Tenant Criteria

Criteria for Acceptance as a Tenant Company

• The tenant must have or be in the process of developing a business plan.
• The applicant must be a for-profit venture with potential products or services that can be commercialized within 36 months.
• The applicant should be in early stage and growing.
• The applicant must be in compliance with applicable legal and regulatory requirements.
• The applicant must show the ability to pay rents and other service charges to the incubator.
• The applicant should show an ability to attract capital needed to survive.
• The applicant should have or be committed to developing a management team that is competent of managing the technical and operational aspects of the business.
• The applicant will benefit from the assistance and resources provided by MMIC.
• The applicant acknowledges managerial and business challenges and is receptive to Board assistance.
• The applicant must have the ability to create jobs in the mid-Michigan community particularly for individuals that are under or not employed.
• The applicant must agree to be an active collaborative partner with the other tenants in the incubator.
• The applicant must be compatible with the other incubator tenants in order not to have any adverse effects on the productivity of the existing tenants.

Tenant Companies

• Tenant companies locate their operations with the incubator facility for a period not to exceed 36 months.
• Tenants pay a monthly lease and benefit from services provided by the incubator.
• Tenants have shared use of conference rooms, administrative space, common areas, IT server infrastructure, telephone system including voice mail, security, receptionist, parking and utilities.
• Tenant firms receive training, information and mentoring in business, specific technology and commercialization needs.
• Tenant firms receive assistance in preparing for and accessing capital.
• Tenants have 24 x 7 access to the facility after completing a four hour safety training class and a background check from Great Lakes Safety Training Center.

Tenancy

Tenant companies will work closely with MMIC’s Executive Director and Board to identify milestones for the company that will lead to graduation from the incubator. The period of tenancy is 36 months. The incubator will assist the company in making the transitions to another location, preferably within mid-Michigan. Services and support from the incubator may continue during the transition period and following graduation. Graduate companies may continue to avail themselves of incubator services as a virtual tenant and serve as mentors to younger incubator tenant firms.