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Funding

Entrepreneurship

Technology

Frequently Asked Questions

How much does enrollment in the Incubation Program cost?

The Incubation Program is a series of workshops designed to create a detailed business plan as well as evaluate the marketability and feasibility of the technology commercialization process. Participants in the Incubation Program will have access to the workshops for three months. The fee for enrollment in this program is $1,000 and includes the cost of all materials and supplies.

How much does enrollment in the Acceleration Program cost?

The Acceleration Program is designed to effectively execute the business plan strategies of the client companies with in-depth planning methodology, milestone tracking, and quarterly reviews. Accelerator clients are residents in one of TECH Fort Worth’s facilities. Admission into the program provides access to client-only roundtable discussions, networking events, and the TCU / TECH Fort Worth Internship Program. At appropriate times companies are introduced to potential service providers, partners, customers, employees, and funding sources. The cost of this program is $5,000 annually in addition to the rent of office/lab space.

How much is rent at the TECH Fort Worth facilities?

Our office space is subsidized by the City of Fort Worth to be priced below market value. The wet labs available to TECH Fort Worth clients are subsidized by the University of North Texas Health Science Center at Fort Worth.

Does TECH Fort Worth take equity in my company?

No. TECH Fort Worth is non-profit entity which relies on funding from its supporters in combination with subsidized fees for its services to execute its long-term financial strategy.

What is a business incubator?

Business incubators nurture the development of entrepreneurial companies, helping them survive and grow during the start-up period, when they are most vulnerable. These programs provide their client companies with business support services and resources tailored to young firms. The most common goals of incubation programs are creating jobs in a community, enhancing a community’s entrepreneurial climate, retaining businesses in a community, building or accelerating growth in a local industry, and diversifying local economies. (www.nbia.org)

What is a technology and business incubator?

A technology and business incubator is a business incubator which focuses on businesses which own or have exclusive rights to proprietary technology which makes up the core competency of the business.

How does TECH Fort Worth help my company get funding?

Connecting companies with angel investors (high-net-worth individual investors). Working with companies to perfect venture capital presentations and connecting them to venture capitalists. Assisting companies in applying for loans (www.nbia.org)

How do business incubators differ from research parks?

Research parks (sometimes called science parks or technology parks) are property-based ventures consisting of research and development facilities for technology- and science-based companies. Research parks often promote community economic development and technology transfer. They tend to be larger-scale projects than business incubators, often spanning many acres or miles. Research parks house everything from corporate, government, and university labs to big and small companies. Unlike business incubators, research parks do not offer comprehensive programs of business assistance. However, an important component of some research parks is a business incubator focused on early-stage companies. (www.nbia.org)

How do business incubators differ from SBDCs?

The U.S. Small Business Administration administers the Small Business Development Center (SBDC) program to provide general business assistance to current and prospective small business owners. SBDCs (and similar programs) differ from business incubators in that they do not specifically target early-stage companies; they often serve small businesses at any stage of development. Some business incubators partner and share management with SBDCs to avoid duplicating business assistance services in a region. (www.nbia.org)

Glossary of Business Terms

SBIR

Small Business Innovative Research Grant. Research grants awarded to small businesses from eleven different federal agencies.

STTR

Small Business Technology Transfer Program – Federal research grants awarded to small businesses working with a federal lab, university, or other non-profit R&D entity.

NDA

Nondisclosure agreement – a contract whereby one promises to treat information confidentially and not give out information without proper authorization.

Proprietary

Exclusively owned; private.

Angel Investor

An early stage investor, usually investing their personal funds into a venture. Typically angel investments come prior to venture capital.

Venture Capital

Money made available for investment in innovative enterprises or research, especially in high technology, in which both the risk of loss and the potential for profit may be considerable. Also called risk capital.

M/WBE

Woman or minority owned business enterprise.

Intellectual Property

A product of the intellect that has commercial value, including copyrighted property such as literary or artistic works, and ideational property, such as patents, appellations of origin, business methods, and industrial processes.