JOIN INCUBATOR PROGRAM
We are always on the look-out for exciting new companies to join our incubator–companies that share our mission and have potential for significant growth. We provide a robust set of services designed to provide the know-how and connections to our firms that will launch them on their paths to success. These include our physical facilities with both full-time and co-working space and conference room, support business services, including mentoring, distinguished speakers’ lunches, partnership with the University of Maryland, assistance and connections to finance and business partners. We expect our companies to do well not only on their financial bottom line, but also on their green bottom line—to prosper and improve the environment.
The Bethesda Green incubator provides facilities and professional support for green companies. Incubated companies are able to lease full- or part-time office space and receive value-added services to support their growth. Other companies may have a “virtual” status with the incubator, having no office space privileges but with access to many incubator services.
The Bethesda Green incubator provides the following:
1. Facilities and Shared Resources
- Office furniture, including desks, chairs, shelves, cubicles, filing cabinets and whiteboards
- 24/7 access
- Sustainable center design
- Personal storage space
- Broadband wireless internet service
- Utilities, including heat, light, and power
- Facility maintenance and management
- Staffed reception center and information area
- Mailbox and package handling
- Office security
- Conference room and meeting spaces
- Kitchen area, including refrigerator, microwave and coffeemaker
- Fax, copiers and A/V equipment
2. Business Support Services
- Help with business model development
- Mentoring with experienced C-level executives and business consultants
- Networking activities with green businesses and community contacts
- Education and training programs
- Marketing assistance through Bethesda Green website, dedicated company webpage, individual video clip, press announcements, blog posts, introductions to potential clients and participation in Bethesda Green and partner events
- Access to professional services firms, including accounting/financial and legal
- Monthly speaker program
- Annual progress reviews
- Access to interns
- Partnership with University of Maryland for business and technical assistance, including Dingman Center, Mtech and MIPS
- Access to services of Small Business Development Center (SBDC)
- Access to resources of Montgomery County DED and state DBED
- Access to TEDCO research commercialization support programs
Bethesda Green seeks companies to join its incubator that offer both a high potential for economic success and align with Bethesda Green’s sustainability mission. We seek companies that are:
- Green, socially responsible, sustainable companies and nonprofits that have a positive impact on our community
- Start-up or early stage local companies
- Larger companies based outside the region seeking a local presence
- Companies with green products and services, including clean tech (alternative energy, energy efficiency, water, smart grid, green transportation), environmental stewardship, planning, design, neighborhood revitalization, recycling, agriculture marketing and media
Applicants will be evaluated based upon having a strong business model, their potential fit with Bethesda Green’s culture, their ability to have a significant positive impact on the community and their potential to help build a vibrant green business economic cluster.
Companies wishing to apply to the Bethesda Green incubator must submit:
- Bethesda Green Participant Application Form
- Current business plan or 3-5 page summary plus financials
- Resumes of company principals
The business plan/summary should include the following information:
- Description of business, products and services
- Market potential—what business problem are you addressing
- Competitive analysis
- Business model—how you plan to make money and your important milestones
- Marketing and sales strategy
- Management background and qualifications
- Financial Statements (one page each)
- Current Balance Sheet
- Current Income Statement
- Cash Flow Statement
- Sources of funding to date and projected funding plans
- Job creation forecast for three years, including the average salaries of those jobs
- Exit strategy (if applicable)
Applications are evaluated by the Bethesda Green Incubator Review Committee consisting of Bethesda Green incubator management and advisors.
Evaluation criteria include:
- Completeness of business plan
- Compelling business model
- Management experience
- Financial viability
- Fit with Bethesda Green’s sustainability mission and culture
- Potential to be a leader in a green industry sector
- Potential to take advantage of incubator environment and resources
- Potential for job growth
- Potential impact on sustainability of community and beyond
Additionally, companies may be asked to make a presentation to incubator management and advisors. Applicants will be notified as soon as a decision has been made. Once accepted, the firm will have 30 days in which execute the lease agreement for active status. Deferral of start date may be made based upon mutual agreement between the company and incubator management.
While there is no set maximum time that companies can spend in the incubator, companies typically ‘graduate’ from active status in two to three years. Graduation is based upon each company’s progress. Incubator management works with each company to set goals for progress and graduation.
The basic graduation standard is the company’s ability to stand on its own with products and services well received in the marketplace, managerial confidence and financial stability. In addition, a company’s graduation may be sparked by its having outgrown the space available at Bethesda Green. Once graduated, company’s are encouraged to maintain close ties to the incubator, returning for meetings, events and networking with existing incubator companies. Our goal is to enlarge the green business sector in the County and region and to serve as an ongoing hub for these companies.
Fees are based on one full-time equivalent person for the given usage category. If multiple people and/or additional time are needed by a firm, then an adjustment to the standard fee can be made on either a short-term basis, pro-rating based on time usage or moving into a higher usage category.
If you have any questions, please contact Incubator Manager Robert Snyder, firstname.lastname@example.org, or call 240-396-2440 x103!