Q: What is a business accelerator?

A: Business accelerators and incubators provide targeted support services and resources for entrepreneurs, and also create a community that fosters formal and informal networking, knowledge-sharing, and collaboration.

Business accelerators and business incubators have become recognized nation-wide as an effective means to help small businesses succeed.  According to the National Business Incubation Association (NBIA), "Business incubators generate up to 20 times more jobs than any other Federally funded community infrastructure project--at a fraction of the cost."

Click here for more information on business incubation.

Q: What is the difference between a business accelerator and a business incubator?

A: The term business accelerator is often used interchangeably with business incubator. While business incubators nurture the development of entrepreneurial companies during the start-up period, our business accelerator will also be open to small established companies that are looking to accelerate their growth. 

Q: Are retail businesses eligible?

A: The accelerator space is not intended for retail uses.  However, the City is happy to assist retailers in locating available space within Cottage Grove for retail use. 

Q: Who decides who gets into the accelerator?

A: BEC has a management company & an Advisory Board that determine if potential tenants meet the required criteria.

Q: How long does a business stay in the accelerator?

A: This can vary.  However, the goal is that businesses will graduate within three years or less.