New businesses benefit from an atmosphere where other entrepreneurs are developing their business. They offer one another mutual support.

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1 WHAT IS A BUSINESS INCUBATOR? The Business Incubator Program [BIP] is a partnership program linking the Office of Lake County s Economic Development and Tourism, The Small Business Development Center and Lake-Sumter Community College (LSCC) Business Incubator Program. The South Lake BOC is housed at the county owned Business Opportunity Center located at U.S. Highway 27, Groveland and the Northeast BOC is house at the Lake Eustis Chamber of Commerce building located at 1520 South Bay Street, Eustis, FL both facilities provide office space and shared office equipment and the program is administered by LSCC and provides on-site daily management, training and assistance. The Lake-Sumter Community College Business Incubator Program is designed for growth oriented companies in Lake County. Interested companies will apply for acceptance (see Applications) and will be interviewed by an experienced business teams. Companies making application in becoming part of the LSCC Business Incubator Program [ BIP ] must have an approved business plan and the demonstrated capacity to successfully launch their business. Businesses that bring something new to Lake County (goods and/or services) with potential for growth will rank higher in the assessment and acceptance process. The Business Incubator Program [BIP] offers the following: New businesses benefit from an atmosphere where other entrepreneurs are developing their business. They offer one another mutual support. The BIP program includes business space at attractive market rates. New businesses are supported and coached by individuals experienced in growing and developing new businesses. The program also offers management/technical advisement, access to shared support services and equipment at significant savings and much more. The participant of the BIP usually has a much better chance of surviving during the first few critical years in business. HOW MANY BUSINESSES CAN THE BUSINESS INCUBATION PROGRAM SUPPORT? The BIP at the South Lake County location can support up to six businesses with office spaces, ranging from 100 sq. ft. to 192 sq. ft. [ MOL ]. The BIP at the Northeast Lake County location can support ten businesses with office ranging from 120 sq. to 135 sq. [ MOL ]. DO I HAVE TO SIGN AN AGREEMENT TO BECOME A PARTICIPANT IN THE BUSINESS INCUBATION PROGRAM? Normally each business must sign a Program Agreement for three (3) years. Should the BIP participant reach a level of business stability whereby the BIP services or space is no longer needed, the participant may be Graduated from the BIP based on their request and or on agreement by the BIP Review Committee. In this event the Agreement will be terminated on the agreed to Graduation date minimum of (12) twelve months occupancy is required before Graduation.

2 HOW LONG IS THE INCUBATION PERIOD? Participants (tenants) may stay at the BIP for a maximum of three (3) years. WHERE IS THE CURRENT LOCATION(S) OF THE BUSINESS OPPORTUNITY CENTER(S)? The South Lake Business Opportunity Center (BOC) is located at US Highway 27, Groveland, FL near the Southbound Florida Turnpike Exit (# 289.) Telephone 352- [ TBA ] FAX: Russ Sloan, sloanr@lscc.edu The Northeast BOC is located at 1520 South Bay Street, Eustis FL Telephone: Fax: , Russ Sloan sloanr@lscc.edu WHAT FACILITIES AND SERVICES ARE AVAILABLE DURING THIS PERIOD? Shared receptionist Janitorial service Joint usage conference room with flat screen TV and conference call capability Furnished office: desk, chairs, file cabinet(s) 24/7 access Ample free parking Shared office equipment (fax, color copier, digital postal scale and shredder) Free scholarship to attend Entrepreneurial Institute ten (10) week program, three (3) hours one night per week, 6:00 pm to 9:00 pm Security system Business mentor matching Networking opportunities Professional assistance in marketing, management, technical, other Access to Business Library On-site management support On-site access to the services of the Small Business Development Center No deposits required No common area charges Break room High speed internet (tenant responsibility) Telephone service (tenant responsibility)

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4 WHAT IS THE SELECTION PROCESS? Submission of Application and Business Plan according to Procedures outlined at the How to Apply link. WHAT KIND OF BUSINESSES ARE ELIGIBLE? Start-up or existing businesses Corporate, partnership or sole proprietorship Developed product or service For-profit and non-profit businesses/organizations WHAT ARE TENANT REQUIREMENTS? New products or services in area, plus growth and employment are key factors. Business permits as required Insurance on their personal equipment and furnishing Chamber of Commerce membership Graduate of Entrepreneurial Institute (full scholarship available) WHAT SIZE SPACES ARE AVAILABLE? SOUTH LAKE BOC Three (3) at 100 sq. ft. (10 x 10 ) Priced at $200 monthly * One (1) at 125 sq. ft. (10 x 12 6 ) Priced at $225 monthly * Two (2) at 169 sq. ft. (13 x13 ) Priced at $250 monthly * Veteran owned business eligible for a twenty-five (25%) percent reduction in rent * Program fees shown above are in effect through Beginning program fees may be adjusted upwards as determined by the Administration of the Business Incubators Program of LSCC. NORTHEAST BOC Ten offices ranging in size from 120 sq. to 135 sq. priced from $285 to $ 315 per month WHAT IS THE TERM OF THE AGREEMENT? Three (3) years maximum; early release possible is due to Graduation from Program Twelve (12) month minimum expectation prior to Graduation with first two months free! WHICH PARTY MAY TERMINATE? Either, upon thirty (30) day written notice for cause after 12 month s occupancy.

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6 WHAT IS EXPECTED FROM THIS PARTNERSHIP? Job creation Economic growth and development Linkage between graduated BOC clients and existing area merchants Stronger business/government linkages to improve the Quality of Life Agenda in Lake County Improved chances for continued business success