The National Business Incubation Association (NBIA) has once again awarded its Soft Landings International Incubator designation to the Enterprise Development Center (EDC), a business incubator operated and sponsored by NJIT. This was the Center’s first renewal of the same designation it earned in 2010. NBIA www.nbia.org/member_services/soft_landings/ is the world’s leading organization advancing business incubation and support for entrepreneurs.Through the Soft Landings program, NBIA recognizes incubation programs that are especially capable of helping nondomestic companies enter the incubator's domestic market. The EDC http://www.njit-edc.org/ was selected because of its business services for nondomestic firms and its demonstrated success at helping these firms enter U.S. market, said Randy Morris, NBIA director of member services.
Business incubation programs like the EDC catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make successful ventures. Incubating nondomestic firms takes more than the standard set of incubation services, however. "The Soft Landings designation recognizes an incubator's focus on welcoming nondomestic firms into its domestic market with translation services, help cutting through governmental red tape, access to capital, domestic market research and other programs," Morris said.
A panel of experienced incubator managers evaluated the Soft Landings applications. The unique support services for nondomestic firms at EDC impressed the judges, said Morris. The EDC accentuates its standard incubation services with assistance tailored specifically to nondomestic firms, including introductions to key U.S. contacts, assistance with government contracts and grant applications, immigration and visa assistance and help finding suitable housing.
NBIA’s Soft Landings designations are effective for two years; programs must reapply biennially for continuing designation. There is no cap on the number of designations available in a given year or over time. The EDC is one of 25 business incubation programs from around the world that have earned the designation since NBIA began the program in 2005.