San Francisco-based broadband company Inveno has turned extra building space into a business incubator for social businesses, called Mission Social.
For very low rental fees, the company provides a shared office space – with video conference rooms, internet access and other amenities – for socially-oriented companies. The low overhead provides assistance to entrepreneurs who are just forming a company and may not be able to afford a traditional lease. One company at the facility just uses its office space at night.
Inveno told CNET.com that the company still has space for more emerging companies, and it hasn’t ruled out further expansion once that space fills up. “Our goal is really to bring in organizations as they come in,” Inveno CEO Kristin Peterson told the site. “We’re not aggressively marketing it.”
Several other states have also recently passed small business incubation laws, including Idaho, Florida and Pennsylvania. According to a survey by the National Business Incubation Association, 87 percent of companies that graduate from incubators remain in business.
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