The National Business Incubation Association (NBIA) defines the business incubator as an economic development tool designed to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services. A business incubator’s main goal is to produce successful firms that will leave the program financially viable and free standing.
The present North Carolina business incubation program was established in 1983 by the legislature to provide non-profit organizations with funding to establish and operate a business incubator. The intent of the original program was to assist rural areas gain technology companies through a state business incubator network.
The mission of the North Carolina Business Incubation Association is to provide easy access to the wealth of knowledge and experience to be gained from current incubator operations across the State as communities explore and implement plans for business incubator operations. The common goal is business success and the job creation that can result.