We all remember the 1970’s song by ABBA ‘Take A Chance On Me’...
You probably know that, as business prospectors, we speak to lots of companies. But did you know we talk to many that are in pre-revenue, startup stages? These companies are eager and working hard to grow to the next level. And, they are looking to locate in areas that can support a company at their early stage. In other words…
FUNDING & INCENTIVES
One recent startup we spoke with is a pre-revenue biotech company that is going through clinical trials, but anticipating rapid growth and looking for a location for the headquarters, manufacturing, and research and development operations. Like many of their larger counterparts, their biggest driver for selecting a place to locate is ultimately the incentives package offered by a community. This particular company was eyeing New Jersey and Massachusetts.
Of course, incentives are not the only driver. In addition to a competitive incentive package, most startup companies are looking for a community that offers a strong entrepreneurial ecosystem that can support their future growth—from talent, to real estate, to quality of place.
Is your EDO willing to take a risk on attracting early stage companies?
Whether you’re trying to fill an incubator or attract applications for a startup competition, our team can help by assessing the entrepreneurial ecosystem to identify opportunity sectors, assembling a list of startup companies to target, and/or conduct direct outreach to generate leads. Contact us to learn more!
Want to know more about this trend?
Here are some additional resources:
- 5 Cities With Enticing Startup Incentives
- 6 States That Offer the Best Tax Incentives for Small Business Owners
- 5 Ways to Position Your City as the Next Startup Hotspot
- Major companies that started out in a garage