Last Updated: May 5, 2014
This policy applies to all Incubation Program Lessee Companies.
Reviews. In order to encourage the successful growth of Incubation Program Lessee Companies, the University requires that each Incubation Program company participates in a formal review at the following times:
- six months after acceptance in the Incubation Program; and
- annually thereafter
During the Review Meeting, the Incubation Program Lessee Company will describe in detail its progress against its development, marketing, sales and financial goals. This review can determine if lease extensions may be granted and should provide feedback to the company to support its progress – for Incubation Program staff, it should provide the information necessary to identify mentors or service providers to help with company needs.
Reporting. In order for the University to demonstrate the value of the Incubation Program to the University and to the State, each Incubation Program Company will provide information to the Incubation Program Executive Director/designate upon request at the end of each calendar quarter or some other determined period. The current information to be provided by each Lessee Company to the Incubation Program is:
- Number of employees
- Award of Grants and amounts
- Closing of financing, including loan or equity investment, and amounts
- Media Stories featuring the Incubation Program Company
The Incubation Program will use this information only in aggregate with the information of other Incubation Program Lessee Companies, and will not publish any company-specific information without prior approval by the Company.
Additional Required Information. In order for the Incubation Program to comply with its own reporting requirements to the University, Lessee Companies are required to provide to the Incubation Program at each Review meeting, additional, current operational information as follows:
- Environmental Health & Safety Form
- Faculty Compliance Form
- KFS Pledge
- Copies of the company’s Foreign Student Work Logs
- An updated list of employees and their work contact information
Other information requests. In addition, each Incubation Program Company is required to promptly reply to other reasonable requests by the Incubation Program for information.