The Gazette - Maryland Community News December 15, 2011 Business incubator in Bowie ready to hatch new companies by Virginia Terhune, Staff Writer Ever watch a nest of little baby chicks as they peck their way out of their eggs under the warm light of heat lamps? The same sort of "hatching" will happen with startup businesses under the nurturing support of mentors and fellow entrepreneurs at the newly opened nonprofit Bowie Business Innovation Center. The incubator, which opened Nov. 1 at Bowie State University, expects to finalize the selection criteria for applicants by the end of December along with the fees they will pay for office space, said Executive Director Lisa Smith. The goal is to install the first few companies in some of the incubator's 12 offices by the end of January, she said. Each office can accommodate two or three employees, she said. More than 20 companies already have expressed interest, Smith said. "There are people who are eager to get out of their spare bedrooms and basements," she said about home-based businesses ready to grow. The incubator's purpose is to provide Bowie-area entrepreneurs with support to hatch and grow their companies, employ more people and, within 12 to 18 months, leave the incubator nest to become high-flying, profitable and tax-paying members of the business community. "We succeed when we lose our companies," said Smith about the incubator, which also has a conference room, copy center and a large area with cubicles on the second floor of Bowie State University's Center for Business and Graduate Studies. Entrepreneurs also can opt to join as affiliates who don't lease space but pay a lower fee to use some of the incubator's other facilities. The Bowie BIC entrepreneurs will benefit from access to below-market-rate office space, professional mentoring and networking opportunities, while Bowie State will benefit from interaction with real-world business leaders. "Students will be able to rub shoulders with real-life entrepreneurs on a daily basis," said Anthony Nelson, dean of the College of Business. "It's very fresh," Nelson said. "The companies may be dealing with marketing or financial issues or growing pains." Students also will have opportunities to work either as full-time paid interns with the incubator or employees of the companies, he said. Students in turn could work with faculty to do case studies for the companies, offering expertise and a perspective that would benefit the entrepreneurs. In the long run, the city of Bowie, which initiated the project five years ago, also will benefit from a larger commercial tax base that relieves residents of some of the tax burden, city officials said. The new incubator joins two others in Prince George's County, the county's Technology Assistance Center in Largo, which focuses on software; and the Technology Advancement Program, associated with the University of Maryland, which focuses on developing science and engineering products. The new Bowie incubator is different than the other two in that it will focus on services instead of products, said incubator President James Harris, who also is an attorney in Bowie. Professional service companies, for example, could include financial planners, government contractors and construction companies, as well as telecommunication and social media companies. Harris also said the Bowie incubator is unusual in that it is located at a historically black college. "The university is growing the business school, and this is another attraction to produce that growth," he said. Smith said she and the board of directors want to attract growth-oriented companies with innovative ideas. Applicants should have a business plan, a clear sense of their target market and an idea of how many jobs they might be able to create as they grow, she said. Smith said she also is looking for businesses owned by minorities, women and veterans. The idea for the incubator began more than five years ago with Bowie city officials who were looking for ways to help Bowie entrepreneurs, boost the commercial tax base and create more local jobs. The city spent $140,000 for a feasibility study completed in 2007 by Smith when she was an employee of ANGLE Technology, a technology commercialization firm based in Guildford near London. Bowie has also committed another $50,000 through the end of next June to help set up the operation, said John Henry King, the city's economic development director. Other government funding includes $75,000 of county funds through Councilwoman Ingrid Turner (D-Dist. 4) of Bowie, who represents the city on the Prince George's County council. Smith estimated that Bowie BIC will cost between $200,000 and $250,000 per year to run, which will cover salaries for paid staff, telephones and computers, marketing efforts and paid interns. As the incubator becomes established, she also envisions more corporate support and a growing cadre of volunteers with business expertise that will work with the startups. "It's exhilarating to work with smart people driven to make a difference through innovation," Smith said about entrepreneurs. "They have a new way of looking at things. Entrepreneurship is a very, very vital force for the future." For more information about services, visit www.bowiebic.com or call Smith at 301-360-3500. vterhune@gazette.net SANDRA M. 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