- A local sponsor, or the organization receiving assistance through the local sponsor, has the following responsibilities and duties in establishing and operating an incubator with assistance from the Program:
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(a) Secure title on the facility or a lease with the intent to secure title to the facility.
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(b) Manage the physical development of the incubator facility, including the provision of common conference or meeting space.
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(c) Furnish and equip the facility to provide business services to the tenants.
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(d) Market the facility and secure eligible tenants.
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(e) Provide financial consulting, marketing and management assistance services or arrange for the provision of these services for tenants of the incubator, including assistance in accessing private financial markets.
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(f) Set rental and service fees.
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(g) Encourage the sharing of ideas between tenants and otherwise aid the tenants in an innovative manner while they are within the incubator.
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(h) Establish policies and eligibility criteria of tenants into the incubator.
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(i) Establish an advisory committee to assist in the performance of these functions.
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(j) establish a graduation plan.
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