Innovation Development

A survey of the organization charts for small, medium and large businesses that provide a variety of services and products reveals that any business, no matter what their size, product or service must perform the following ten functions: (1) management, (2) marketing, (3) product design, (4) purchasing, (5) production planning, (6) production processing, (7) scheduling, (8) distribution, (9) quality assurance, and (10) research and development. Failure in any one of the above can lead to failure of the business.

Virtual Support Services
Innovation Development
Collaborative Marketing
Community Learning
Community Support

Q: What Is Innovation Development?

A: Innovation development is a dynamic process of business/enterprise development, which involves incubation facilitation. Much like the lifesaving medical apparatus, Incubators provide a safe environment and the nurturing that young firms need, when they are most vulnerable, helping them to survive and grow during the start-up period. A business incubator is an economic development tool designed to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services.

Using the Collaborative Business System - Model of Good Business & Community Development©, Virtual Support Centers provides (1) financial support services to small and home-based ventures (SOHO) through Investment Partners (SIP); (2) administrative and entrepreneurial business support through Public Service Centers (PSC); (3) support for innovative development through Innovation and  Development Centers (IDC); (4) support for collaborative marketing, sales and distribution through Collaborative Marketing Centers (CMC); (5) information access through the Community Learning Center (CLC); and (6) investment in worthy community endeavors through the Community Support Foundation (CSF).

Organizations under the Virtual Support Centers' umbrella are structured in a collaborative way to provide expert support in ALL of the ten functions mentioned above. Click here to see what's at the core of every business.

Q: Why Use Incubation Services?

A: Incubation Services provide the critical access to experienced management, which collectively develops and orchestrates the business, marketing and management resources tailored to a company’s needs. Incubators often provide their clients access to appropriate rental space and flexible leases, shared basic office services and equipment, technology support services, and assistance in obtaining the financing necessary to company growth.

The main purpose of Incubation is to produce successful businesses that are financially viable and freestanding when they leave the incubator, usually in two to three years. These incubator "graduates" create jobs, revitalize neighborhoods, commercialize critical new technologies and strengthen local and national economies.

Many of the businesses being incubated today are at the forefront of developing new and innovative technologies, creating products and services that will improve the quality of our lives. It is estimated that Thirty percent (30%) of incubator clients graduate each year, and according to the Impact of Incubator Investments Study, 1997, 87% of incubator participants are still in business.

Business Incubation programs play a significant role in a community's economic development. Highly flexible, these programs flourish in urban, suburban and rural settings, where they succeed in launching a wide variety of small businesses that create and generate solid revenues for their regions.