The Nashville Business
Incubation Center (NBIC) opened in 1986. It is the result of a cooperative effort between
Tennessee State University, the Tennessee Valley Authority, and Growth Enterprises
Nashville, Inc. The NBIC received a grant from TVA for internal operations and cost of the
original building.
In 1995, the NBIC underwent a $1.4 million
expansion with a grant from the U.S. Depart of Commerce. With this expansion, the capacity
of the NBIC increased from 10 small businesses to 22. Units in the facility range between
500 square feet and 2000 square feet. The center also added a 2000 square-foot
entrepreneurial training center.
Located on the Avon Williams Campus in downtown Nashville, the NBIC
is the only incubation center in the state located on a college campus.
In a symbiotic
relationship with the College of Business, the resident businesses have access to the
expertise of the faculty while providing hands-on experience for students.
To date the NBIC boasts 57 successful business graduates. After
leaving the incubation center, these graduates have become a major source of employment
and economic development in Tennessee. In the general population a new business has an 80
percent chance for surviving. Businesses that begin in the NBIC have a 90 percent success
rate. Only four of the businesses that began in the incubation center have failed.
Experiential Learning Center
The NBIC serves as an experiential learning center for the students
of the COB. In the fall and winter semesters, the NBIC hosted eight student interns.
These
students earn a stipend through a grant from the Kauffmann Foundation and class credit.
Additionally, students may serve business residents of the NBIC
through participation on consultant teams with an Entrepreneurship class.
At the beginning of each fall semester, the Entrepreneurship classes are
carried on a tour of the incubator. After the tour they make their
initial assessments as to which business they would like to be assigned.
They work under the direction of the business owner, Mrs. Mildred Walters
and Dr. Lownes-Jackson, associate dean and professor of management in the
College of Business.
Training Center Programs
The training center in the incubation center has attracted financial
institutions, as well as government (local and state) programs designed for low and
moderate income members of our community. Private small businesses have also used the
facility for educational classes. In the past year, seminars and workshops have been held
on the following subjects.
Frequently Asked Questions
What are business incubators?
Business incubators are facilities designed to help new businesses
get started by providing managerial/technical assistance, on-site support services, and
affordable rental space in a unique environment that fosters growth.
Incubators are part of a growing trend nationwide to help businesses
survive and flourish.
How long is the incubation period?
Tenants may stay in the NBIC for a maximum of five years.
What services are available during this period?
