The Entrepreneurs Center (TEC) is a not-for-profit 501 (c) (3) corporation supported by the State of Ohio's Thomas Edison Program and private donations and as such has a public obligation to assist development-stage companies. In order to assist early stage enterprises to become viable, self-sufficient, stand-alone businesses, the Board of Trustees has established a number of policies to ensure that TEC's services will be fairly distributed to those who demonstrate the potential to grow and contribute to the employment and economic advancement of the region.

      1. Tageted individuals would have the following profile:

•    tenants who have a growth plan to create jobs, and
•    tenants whose success will be significant to the growth and

             dirersification of the region's economic base.

     2.   In exchange for support and services, TEC tenants are expected

           to:

•    cooperate fully with the TEC staff and volunteers,
•    be actively engaged in, and show a good faith effort

             to utilize suggested activities that enable their business to                grow.

     3. It is the policy of TEC that a complete Business Plan be submitted           to the President and approved by the Tenant Selection Committee

         (TSC). This process can take up to 15 days. It is the desire of the

         TSC to be inclusive. Any criticism or shortcoming in the Business

         Plan that is discerned by the TSC will be brought to the attention

         of the applicant. The TEC can offer assistance or direction to

         rectify the shortcoming, if desired by the applicant.

     4. Business Plan goals and objectives will be reviewed annually by           the Advisory Board's Evaluation Sub-Committee. This process                includes the principle/s of the tenant company and is designed     

         to offer support, positive reinforcement and criticism.

     5. Each tenant is required to submit a quarterly financial report that           will be reviewed by trained individuals. If "red flags" occur,

         the tenant will be notified and advised as to the best direction to 

         rectify the issue. If serious cash flow issues occur, the tenant will

         be required to submit monthly financials until a higher comfort

         level is achieved.

      6. Each tenant is required to sign a one-year lease agreement.

      7. There is no maximum length of stay in TEC however, the national

          average is 3 to 5 years.

About | Tenant Selection | Getting Involved | Applicants and Tenants | Contact

Designed by Information Technology & Consulting ITaC
© Copyright 1999
Webmaster@ITaC