Oklahoma Administrative Code
Title 150 - Oklahoma Department of Commerce
Chapter 75 - Business Incubators Incentive Program
Section 150:75-1-3 - Application contents
Universal Citation: OK Admin Code 150:75-1-3
Current through Vol. 41, No. 13, March 15, 2024
(a) Any company or association seeking to be a sponsor of an incubator and to obtain certification thereof shall submit an application to the Department on such form(s) as the Department may prescribe.
(b) The application shall require submission of the following information:
(1) Incubator Organization - This section
shall include the complete and official name of the organization seeking
incubator sponsorship; legal structure of the organization; location of
proposed incubator site; mission statement and objectives of the organization;
long-term objectives of the incubator; affiliations with other organizations;
proposed incubator service area (including a map); and
(2) Management Team - This section shall
include a summary of management team training, experience, and skills list of
the members of the organization's Board of Directors; and a list of incubator
staff positions with a resume for each staff person with areas of discipline
indicated for each (i.e., management, finance, marketing, etc.); and
(3) Marketing Plan - This section shall
include an overall marketing strategy for the incubator expected occupancy
rate; market/service area to be covered; and
(4) Facilities and Operations - This section
shall include information regarding ownership of the building, description of
the facility, including square footage, layout and design, furnishings,
equipment available to tenants, conference room, tenant, visitor, and employee
parking, etc., facility maintenance, evidence of adequate incubator facility
insurance coverage, and hours of operation. The applicant shall also provide in
this section a copy of land and building title or lease agreement, or other
assurances of long-term availability of the facility to incubator tenants;
legal description of the property, sample contract for incubator tenant lease
agreement; drawing of the layout of the facility, and a copy of certificate of
insurance; and
(5) Fees and Rates -
This section shall include a schedule of rental rates for leased space; fees
for any services being provided by the sponsor; and the basis on which expense
reimbursements will be calculated.
(6) Financial - This section shall contain a
discussion of the sources of funding for the incubator and three year pro-forma
income and cash flow statements, with assumptions. The first year pro-forma
financial statement shall be by month. The remaining two years may be
cumulative.
(7) Support - This
section shall demonstrate how the sponsor will encourage the sharing of ideas
between tenants, aid the incubator and set policy for terminating occupancy of
tenants in order to maximize the opportunity to succeed for the greatest number
of tenants.
Added at 16 Ok Reg 3392, eff 8-12-99; Amended at 18 Ok Reg 3506, eff 9-14-01
Disclaimer: These regulations may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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