News
Business incubator builds new nest
Hatchling companies at the Montana Business Incubator will now have more
room to spread their wings. MBI celebrated its newly remodeled space in the
College of Business at Montana State University-Billings with an open house
June 21.
by Leanne H. Frost Western Business News
The incubator moved from its temporary location on campus inside Cisel Hall into
the first floor of the College of Business May 20.
MBI executive director Paul Green said the move enables the MBI to work more
closely with the College of Business and the Center for Applied Economic
Research.
The MBI offers assistance with legal, financial, marketing, and accounting issues
and office support services such as access to telephones, fax and copy
machines, and the Internet. The incubator also gives companies access to
government research and development labs as well as to a council of
professional advisors.
"Basically, they get a board of directors," explained Dave Stoltenberg, MBI
project manager.
The non-profit organization is managed by the Big Sky Economic Development
Authority and is funded by NASA with the goal of assisting new and existing
technology businesses become successful.
The first floor of the building’s north wing has been turned into offices for the MBI
and its clients, if they choose to locate within the incubator, conference rooms
and a lobby.
Green said if the demand for offices increases, the incubator will expand to
include offices on the second floor.
The fee for the incubator’s services is $150 a month, plus a 1 percent equity
stake in the business.
Approximately 70 businesses have used its services since last fall. Currently,
there are five clients: BrainWaves, Inc.; Decision Commerce Group, LLC; Triple T
Publishing & Consulting; Osteo Northwest-Billings; and Kids Stuff Consignment,
Inc.
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