Incubator Program Selection Criteria
Adams Hub is now accepting applications for the incubator program and welcomes start-ups who are dedicated to excellence and ready for rapid growth. To ensure Adams Hub can deliver the value-added services consistent with our Mission, we apply the following criteria for selecting start-ups into our program as outlined below:
- Demonstrate a need for Adams Hub services and assistance.
- Have job creation potential – not a one employee business such as a graphic designer or consultant, etc.
- Founders with commitment, passion, coachability, resiliency, and character.
- Be a start-up or growth enterprise that fits the Adams Hub mission.
- Commit to at least one team member on-site, full-time at Adams Hub.
- Have a strong founder or founding team.
- A willingness to learn, accept assistance offered by Adams Hub and an openness to being mentored.
- Have an innovative and scalable business opportunity, preferably with intellectual property.
- Be a good fit and not in direct competition with other incubator client companies in the Adams Hub.
- Be willing to take advice and contribute to a positive atmosphere of entrepreneurial support within Adams Hub.
- Have adequate financial resources to cover program fees, any overhead or salaries for at least 6-12 months.
- Certify that there are no legal claims or lawsuits pending against the business.
- Attend a personal interview session with Adams Hub.
- Have physical space needs that Adams Hub can accommodate.
- Pass a complete background check.
- Have plans to remain in greater Carson City area upon graduation from the incubator program.
- Complete the incubator application form.
- Submit a written business plan or executive summary that meets the following requirements.
Selection Criteria Bonus Characteristics:
- Have a multi-disciplinary founding team with proven start-up or growth experience.
- Have an outside advisory team and professional service providers (legal, financial, strategy, technical, etc.).
- Have or are working on a prototype or developed product.
- Have founders willing to take personal risk and/or put up personal assets.
Upon Admission to Adams Hub incubator program:
- Attend regularly scheduled meetings with Adams Hub management personnel to review milestones, evaluate progress, and explore options for business development.
- Submit an annual performance report to Adams Hub management and submit semi-annual reports.
- Attend periodic group events arranged by Adams Hub and generally take advantage of opportunities to network with service providers and other Adams Hub clients.
- Attend meeting with Adams Hub management to discuss relationships with Adams Hub and its network of mentors and providers.
- Abide by all the rules and regulations of Adams Hub.
- Get ready to grow!
Incubator Application: Business Plan or Executive Summary
If you have already created a business plan, please submit your plan as the more information Adams Hub has about your start-up, the better recommendations and assessment we can provide. If you do not have a business plan, an executive summary is needed as part of the application process. The executive summary, at a minimum, needs to include the following information for the Adams Hub Selection Advisory Board:
- Description of the product/service (what are the unique features or benefits and your venture’s competitive advantages).
- Description of the intellectual property, business model and how the business will make money.
- An overview of the target customer and industry (market dynamics: size, growth, and sub-segmentation).
- Estimates or projections for product/service costs, pricing and sales over a 3 year period.
- A description of the major service/product milestones to be accomplished over the next 1-2 years.
- A discussion of how the business will be sustainable or funded for a minimum of 6-12 months.
- Overview of the founder’s education, career and applicable experience.