Frequently Asked Questions (FAQ's)

What is a business incubator?
What type of business can move into the MEC?
What does "Licensee" mean?
What criteria do I have to meet to be a Licensee in the MEC?
What is expected of Licensees?
What are the benefits of being located at the MEC?
What access and security do I have for my unit?
What type of insurance is required when you become a Licensee?
What furniture and equipment do I need to move into the MEC?
What communication facilities does the centre offer?
What other equipment is available to licensees?
What does the reception area provide to licensees?
How long can I stay?
Are there meeting rooms available for use within the incubator?
How do I apply for an office?
What is an Associate of the MEC?
What are the benefits of becoming an Associate?

Q) What is a business incubator?

A) A business incubator assists by providing office space and services to develop home-based and small to medium businesses into commercially viable enterprises. The centre provides mentoring, a network of small businesses, business planning and intensive business advice designed to help small business grow.

The Monash Business Incubator located at the Monash Enterprise Centre (MEC) is a not-for-profit association with assistance provided by the Commonwealth Government's Aus-Industry Small Business Incubator Program and local government.

The City of Monash supports the MEC by maintaining the building and providing a strong business network through their Economic Development department. Through the incubator system the MEC provides jobs for the local community and history has shown that businesses graduating from the Incubator often stay within the local area continuing to assist local economic development.

 

Q) What type of business can move into the MEC?

A) There is no restriction on what type of business can operate from the MEC however we do not assist Franchises or businesses that have the support of a Head Office.

 

Q) What does “Licensee” mean?

A) Not a traditional tenant/landlord relationship, Tenants sign a Licence Agreement to share in the services and facilities.

 

Q) What criteria do I have to meet to be a Licensee in the MEC?

A) The MEC looks for businesses that can show the potential to meet the following criteria:

• Demonstrated high growth potential
• Export products or services
• Replace imported products or services
• Provide new products/services or existing products/services in a novel manner
• High employment potential
• Are independently controlled i.e. not an agent or franchise
• Demonstrate a need for assistance provided by MEC.

 

Q) What is expected of Licensees?

A) Licensees are expected to enter into the “philosophy” of the centre and make the most of opportunities provided by the Monash Business Incubator.
Management does have a special relationship with Licensees and encourages open communication at all times.

Amongst other things we have a common sense approach for such things as house-keeping rules, payment of bills, networking opportunities and improving your bottom line with mentoring and coaching.

 

Q) What are the benefits of being located at the MEC?

A) There are many benefits to being located at the MEC including a range of support services, networking and a professional work environment to build your business. Other benefits include:

• Economical monthly licence fees
• Low start up costs
• Tenancy is on a month by month basis: one months notice to vacate
• Easy entry and exit terms
• Licensees can expand or contract their office space while keeping the same address
• Access to communication facilities, kitchen and meeting rooms
• Professional reception services
• Shared facilities of fax, photocopier and tea room to reduce start up costs
• Licensees participate in our Business Development Program designed to assist and promote business growth
• Regular diagnostic assessments to identify opportunities and sources of growth are conducted by the Small Business Mentoring Service (SBMS) at the centre
• Networking opportunities allow Licensees to benefit from each other’s services, expertise and experience
• The MEC also provides access to a range of external networks
• Contacts, referrals and the benefit and support of our Associate network

 

 

Q) What access and security do I have for my unit?

A) Licensees have 24 hours a day, 7 days a week, 365 days a year access to the centre. The MEC maintains a monitored security system and provides you with a key, security pass and pin number to allow you access at your convenience.

 

Q) What type of insurance is required when you become a Licensee?

A) Public Liability to the minimum value of $5M is required. You must provide your policy number, policy value and date of cover on entry to the MEC and annually for the life of the tenancy. Contents insurance should also be taken out.

 

Q) What furniture and equipment do I need to move into the MEC?

A) The MEC offices are furnished with a phone, desk and chairs and only require you to bring your own computer and business products. The centre has a central fax facility and internet options are available for your convenience.

 

Q) What communication facilities does the centre offer?

A) Within your office there are phone, fax and broadband capabilities. Each office is equipped with ISDN voice lines providing each business with a direct in-dial number, voicemail, internet services and fax line if you want to provide your own fax machine. The MEC has a general fax line for use.

 

Q) What other equipment is available to licensees?

A) A photocopier, laminator, television, video, DVD player, data projector, over-head projector, binding machine and other stationery are provided at low rates.

 

Q) What does the reception area provide to licensees?

A) The MEC has a professional reception area with a receptionist there to greet your clients between the hours of 8.30am-4.30pm weekdays. The reception area is there to support your company in a professional manner with administrative support facilities, client referral, transferring of over-flow calls and mail services.

 

Q) How long can I stay?

A) There is no minimum or maximum time limit however the average tenures are between two and three years. It is expected that a business will work towards eventual graduation to their own premises from the moment they move in. Occupancy reviews are conducted quarterly in conjunction with the Small Business Counselling Service. Reviews take into consideration the growth rate of the business, its needs and the impact graduating would have on the business at the time.

  

Q) Are there meeting rooms available for use within the incubator?

A) There are two meeting rooms and one training room available for use by Licensees, Associates and the business community.
Licensees are charged a low rate to use the meeting rooms and receive two hours a week free of charge for the meeting room usage. The training room is charged at a commercially competitive rate (see Rates & Charges).

 

Q) How do I apply for an office?

A) Phone the MEC on (03) 8562 2222 to make an appointment to view the centre and its facilities. To register your interest fill out the no obligation ‘Registration of Interest’ forms. Once a suitable office becomes available we would invite you to fill out an application form and submit your business plan. Your application will be assessed and an appointment made to meet the Chairman of the Board and the Centre Manager. On the successful outcome of these meetings a formal offer is made and a yearly licence agreement is signed.

 

Q) What is an Associate of the MEC?

A) An Associate is also called a virtual tenant. When you join as an Associate your business receives many benefits from the annual membership.

 

Q) What are the benefits of becoming an Associate?

A) Networking opportunities, discount rates on facilities and services, and relevant business and training information are available to Associate members. A mail re-direction service is available at a low cost.