January 13, 2004
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January 13, 2004 |
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ATHENS, Ohio —Rose-Hulman Ventures is one of the sponsors of a new resource to help staffs at business incubators evaluate the effectiveness of their programs and services.
Rose-Hulman Ventures, a technology-based business incubator in Terre Haute, Indiana, has joined with The National Business Incubation Association (NBIA) and two other sponsors to create the Self-Evaluation Workbook for Business Incubators, a tool to help incubation professionals better evaluate their programs’ operations. Rose-Hulman Ventures, an NBIA member, sponsored the publication along with the Long Island High Technology Incubator in Stony Brook, New York and the Tennessee Valley Authority in Knoxville, Tennessee. “Rose-Hulman Ventures strongly believes in the value of periodic incubator self-assessment, as well as in continuous improvement,” said Brij Khorana, chief operating officer and executive vice president of Rose-Hulman Ventures. “We are glad to partner with NBIA in producing the Self-Evaluation Workbook. The workbook serves as a good fundamental resource for all incubators.” Business incubation programs catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful. In 2001 alone, North American incubators assisted more than 35,000 start-up companies that provided full-time employment for nearly 82,000 workers and generated earnings of more than $7 billion. Rose-Hulman Ventures’ comprehensive approach of combining engineering and business expertise, high-tech lab space, and venture capital in one place is ideal for creating successful technology-based companies. As a department of Rose-Hulman Institute of Technology, Rose-Hulman Ventures enhances education and creates economic opportunities in the development of new products and services for Indiana companies. Since incubator policies, procedures and services can become ineffective without periodic evaluation and fine-tuning, NBIA recommends that business incubators perform comprehensive self-evaluations once a year, carefully assessing everything from their mission statements to their marketing plans. The Self-Evaluation Workbook provides a systematic approach for such evaluations, which can prevent important issues from slipping through the cracks, help management prioritize projects, provide evidence of success to financial sponsors, and improve services to young client businesses. About the National Business Incubation Association
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