Setting up a business incubator in an area suffering from high unemployment

A company that was focused on field crops diversified its activities by setting up a business incubator to boost the economic development of an area with high unemployment.

Project summary: 

In an area suffering from high unemployment a company decided to set up a business incubator that would contribute to economic development.

The project covered part of the costs of hiring a contractor to built and set up the infrastructure of the incubator business.

The business incubator was designed to provide a series of services including information technologies, rooms for training events and business meetings, consulting services, business administration support and consulting on broad legislation (tax, financial, legal).

Project results: 

73% of building is rented out. The incubator today serves 16 small firms, with the capacity to host another five companies.

The incubator has become a meeting place for entrepreneurs from the region and not just those who have a place in its premises.

Different events are organised on the shared incubator premises, such as an exhibition of photographs by a local author during the "open door" day.

A new job was created.