M.T.E.C. SmartZone has worked with 24 companies in four locations
HOUGHTON -- There are 15 SmartZones across the state of Michigan including two right here in the U.P.
The Michigan Tech Enterprise Corporation SmartZone opened its first business incubator at Houghton’s Powerhouse building in June 2003. Over the last seven years, it’s expanded to four facilities and helped to grow 24 companies.
The newest location on the first floor of the Michigan Tech Lakeshore Center offers 17,000 square feet of office space with removable walls for easy expansion.
"Our spaces are a little more expensive than market value, but what we do provide is the toolbox and business services that start up companies need to be successful," says C.E.O. Carlton Crothers.
Steve Fitzgerald has run his technological communications company, Consitacom, out of the Jutila Center incubator since 2005. He credits M.T.E.C. SmartZone with helping the development of his business and marketing strategies and enabling him to start a spin-off company called K.P. Biznet.
"We have very high speed data connection with Michigan Tech, and we're able to serve customers around the world from this facility, and we simply couldn't do it at a reasonable cost anywhere else," says Fitzgerald.
Before entrepreneurs can join, they have to answer questions about their business plan and growth strategy. After starting, the companies are required to set goals and meet regularly with SmartZone staff to discuss their achievements.
"Once we see they have attained a sustainable growth pattern, we'll graduate them into the community,” Crothers says. “The purpose is to take an idea, nurture and grow it, and then plant it."
Crothers expects to secure a couple new start-ups 2011 and to see increasing business for the current companies.
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