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Innovate in DC: The 8 Incubators in DC with more planned

Innovate in DC: The 8 Incubators in DC with more planned

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Published by Peter Corbett
There are 8 incubators in Washington DC with more planned.
There are 8 incubators in Washington DC with more planned.

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Published by: Peter Corbett on Mar 24, 2011
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07/10/2013

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innovate in dc!
incubators, shared workspaces + resourcesfor the dc entrepreneur
planning.dc.gov
    
 
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an iniave of 
 
winter 2010
 
What can an incubator or shared workspace do for you? 
in•cu•ba•tor
n
:
an organizaon or placethat aids the developmentof new business venturesespecially by providinglow-cost commercial space,management assistance, orshared services
Incubators and shared workspaces provide start-up rmsand small businesses with an entrepreneurial environment,professional network, savvy mentors and crical resources
to develop and grow successful businesses. They serve
as a forum for entrepreneurial development, where newcompanies co-habitate in a physical space or join a virtual
network to exchange ideas, access key business support
services and test-drive their ideas. Business incubaonhas been adapted to meet a variety of needs, fromfostering commercializaon of technologies to increasingemployment in economically disadvantaged communies.Read on to learn more about the types of incubators,
shared workspaces and resources in DC to help you pursue
your business dream.
Impacts of entrepreneurship and incubaon
Companies that graduate from business incubator programs and shared workspaces help tosmulate local economic development, generate jobs and revitalize their host communies.In DC, there are approximately 32,000 micro businesses (less than 5 employees) thatemploy 68,000 people.
In the US:
84% of companies that graduate from incubators locate within their host community.Incubators reduce the risk of small business failures. 87% of companies that graduatefrom incubators are sll in business aer 5 years.2Every 50 jobs created by an
incubator business generates
approximately 25 addionaljobs in the same community.Small businesses and bankscreate between 60% and 80%of new jobs
Sources: Social Compact (2007); U.S. Department of Commerce, Economic Development Administraon(2008); U.S. Small Business Administraon; Naonal Business Incubator Associaon.
 
reasons
 
5
 
1.
Global center of innovaon.
With 16 colleges/universies and several hundred governmentand private-sector research instuons, the District is a global center for innovaon intechnology, policy, nance and many other disciplines.
2.
Creave and tech-savvy.
DC’s creave economy is a $5 billion industry. The city hosted itsrst ever digital arts fesval, Digital Capital Week, that aracted over 5,200 parcipants.
3. Regional employment hub.
DC has a large, diverse pool of educated talent; 48% of residents
have a bachelor’s degree or higher.
4. Robust economic engine.
DC’s economy has weathered the economic collapse far beerthan any other US city. DC, alone, provides jobs for approximately 712,000 people.
5.
Internaonal visibility.
DC aracts over 16 million visitors annually, boasts a world-classtransit system and is home to more embassies than any other place in the world.
Types of incubaon/shared workspace
Incubator programs can range from the tradional model of providing physical space to the virtual model that connectentrepreneurs to capital and startup services. Tradionalincubators typically require signicant public subsidy, involvea physical oce space and business support services. Non-tradional incubator models have emerged more recently,driven by private companies that oer oce amenies,a buzzing creave environment and mentorship servicesin exchange for a moderate fee or ownership stake in the
new business. Shared workspaces are tailored to provide
businesses with exible leasing opons for aordable ocespace, conference rooms, printers, copiers and phones. Forthose companies that do not require physical oce space,the virtual-model incubator might oer start-up capital alongwith the services of an aorney, a publicist and accountant inexchange for a small ownership stake. Each of these modelshelps to smulate small business growth by encouraging idea
exchange, partnerships and a professional network to ensuresuccess.
3
why you should start your business in DC 
Discover thespaces in DC
The following pages provideinformaon on exisng sharedworkspaces and incubatorprograms in DC, as well as thoseplanned for the future:
Anity Lab . . . . . . . . . . . . . . . 4
Center for Green Urbanism . . 6
e-BIC 
. . . . . . . . . . . . . . . . . . . Flashpoint . . . . . . . . . . . . . . . 9H Street Greenhouse . . . . . . 10 N Street Incubator . . . . . . . . 11Temporium . . . . . . . . . . . . . . 12The Hive . . . . . . . . . . . . . . . . 13
Planned Spaces:
FAB LAB DC . . . . . . . . . . . . . 14Gallaudet Innovaon Lab . . 14
Hub DC . . . . . . . . . . . . . . . . . 14

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