CROSSVILLE – The Cumberland Business Incubator, located on the Roane State Community College Cumberland County campus, has received a $50,000 prize to create a space where entrepreneurs can turn ideas into working prototypes.
The incubator was one of 50 organizations nationwide to receive the prize through the U.S. Small Business Administration’s Growth Accelerator Fund competition. The competition, in its first year, attracted 800 applications from across the country, and finalists were reviewed by a panel of experts in entrepreneurship, investing and business plans.
The prize will be used to add a tinker space inside the incubator. A tinker space provides the equipment and tools entrepreneurs need to develop prototype products.
“An entrepreneur may have an idea for a great product, but they may not have the tools they need to create a prototype,” Holly Hanson, director of the incubator, said. “Part of my dream for utilizing the manufacturing space in the incubator is to help those with lack of access to tools and technology to create new skills, prototypes and businesses. We are thrilled to receive this prize and thankful for the support of the U.S. Small Business Administration.”
For more information about the Cumberland Business Incubator, visit www.cumberlandincubator.com or call (931) 456-4910.