Entry criteria

After an initial enquiry from a potential incubator occupier, generally by telephone or e-mail, we wish to establish whether this company fulfils STP’s entry criteria. A company is deemed to be suitable if it fulfils the following selection criteria:

• It is a technology-based or knowledge-based business
• It works within or in support of our target sector (IT, digital, software, Internet, creative)
• It has some protectable knowledge or IP – Uniqueness. We also accept a limited number of service providers who we believe will contribute to the overall incubator community.
• It will be trading or aim to start trading within six months
• It understands the ethos and workings of the incubator its community and common purposes.

These criteria will be discussed at an initial face to face meeting where the applicants business plans will be discussed. It is important to us that we create an early rapport and build a good client relationship at this stage. This assists us in clarifying both our expectations and those of our clients.

We want to understand the context of our clients’ business and its potential future growth so that new occupiers can be integrated into the incubation business environment more smoothly and gain maximum benefit.

Graduation Policy

Sheffield Technology Parks apply a graduation and exit policy to their clients to support their objectives.
These are:

• To increase the rate of new business formation in the technology sector by helping to transform technology business concepts into viable companies
• To provide the support to enable new ventures to grow faster and more efficiently enhancing their prospects for survival and success
• To impact on job and wealth creation in Sheffield and South Yorkshire
• To promote the commercialisation of technology

Rationale for Graduation

In order to create a steady flow of new high growth companies into the Sheffield economy and continually make available incubation new space for new early stage business occupiers of the STP, it is essential to have a graduation or move-on policy.

This policy is enacted through applying the following criteria, not withstanding reasonable practical issues that arise in individual cases:

• We would expect a company to spend a maximum of 3 yrs in the incubator (post- trading).
• We do not let more than 2 business units (or max of 1500sq ft) to any one company.
• All occupiers have license agreements that (being outside the landlord and tenant act) provide STP with the ability to move our clients around or out of the building, if absolutely necessary.