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Published by Josh Bloom
Business Plan for a Business Incubator to be associated with the University of Michigan
Business Plan for a Business Incubator to be associated with the University of Michigan

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Published by: Josh Bloom on May 14, 2009
Copyright:Attribution Non-commercial


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ES 395 1
FactorBusiness IncubatorBusiness Plan
 April 17
 Josh Bloom
, 2008
 Adam FinkelSam GarfinkelRich NemesiGary Weintraub
ES 395 2
This Business Plan was assembled by Josh Bloom, Sam Garfinkel, Gary Weintraub, Adam Finkel,and Rich Nemesi for the use of potential investors or their agents in considering their interest insupport of the MFactor Business Incubator.The information included in the Plan was created to assist interested parties in making theirevaluation of the Project and does not purport to contain all of the information that a potentialinvestor may need to complete its analysis. The work contained in this business plan has not beenindependently verified. In addition, we do not make any representation or warranty as to theaccuracy or completeness of this Plan, nor shall we assume any liability for any of therepresentations (expressed or implied) contained in this plan, or any other written or oralcommunications provided to the recipient during its evaluation of the Project. It is expresslyunderstood that it is the obligation of any investor or recipient of the Plan to conduct its own duediligence regarding the project and its industry.By accepting this plan, the recipient agrees and acknowledges that: (1) all of the informationcontained herein is highly confidential, and that none of the information will be used by therecipient or any of its employees or representatives in any manner whatsoever, in whole or in part,other than in connection with its evaluation of the Project for the purpose of considering itsinvestment in the Project; (2) the recipient will not reproduce this Plan, in whole or in part, and willnot distribute all or any portion of this Plan to any person other than a limited number of therecipient's employees or representatives who have a clear need to know of such information for thepurpose set forth above, and who are informed by the recipient of the confidential nature of suchinformation; (3) if the recipient does not wish to pursue this matter, it will immediately return thisPlan to us, together with any other material relating to us or the Project which the recipient receivedfrom us and will destroy all memoranda, analyses, compilations, studies and other documentscontaining or reflecting information set forth in the Plan or otherwise received from us that relatesto the Project and will confirm such destruction in writing to us, and, (4) any proposed actions bythe recipient which are inconsistent in any manner with the foregoing agreement will require theprior written consent.
ES 395 3
Executive Summary
The MFactor Business Incubator will be a “pure play” business incubator located in Ann Arbor,Michigan. We envision MFactor becoming the best University affiliated business incubator in thecountry. A business incubator in Ann Arbor is uniquely positioned to achieve this goal because of its access to the faculty and students of an elite university, a strong business community, andnumerous potential investors for clients.
Business Concept
MFactor will offer comprehensive business plan assistance as well as start-up funding to its clients.To begin the process, potential clients will apply for year-long admittance to the incubator. Onceadmitted, our executive director will serve as a counselor and business strategist to our clients whilethey develop their business plan. In addition to the executive director, MFactor will employ legal,accounting, strategy and IT advisors to provide expertise on their respective portions of the client’sbusiness plan. During their time in the incubator, clients will have access to work space, computers,full-time secretary, and wet lab facilities (access to wet labs depends on the location we are able tosecure). Finally, upon graduating from the incubator, clients will receive start-up funding from theincubator to cover some of their initial costs.MFactor expects to handle six clients at a time initially. Of these six clients, we anticipate fourstudents and two entrepreneurs from outside the university; however this may be adjusted based ondemand. Students will not be required to pay rent, while outside entrepreneurs will be required topay a sub-market rate of $500/month.MFactor hopes to recruit an elite Board of Directors to serve as the backbone of the organization.With that in mind, we have identified 15 potential board members with entrepreneurial experienceas well as influential ties to the Michigan business community. The Board of Directors will beinstrumental in the application review process as well as recruiting staff for the business incubator.It is unclear at this point how much support we will receive from the University of Michigan.Ideally, the University will see our incubator as a tremendous differentiating opportunity, and fullysupport us through underwriting our expenses and boosting our brand image. However, we arefinancially and strategically sustainable without University assistance and still could capitalize onthe wealth of human resources it provides.The State of Michigan has fallen onextremely difficult economic times, with an unemployment rateof 7.6% at the beginning of the year.
The Market
 Both Governor Jennifer Granholm and University of Michigan President Mary Sue Coleman have stated that entrepreneurship will be a key thrust toturning Michigan’s economy around. President Coleman has gone so far as to appoint CynthiaWilbanks to head up the University’s entrepreneurial endeavors. In addition to what is happening atthe State and University level, the New Economy Initiative is a $100,000,000 fund targetingentrepreneurial initiatives in Southeast Michigan. We have met with representation from the NewEconomy Initiative and received positive feedback on our idea.Our incubator will be located in Ann Arbor, MI, near the central campus of the University of Michigan. This will provide access to 41,000 students as well as approximately 114,000 residentsin AnnArbor.
Ann Arbor was also recently named the 42
best place to start a business in thecountry.
In terms of competition, Ann Arbor offers only SPARK, which does not provide the type

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