The City of Port Huron Innovation Center is located on the 4th floor of the Municipal Office Center building in down town Port Huron. On the St. Clair River just south of the spectacular Blue Water Bridge, the Municipal Office building provides a unique combination space, great downtown location with on site economic development support from the cities Industrial Development Office and participating business development professional from the area. Bring your technology ideas, patents, copyrights and knowledge to Port Huron. Make your new enterprise a successful launch in Port Huron on the banks of the beautiful St. Clair River.
What are the Client Occupancy Requirements?
Any company will be considered for occupancy that is a start up and owns technology which is patented, copyrighted, a trade secret or special knowledge. The company must be directed toward making this intellectual property into a commercial enterprise within two years, given the ability to raise capital, hire management and technical employees needed. The company will have a business plan which identifies a potential market and competitors if any. The plan will project capital requirements for the first year, the development stages and will posses sufficient funds to operate within the Innovation Center for the first quarter of occupancy.
How are Innovation Center Clients selected?
The Industrial Development Office will review all applications for space on a timely basis. The applicant will receive a written reply with appropriate referrals to private property owners and real estate agents should the I.C. be fully occupied or the application be rejected.
How long may a company remain in the I.C.?
The Port Huron Innovation Center utilizes a one year occupancy agreement. Given sufficient progress toward achieving the start up goals the applicant has set for the company and with agreement from the Industrial Development Office, the occupancy agreement may be renewed for one additional year. It is expected that the typical start up company will achieve start up graduation and be ready to move into first stage growth or incubation space by the beginning of year three.
What progress must a company make during the first year?
All companies are expected to make reasonable progress toward the establishment of their enterprise consistent with the staged progress outlined in their development plan. The Industrial Development Office will review company progress approximately two months prior to the expiration of the annual agreement to help determine the desirability of the second year renewal option.
What if a company requires more space?
The Port Huron Innovation Center will make every effort to accommodate additional space needs of its clients during their occupancy, subject to the configuration of neighboring tenants in the facility. Where personnel growth may be an indication of the company readiness to move out into incubation or first stage growth facilities, the Industrial Development Office will assist the company to secure such space within the City of Port Huron Industrial Park or other available locations.
When must a company leave the I.C.?
The early indication that the company is launched and entering its first stage of growth is when the product or service is ready for market, sales have been made, the product is in production, cash receivables have started to be collected and income from sales is now sufficient to cover typical overhead expenses. It is time for graduation. The Industrial Development Office will assist the company identify incubation space or facilities in the industrial park or elsewhere within the city of Port Huron.
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