The University of Toledo Minority Business Development Center (UTMBDC) has announced the expansion in the number of incubation spaces available to minority-owned businesses.

While the initial incubation spaces accommodate 10 local businesses, UTMBDC Interim Manager, Erik Johnson, looks forward to the 29 additional spaces becoming available at their center, which is located in the Faculty Annex on the Scott Park Campus.

“The new spaces are much more accessible and conducive to entertaining our members and affiliates customers,” said Johnson.
Through center partnerships with local, community-based business professionals, incubation spaces provide businesses with an economical office space, professional development services and access to networking resources through the University community

To apply for an incubation space, UTMDBC requires minority-owned businesses to have the following:

• Executive summary and/or business plan
• Four to six months of working capital
• Service oriented, light manufacturing or general construction trades.
• Potential to produce significant revenues in for to six years
• Intent to remain in the Toledo business community

Interested businesses can apply for the remaining spaces through the UTMBDC website at utoledo.edu/incubator/mbdc/index.html. The center will then review all submission materials and require the applicant(s) to participate in an interview process in order to determine their acceptance.

For more information, contact Erik Johnson, interim manage of the Minority business Center, at 419.466.0337 or at erik.johnson@utoledo.edu.

Media Coverage
The Blade (Oct. 5, 2012)