Florida Institute of Technology
Nathan M. Bisk College of Business
Momentum Student Business Incubator
Policies and Procedures
Momentum Student Business Incubator
University Plaza
3150 S. Babcock Street
Suite L1
Melbourne, FL 32901
TABLE OF CONTENTS
Emergency Information…………………………………………………………………………………………4
Incubator Policies
Purpose & Mission…………………………………………………………………………………………………...5
Participation & Termination……………………………………………………………………………………..5
Client Resources & Services
Resources………………………………………………………………………………………………………………..6
Services…………………………………………………………………………………………………………………..6
Client Requirements………………………………………………………………………………………………..7
Use of Momentum Student Business Incubator Premises
Permitted Uses………………………………………………………………………………………………………..7
Group Events and Common Usage……………………………………………………………………………8
Prohibited Uses……………………………………………………………………………………………………….8
Client-Provided Computing Equipment…………………………………………………………………….8
Internet Access………………………………………………………………………………………………………..9
Printers, Copier/Fax, Long-Distance and Other Per-Use Costs………………………………....…9
No Waste Nuisance or Unlawful Purpose………………………………………………………………….9
Break/ Kitchen Area………………………………………………………………………………………………..9
Refrigerator Cleaning………………………………………………………………………………………………10
Animals…………………………………………………………………………………………………………………..10
Parking……………………………………………………………………………………………………………………10
Mail and Mailboxes………………………………………………………………………………………………….10
Letter & Package Deliveries……………………………………………………………………………………..10
Literature………………………………………………………………………………………………………………..10
Time Limits on Participation…………………………………………………………………………..….…11
Employment
Status………………………………………………………………………………………………………………………11
Insurance…………………………………………………………………………………………………………………11
Disclaimers………………………………………………………………………………………………………………12
Advertising………………………………………………………………………………………………………………12
Compliance with Laws……………………………………………………………………………………………...12
TABLE OF CONTENTS (Continued)
Office Hours, Security & Rules
Mailing Address………………………………………………………………………………………………………13
Office Hours…………………………………………………………………………………………………………….13
Keys or Keycards……………………………………………………………………………………………………..13
Guests of SBI Clients………………………………………………………………………….14
Dress Code………………………………………………………………………………………………………………14
Smoking…………………………………………………………………………………………………………………..14
Emergency Information
For Emergencies Please Call 911
Fire or Crime
For Campus Security Related Issues321-674-8111 or8111
Kevin Graham
Director of Security
Momentum Student Business Incubator DirectorOffice321-674-7497
Scott Benjamin Mobile410-808-3228
Nathan M. Bisk College of Business
150 W. University Blvd.
Melbourne, FL 32901
MOMENTUM STUDENT BUSINESS INCUBATOR POLICIES
Purpose and Mission
The mission of the Momentum Student Business Incubator(or “SBI”) is to stimulate the creation of ideas, develop entrepreneurial ventures and provide an environment through which students can create new and emerging companies with the end goal being the creation of profitable businesses. The mission of the SBI extends to the successful development and implementation of non-for profit business as well. These businesses will seek to engage in capital generation, job creation, social value creation and the development of intellectual property and business assets, thus contributing to the local and regional economies.
The SBI has been set up to develop a continuous flow of graduating Clients that form business ventures and subsequently remain in Brevard County and Central Florida over the long-term. By increasing the base of business in this region, the SBI seeks to grow the economic impact and numbers of jobs created for the region.
The SBI seeks to facilitate the development of a viable experiential education model for students and Clients of the Momentum Student Business Incubator. The SBI hopes to provide a series of events and programs that will educate and inform students on entrepreneurial growth and new business creation.
Participation and Termination
The Nathan M. Bisk College of Business has designated certain facilities on the Melbourne campus of Florida Tech to serve as office space including resources and services for Student Businesses herein referred to as the SBI. The SBI is for the sole and exclusive use of Student Businesses and their employees. Only student businesses are eligible to become Clients of the SBI. A student is defined as either a full-time or part-time undergraduate or graduate student currently enrolled in classes at Florida Tech. The currently enrolled student must be a majority owner of the business and the identity of the remaining shareholders must be disclosed and approved by the Director of the SBI before a formal agreement can be executed. The SBI may, but shall not be obligated to, admit Student Businesses into the SBI based upon criteria set by the SBI and the Florida Tech Center for Entrepreneurship and New Business Development, in their sole and absolute discretion. These criteria are highlighted in this policy and procedures manual.
By participating in the SBI, Clients agree to abide by all policies and procedures of the SBI. In order to begin participation at the SBI, the Client must have completed an interview with the Director of the SBI or SBI staff and have completed and executed the SBI Agreement. At its sole and absolute discretion, the SBI may terminate participation in and access to the SBI by any Client or any person at any time, for any reason. The SBI reserves the right to modify, change, or amend these policies and procedures in its sole and absolute discretion and without prior notification to any Client.
CLIENT RESOURCES AND SERVICES
The SBI and its staff will provide many of the following resources and services. Below are some examples of the resources and services that will be provided to our Clients. The SBI will do its best to ensure that these resources are available for your use but can not guarantee availability at any given time.
Resources
- Lighted facilities used as office space
- Access to a conference area equipped with conference table and chairs (subject to availability). All requests shall be made via email to the Director listed above.
- Projection screen in conference area
- Separate common area offices equipped with telephone
These areas are on a first-come, first-served basis. Reservations are requested in order to guarantee available use.
- Desks equipped with computers, monitors, keyboards and mouse
- Access to dry erase boards
- Access to fax machine, printing equipment, limited copier service and telephone service
- Internet connectivity and high-capacity data network
- Mail bin
Services
- Advisory relationship with Director of SBI
- Access to expertise from business community through established incubator networks
- Assistance with business plan development
- Networking opportunities presented at a series of learning seminars
- Invitation to Lunch and Learn Series and Visiting Entrepreneurship Seminars
- Access to a network of service providers and established relationships
- Inclusion on press releases and social media releases concerning incubator and it affiliated ventures
- Marketing assistance when available
- Links on SBI website and any other related marketing
- A creative and collaborative environment
Client Requirements
The SBI requires Clients to comply with many aspects of a professional relationship. The SBI expects:
- Full compliance with this policies and procedures manual and the executed agreement between Client and the SBI
- Conduct typical of an office environment
- Business activities that comply with all local, state and Federal laws
- Disclosure of any material changes to the business as it was originally presented in the introduction interview
- If requested, presentation of periodic financial reporting to the center Director
- Participation in milestone meetings when requested
All office furniture provided by the SBI is the property of the SBI. Upon expiration or earlier termination of its use of Premises, Clients shall surrender and return the office furniture in a condition that is comparable to the condition in which it was issued for the Client’s use, normal wear and tear excepted. The computer workstation and all peripheral devices remains the property of Florida Institute of Technology and must be surrendered in the same condition as received upon moving into the SBI. We recommend that no additional programs be installed on computer workstations without prior permission of the Director of the SBI. Any computing equipment needed, including data storage and servers will be the responsibility of the Client and the SBI assumes no responsibility for this equipment.
USE OF SBI PREMISES
Permitted Uses
The SBI premises are located in University Plaza, on the Florida Tech campus and are comprised of approximately 2,400 square feet, which shall include three (3) separate offices, one (1) conference area, two (2) restrooms, one (1) break room and one (1) bullpen area. Access to the Premises shall be granted or denied by Florida Tech or the director of the SBI, in their sole discretion. Clients may use the Premises for general office or information technology purposes, only (Permitted Uses). Use of the Premises for any use other than the Permitted Uses shall constitute a violation of these policies and may result in an immediate termination of the Client’s privileges and the Client’s continued participation in the SBI. Any use other than the Permitted Uses shall be permitted only upon the written approval of the Director of the SBI in writing, which approval may be granted or withheld in the SBI’s absolute discretion.
Group Events and Common Area Usage
From time to time, the SBI will host events that consist of larger groups from the community whose members want to learn about our programs, your companies, and how to participate in the entrepreneurial ecosystem in the area. These events may occur during normal business, after business hours or on weekends. The SBI will make every effort to host these events in a way and a timeframe that causes as little disruption as possible to the business environment in the facility. These events will be posted to the SBI website[TH1]so that you can be aware of any upcoming use of the space. We welcome the participation of the Clients where possible.
Prohibited Uses
It is specifically understood that the Premises are not suitable for any type of manufacturing or assembly; such activities are strictly prohibited. As a condition of acceptance in the program, Clients agree not to occupy any part of the Premises as sleeping or lodging quarter, centers for parties or other unapproved engagements (together, all of the foregoing prohibitions are, the Prohibited Uses).
Clients shall not interfere with the transmission of heat, air conditioning, electricity, or any other utility or data services through the Premises.
Clients will not loiter in the common area (including the rear service area behind the Premises) and shall keep all doors to the Premises closed at all times, except when in use.
Client-Provided Computing Equipment
Clients may elect to use their own computing equipment in addition to those workstations provided by the SBI. Clients will be responsible for installing and maintaining current antivirus, firewall, and other applications necessary to protect the integrity of the Panther Air and the Florida Institute of Technology network infrastructure. Clients in violation of this standard whose equipment is determined to be the entry point for malware activity may be held responsible for the costs of restoring the SBInetwork to full functionality as well as damage and recovery costs incurred by other Clients and entities sharing the network resource.
Network hardware such as routers, switches and wireless access points are prohibited from being connected to any network provided by the SBI or Florida Institute of Technology.
Internet Access
Florida Tech and the SBI assume no responsibility for information/data transmitted or accessed over the Florida Tech network. Florida Tech assumes no liability for any violations of laws of any state or of the United States with regard to trademark, copyright, patent, libel, slander, and privacy of electronic data communications or any other alleged violation of law, rule or regulation. Clients shall hold harmless and indemnify Florida Tech against claims made as a result of information/data transmitted or accessed in such a manner.
Service interruptions can occur for a number of reasons. The SBI will make efforts to minimize such interruptions, but the SBI and Florida Tech shall not be liable to Clients or others for any loss, damage or expense of any kind whatsoever, including lost profits and indirect and consequential damages resulting directly or indirectly from such interruptions under any circumstances. Clients specifically assume all risks of loss arising from service interruptions.
Printers, Copier/Fax, Long-Distance, and Other Per-Use Costs
Printers, copiers, faxes and long distance service create a cost to the SBI. These costs to use this equipment are billed on a per-use basis to the Client. Clients will be provided with a code for input in order to use this equipment.
Currently, these fees have been suspended by the SBI, but may be instituted at a later date as deemed necessary.
No Waste, Nuisance or Unlawful Purpose
Clients shall not commit or allow any waste on the Premises, nor shall any Client maintain or permit any nuisance on the Premises or use the Premises for any unlawful purpose. If a violation of this policy is noticed, the Client will be issued a warning for a cease and desist of this behavior. A second violation of these policies may result in early termination of the agreement.
Break/Kitchen Area
If you are using the break room while hosting an event, please clean up any food or other debris and leave the space clean for the use of the nextClient that is using this space. It will be the responsibility of the Client, not the guests, to ensure that the break/kitchen area is kept clean. This area will be common space that should be enjoyed by each and every Client within the SBI. We request that the senior leader from each Client be responsible for ensuring the cleanliness of these common areas.
Refrigerator Cleaning
The SBI may elect to provide a refrigerator for use by Clients, their employees and guests. At the end of each week, please remove any remaining food and containers from the refrigerator. Anything remaining over a weekend may be thrown out.
Animals
No dogs, cats, fowl, or other animals shall be brought into or kept in the SBI, unless officially a service or support animal.
Parking
University Plaza offers free parking in front of the retail complex on Babcock Street. This parking is available for visitors to the SBI. All visitors, Clients and their employees must abide by Florida Tech parking rules and regulations and any violation of these rules and regulations falls squarely on the individual and not the SBI. There will be no overnight parking allowed in the University Plaza parking area and any cars remaining overnight will be subject to University Parking guidelines. All staff, faculty and students will park in the parking deck located to the South of the SBI or in any other space allowed by their University issued parking permit.
Mail and Mailboxes
In the break room/kitchen area, each Client shall be assigned a mailbox. Clients understand that the courtesy mailboxes are not locked nor intended to provide secure or confidential delivery of mail items. Use of the courtesy mailboxes shall be at the Client’s sole discretion and risk. The courtesy mailboxes may be used for incoming mail, faxes, and small packages. Clients are solely responsible for all postage charges.
Letter and Package Deliveries
Until the SBI is fully staffed during business hours, the SBI can not guarantee to be available to accept deliveries of any packages or letters requiring signatures. Client acknowledges that packages will be signed for on their behalf if someone is present at the SBI during a package delivery. Letters and packages arriving by USPS mail or received by signature will be placed in or by the mailboxes in the break/kitchen area. The SBI will not notify Clients of any arriving packages. It is the responsibility of the Client to check the mail room for expected deliveries.
Literature
Literature containing information on grants, loans, business management topics, workshops, conferences, special opportunities, and other matters of interest to Clients may be available in the SBI office. Materials are available on a loan basis. Clients are requested to return any borrowed literature.[TH2]
TIME LIMITS ON PARTICIPATION
The privilege to participate in the SBI and use these facilities is subject to review by the SBI Director. Clients are eligible to remain in the SBI facilities for a maximum term as determined by the executed agreement. Typically, this term is three (3) months; however, the term may be extended or shortened by the Director of the SBI, in its sole discretion. Extensions of this term must be in writing by execution of an agreement addendum. The Director of the Florida Tech Center for Entrepreneurship and New Business Development shall review the status of Clients of the SBI on a periodic basis to ensure students in good-standing and acceptable progress on the business venture. Client businesses and Clients that successfully meet these criteria will be offered subsequent extension terms of the initial agreement.
This review will consist of the Client:
- Maintaining satisfactory academic performance of a cumulative grade point average of 2.25
- No disciplinary issues recorded on the student record
- Satisfactory progress on the development of the business venture during the course of the initial term of the agreement. Satisfactory development may include, but not be limited to, successful completion of the business plan, concept development leading to a prototype, preparation of marketing materials, application for financing, setting up accounting processes and/or pursuing licensing and corporate filings.
These review guidelines may be adjusted by the Director of the SBI and certain exceptions may be made on a case-by-case basis by said Director.
EMPLOYMENT
Status
Clients in the SBI acknowledge that none of them is an employee, agent or independent contractor of Florida Tech or of the SBI. No person or Client, whether an enrolled student or not, shall hold him or herself out as employed by Florida Tech. Nothing in this policy or in the Client’s participation in the SBI is intended, or shall be construed, to create any employment or other legal relationship. Each Client is solely responsible for its own compliance with applicable tax withholding and other laws that govern business enterprises.
Insurance
At this time, the SBI has suspended the requirement for Clients to provide a Commercial General Liability Insurance Policy. However, the SBI may, at its own discretion, elect to require Clients to carry this policy. Clients will subsequently agree to carry at all times, Commercial General Liability Insurance (comparable to Comprehensive General Liability Insurance) against all claims or suits with the following minimum limits of liability: $500,000.00 combined single limit for bodily injury and property damage, per occurrence and in the aggregate. The policy shall name Florida Institute of Technology as an additional insured. Clients shall deliver a certificate evidencing such coverage which certificate shall be filed with Florida Tech within 30 days of request by the SBI. The SBI understands that different businesses carry different risks for the University. The risk management department at Florida Tech will evaluate the specific risks associated with each business, and its exposure of risk to the University, on a case-by-case basis to determine the appropriate amount of insurance coverage for each policy.