Estevan鈥檚 new business incubator has found its home.
The service, which is known as the Launchbox, will occupy part of the Spectra Financial building, located next to Affinity Credit Union. Jeff Taylor, who is the manager of the incubator, said there have been renovations that have already taken place, and he needs to organize the area.聽
He hopes to have it open to the public once restrictions related to the COVID-19 pandemic are lifted.
鈥淲e have the entryway where we鈥檒l have printed business resources for people. I鈥檒l be at the front, and I鈥檒l always be there and available for any time anyone wants to come in and ask a question, or just come in and grab a coffee and talk about entrepreneurship,鈥� he said.聽
The area will have three components. The first will be a business resource centre for people to come in and get help and advice for their business; it鈥檚 a service that is open to all at no cost. Taylor said he welcomes anyone who wants to come in and get advice about their business, regardless of the stage. It could be someone who has an idea in their mind, or the head of a multi-national company looking to come to Estevan.
鈥淚f you want to do business in Estevan, I want to help you do it,鈥� he said.聽
Next will be a co-work space where budding entrepreneurs can rent space or desks, giving them an area in which they鈥檙e surrounded by other aspiring entrepreneurs.
The third area is the business incubator to take companies from early stages, even as early as a business idea, to hopefully to the point where it becomes self-sufficient.
鈥淲e鈥檒l be able to provide space, support, programs, advice and mentorship to new companies that are looking to get started and get off the ground,鈥� said Taylor.
The number of entrepreneurs in the Launchbox will depend on the needs of the individuals. Taylor said they want to be flexible until they know the needs of the entrepreneurs going through the doors.
鈥淪ome of the programs and workshops that we offer will be open to anyone, and if we run over capacity for those, Affinity Credit Union has generously offered us a larger space if we have a lot of interest.鈥�
He believes they have room for eight to 10 people to rent space, but they will likely start with just four rental spots until they can find out exactly what people want.
Taylor describes an incubator as an area where a business can get all of the support, mentorship and resources that it needs to grow and sustain itself.
鈥淚t鈥檚 to help it through that first stage of growth,鈥� said Taylor.
The Launchbox doesn鈥檛 have its first occupants yet. Taylor expects it will start as a business resource centre, but there seems to be a lot of interest from the community in the Launchbox concept.
He鈥檚 really excited to see what the people of Estevan can come up with for businesses and ideas, and what he can do to help.
The incubator was among the ideas put forward by the city for its business incentives program in August 2018. The project has received funding through the federal government鈥檚 Canada Coal Transition Initiative.聽
