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Open for Business in Manchester

The Amoskeag Business Incubator Inaugurates New Facility

“People are so visual—I think seeing the space versus reading about it—just makes a huge difference,” remarks Julie Gustafson, Executive Director of the Amoskeag Business Incubator, after the Grand Opening of the Incubator’s new facilities on June 3rd. “I think in reaching our goal of filling the rest of the space, I’m going to have to do more tours as part of our sales strategy.”

Over 100 people assembled at the dedication ceremony of the new facility to explore the space and hear Governor Craig Benson, Manchester Mayor Robert Baines, and Southern NH University President, Paul LeBlanc, among others, sing praises, show gratitude, and express their optimism for the Incubator. “Every talk I give around this State, I tell how important entrepreneurship is to our economy. The Amoskeag Business Incubator is a great example of how to do it right,” the Governor said.

The Amoskeag Business Incubator (ABI) was first formed in 1997 and recently relocated to its new facility, a refurbished mill building at 33 South Commercial Street in Manchester. This large office space is well equipped to house dozens of small startup companies. The facility includes shared conference rooms, kitchenette, office equipment room, a business library, not to mention common area, parking, Internet infrastructure, etc. are included.

But the real unique value ABI provides is its supportive entrepreneurial environment.

The Incubator provides additional business services to its tenants, including free workshops and tenant meetings, a Service Provider directory of accountants, attorneys, and other professionals. It has formed partnerships with numerous other business resources organizations. In April, for example, the Software Association of NH (SwANH) presented a business planning workshop in conjunction with the Start Up New Hampshire Business Plan Competition (which concluded in May) at the facility.

“The Incubator has just been great for us,” says Richard Tango-Lowy, President and founder of ars Cognita Inc., a start-up software company providing solutions for knowledge sharing and help-desk applications. “Many of the startup headaches are taken care of for us, so we can focus on building our business, honing our marketing message, and developing our sales opportunities. We also find a mutual support network among the tenants. We can help them and they can help us.” For example, ars Cognita is installing its software in Manchester's regional SBDC, another tenant at the Incubator.

ABI’s new space was made possible through a $1 million award in the form of state tax credits, provided through the Community Economic Development Finance Authority (CDFA), and it operates in partnership with Southern New Hampshire University. SNHU students provide technical and administrative assistance, as interns, graduate assistants, volunteers, and through class projects. The incubator is also supported by its Board of Directors as well as a separate Advisory Board of professionals, bringing a wealth of experience in business, technology, finance, and economic development for the benefit of the tenants.

“Our new space has allowed ABI to grow in ways we have always envisioned,” said Ms. Gustafson. “The response from tenants has been tremendous. We are in the business of helping these companies grow and we have the facility and the support systems in place to help them reach their goals.”

Business incubators like ABI have a remarkable success rate. While most new businesses are reported to fail within their first few years, 80% of new start-ups that are part of a formalized incubator program are successful in the long run. ABI is part of the New Hampshire Business Incubator Network (NH-BIN), which is chartered with collaboration among the several business incubator facilities around State and sets the model for new ones that might be formed over the next 5 to 10 years.

One of the Incubator’s newest tenants, Israel Ellner of CPR Staffing LLC, a nationwide recruiting and staffing service for medical healthcare facilities, is enthusiastic. “We were just approved to be a tenant. I’m so excited!” he says, “We’re starting to move in now. Six phone lines and a new phone system have just been installed, which is critical to maintaining our professional, established company image. It’s definitely a major step up from operating out of the spare bedroom in my house.”

-- by Jonathan Linowes, who is a member of the ABI Advisory Board.

ABI Statistics:

Since its inception, the Incubator has either been at or close to 100% full occupancy with a waiting list.
Currently 9 companies and 2 service providers reside in the Incubator. The maximum number of companies that have resided in the Incubator at one time, since 1997, is 23.
The new facility has over 40 offices (tenants may lease more than one office).
The Incubator has provided more than 800 tours for individuals and groups since its inception.
More than 170 jobs have been created in Manchester as a result of Incubator companies.
16 companies have graduated back into the community.
The types of companies that have located in the Incubator include high-tech, light manufacturing, service and distribution.
A Small Business Development Center is located in the Incubator.
The Incubator hosts and manages a CombiNet Business Information Center.
The Incubator receives advice from a 15-person advisory board and a 5-person board of directors, comprised of members of the university, city and the greater community.
The Incubator is strongly supported by the City of Manchester through funding, consultation and public relations.

Business: Amoskeag Business Incubator
Location: 33 South Commercial Street, Manchester, NH
Executive Director: Julie Gustafson
Email: info@abi-nh.com
Phone: 603-629-9511

Upcoming Events

Feb 21 (8-9:30a): NH Forum on the Future, NHHTC, CR Sparks, Bedford, NH

March 1 (6:30-8:30p): Women's Business Center and MicroCredit-NH Networking Event, Bank of America, Portsmouth, NH

March 6 (10a-noon): Growth Capital Resources in New Hampshire, City of Nashua, Office of Economic Development, Daniel Webster College, Nashua, NH

March 8: (12pm -1pm) Break the Rules and Close More Sales, Amoskeag Business Incubator, Manchester, NH

March 16: Peak Pitch (pitch your plan to invstors on the chairlift), Mt. Sunapee, NH ($)

March 22: Breaking Trends in Web Develoment, UVCIA, Hanover, NH ($)

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