GBI is a eco-system of business and commerce focused on community development through business incubation and acceleration. Membership into our eco-system has four levels. The i3-BDCC incubator works with companies at different stages of development with the common objective of accelerating their progress towards commercialization and world class levels of performance. Through the i3-BDCC, companies gain access to state-of-the-art equipment, information, technologies and learning opportunities. The i3-BDCC is committed to a comprehensive approach to modernization that includes:
- Product/Service/Process development and deployment—assisting companies in the identification, application and commercialization of products/services/processes;
- Organizational restructuring—helping companies restructure their production and delivery processes, organizational systems, and organizational cultures to maximize the potential of their technological and human resources;
- Employee development—helping employees achieve and maintain high levels of skills, commitment, flexibility and innovation.
To be considered for selection as a vendor / mentor the applicant must be a business with a service, product or manufacturing process. Selection will be based on the ability of the business to meet the requirements and standards of the i3-BDCC program goals. The application process will consist of the following steps:
- 1) Applicant applies in writing explaining the type of business he/she is proposing, the status of the company and the firm’s marketing and financial goals and expectations. This should also include a description of the qualifications of the principals of the company.
- 2) Applicant meets with the Executive Director of the i3-BDCC or management representative to discuss the details and any questions related to the application.
- 3) Upon selection, the Executive Director of the i3-BDCC will meet with the applicant, and register the company’s matrix and asset mapping.
- 4) Vendor / Mentor is assigned to appropriate cluster team and meeting schedules.
Selection Criteria
The Admissions Committee will primarily evaluate applicant companies based on the following criteria:
- Quality, Innovation and Uniqueness as related to the goals of the i3-BDCC community
- Potential Economic Benefits
- Organizational Structure
- Experience and Qualifications of Principals and Key Personnel
- Donation of 100 hrs per year
If accepted, the applicant will sign an i3-BDCC Vendor / Mentor Agreement and our Ethics agreement that will include the proposed relationship criteria. As an i3-BDCC member, the firm will execute a lease to move into one of the incubator facilities. They will also conclude an agreement with the President of the i3-BDCC to include a 10% commission per GBI based transaction. Companies admitted into the incubator are required to participate in the programs of the i3-BDCC, which include collaborative projects that promote the ecosystem and commercialization of member owners Some of the programs include:
• Monthly CEO Meeting
• Advisory Board Program
• Marketing/Finance Program
• Seminars/Workshops
• Venture Capital Forums
The i3-BDCC will also require companies to report on the following:
• Monthly progress reporting via submission of Critical Factors Report and the i3-BDCC’s Growth Strategies through the Entrepreneurial League System™