An “Egg” is how we will refer to a new entrepreneur, and is truly the reason the incubator and accelerator was started in the first place. We now have the location setup with desks, Internet, phone lines, electricity and water. The incubator and accelerator is the perfect environment to grow a business. The center now need some startup eggs.
As an example, any egg will pay the center $120 per month or 15 hours of in-service time at the incubator and accelerator. This is front desk, community involvement, in house businesses, or any labor of the center’s choosing. This is in exchange for the privilege of using the incubator and accelerator.
They are also required to attend a weekly collaboration meeting with all the other eggs in the incubator and accelerator. Finally, they have a course requirement where they will take one college course every 3 months and must maintain a B average. This course will be chosen by the center’s manager and based upon the current weaknesses of the specific egg in the incubator.
To enlist new eggs, they will sign a standard contract that includes a no-compete, gag order, education, and in house work agreement. The benefits they receive will be defined as utilities, phone, fax, copies, Internet, tutoring, mentoring, product placement in the showroom, and an office space.