Rowan's Center for Innovation retains Incutate to mentor incubator businessesJanuary 31, 2011
The Center for Innovation & Entrepreneurship at the South Jersey Technology Park at Rowan University, Mantua Township, has contracted with Washington Township-based Incutate, LLC, to provide counseling, advice, mentoring and support for the businesses in the Rohrer College of Business Incubator housed at the Technology Park.
Incutate, LLC, is an offshoot of Lauletta Birnbaum, LLC, a boutique law firm serving the needs of technology companies throughout the country in various industries and in various stages of business. Incutate serves the needs of start-up and emerging growth companies in southern New Jersey.
“Through our experience working with companies in many regions throughout the country, we realized that inventors and entrepreneurs in the southern New Jersey area, especially south of Camden County, are not afforded access to the same resources and professional advice that are more readily available to companies in other nearby regions, such as Philadelphia, New York and northern New Jersey,” said Frank Lauletta, a founding member of the firm. “Being based in Gloucester County, we felt it was important to form Incutate as a means to help advance our region’s growth and to increase its drive for entrepreneurship and innovation.”
That approach meshes well with the Center for Innovation & Entrepreneurship and the Rohrer College of Business Incubator at Rowan. The Center is a multi-disciplinary, university-wide operation dedicated to promoting innovative thinking and entrepreneurship, and it manages numerous programs for Rowan and for the South Jersey community, such the Entrepreneurs Forum of Southern New Jersey.
The Incubator is home to five start-up companies and branch offices for which it provides commercial space, fully equipped laboratories and a network of business resources focused of the firms’ development and success. The incubator-type of approach also enables small companies to keep their costs low while having resources at their disposal.
In this new collaboration, Incutate will provide regularly scheduled presentations; roundtable discussions; mentoring; and access to a team of entrepreneurs, venture capitalists and professionals to support the Center’s incubator clients as they move to commercialize their products and grow their businesses.
“Saddled with high start-up costs and little to no revenues, many start-up companies often cannot afford to invest in organizational structures, intellectual property protection, legal advice, financial and accounting guidance and other commercialization support,” said Lauletta, who noted advice and counseling to be offered by Incutate will be provided at a high level but is not necessarily intended to replace the need for retaining appropriate professionals. “This lack of resources often leads to delayed growth of the company and/or poor decisions that could negatively impact future prospects.”
Rohrer Endowed Chair Dr. Steven Phelan, who oversees the Center for Innovation & Entrepreneurship, added, “Rowan University is pleased we will be able to expand our services to our incubator clients though our partnership with Incutate. Since the Center’s start, businesses in the Incubator have been able to tap into resources across campus, including mentoring opportunities with business professors and others. Incutate will add another dimension to what we can offer these start-up firms.”