The University of Toledo Minority Business Development Center has announced the expansion in the number of incubation spaces available to minority-owned businesses.
While the initial incubation spaces accommodate 10 local businesses, Center Interim Manager Erik Johnson looks forward to the 29 additional spaces becoming available at the center, which is located in the Faculty Annex on the Scott Park Campus of Energy and Innovation.
“The new spaces are much more accessible and conducive to entertaining our members and affiliates customers,” Johnson said.
Through center partnerships with local, community-based business professionals, incubation spaces provide businesses with an economical office space, professional development services, and access to networking resources through the University community.
To apply for an incubation space, the center requires minority-owned businesses to have the following:
• Executive summary and/or business plan;
• Four to six months of working capital;
• Service-oriented, light manufacturing or general construction trades;
• Potential to produce significant revenues in four to six years; and
• Intent to remain in the Toledo business community.
Interested businesses can apply for the remaining spaces through the center’s website at utoledo.edu/incubator/mbdc/index.html. The center will review all submission materials and require the applicants to participate in an interview process.
For more information, contact Johnson at 419.466.0337 or at erik.johnson@utoledo.edu.
