Communities all over the world are trying to understand and replicate the development that has occurred along Route 128 and in Silicon Valley. What magic causes clusters of companies to spring up, as if overnight, grow fast and create thousands of jobs? What support systems, what entrepreneurial infrastructures should communities develop to help companies grow?

Business incubators have been identified as one of the most important elements for success. They are proven tools for creating jobs, encouraging technology transfers and starting new businesses. So it isn't surprising that we are hearing so much about the critical role of incubators in stimulating economic growth in our region.

In short, the primary objective of the O2 Lab Business Incubator is to help entrepreneurs succeed and accelerate the commercialization of new ideas, discoveries and innovations. This is achieved through creating a nurturing environment for young, entrepreneurial companies that have accepted the risk of turning new technologies into viable, profitable businesses.

At O2 Lab, we aim to accelerate the development of young companies by providing hands-on assistance and a variety of business support services. Companies can share expenses for secretaries, phones, faxes, etc., and to expand or contract their office space as needed. In addition, our on-site staff will serve as a resource for business advice while also orchestrating exposure to a network of outside business consultants. As a result O2 Lab companies have access to expert advice that may otherwise have been unaffordable. Equally importantly, O2 Lab could assist with financing. By creating a community of entrepreneurs, we reduce the risks involved in business start-ups and our young companies gain access to facilities and equipment that would otherwise be unattainable.

If you have a business concept which you feel would benefit from incubation in the O2 Lab, we encourage you to submit your business plan to info@o2ventures.com.