at Joe(at)EastsideEntrepreneurs.com or by phone at (425) 429-8590.
Great idea!
While we’re at it, perhaps it might be a good opportunity to REALLY think outside the box by entertaining ideas of what a different approach to what an incubator might look like and work. For example, with the new JOBS Act being finalized this year for crowdfunding, would that present a new twist for how funding might happen?
With so much talent and resources on the Eastside, I’m surprised that there haven’t been more incubators over here. In general, the Seattle area has clearly been very different from other startup regions but in particular, I’ve often wondered what catalyst(s) it would take to bring all the pieces together on the Eastside?
Perhaps some points worth addressing and discussing at a preliminary meeting?
I definitely look forward to more discussions on this business incubator for Bellevue. We’re going to need it here to help all the planned real estate developments keep filling up their office space. Did you hear about the Rockefeller Group planning a three tower development in downtown Bellevue?
It’s a fantastic idea! Robert Lee is a genius and brilliant at creating genuine win/win ideas. I can’t think of a better pair to team up and bring fresh ideas and business opportunities to Bellevue and the East Side. Best of luck!
Thank you for your comment Batia. You are right, Robert is a genius. He has had some incredible business successes and I have a feeling he will help make many, many more.
Agreed. Incubation can come in many forms. I’ll seed (and water) the non profit segment. Eager leaders know few things matter more than a mission based on give to get. I have plenty of examples.
Happy New Year.
[…] few days ago, I wrote about it being time for a true business incubator to launch in Bellevue, to serve the local start-up and tech community. This could potential be of great help to the […]
I wonder if there is anyone out there willing to give space.
I have a three office suite of furniture I would like to donate. Desks, conf rm table