Frequently Asked Questions
- How much is rent at ETI?
A client’s rent at ETI is dependent on a few factors: square footage of the space and type of client-in-residence you are (i.e., faculty/staff/student/alumni vs. traditional client vs. contest winner vs. virtual client). ETI features a tiered rent schedule so a client’s first six month’s rent is 25% of the total rent paid in year two. Please call ETI at 814.459.6068 to set up a tour and discuss pricing.
- What is the process of applying to ETI?
The first step is to congratulate yourself on making the decision to become an entrepreneur! The process is as simple as filling out the short questionnaire by clicking here. Once your answers have been received, a staff member from ETI will contact you to go through the process of applying to ETI that culminates with: the submission of a business plan; financial projections; and going through an intake meeting.
- What are the ongoing program requirements to stay in ETI?
The ongoing program requirements to remain in ETI include:
- Creating goals and reporting on the goals every two months
- Participating in mentor meetings
- Becoming a client or maintaining a client relationship with the Small Business Development Center
- Being receptive to advice received
- Provide financial statements and employee count every two months (due the same time as goal updates)
- Participate in programming
- How much ownership, if any, will the incubator have in my startup?
ETI will never require its clients to give up equity in their company as a condition for acceptance into the incubator.
- What does ETI provide?
ETI provides the following programs and services to its clients:
- Integrated mentoring program featuring seasoned business leaders, entrepreneurs, and Gannon University faculty
- 1:1 coaching
- Business development seminars and workshops
- Monthly business and personal/professional development programing
- Market research
- Business plan development and refinement
- Introductions to qualified investors/resources
- Professional services contacts including CPA’s, consultants, and general business/intellectual property attorneys
- Furnished office space
- Fully-equipped conference room
- Mailroom with an opportunity-zone address
- A receptionist to greet your visitors
- 24/7 access for Resident Clients
- Room to grow and expand within the incubator
- A convenient location in the heart of downtown Erie
- Access to the Entrepreneur Ecosystem that contains ETI, Small Business Development Center, and the Gannon University Beehive
- What is the intake process for becoming an ETI client?
The intake process for becoming an ETI client is twofold. First, a startup needs to complete a business plan, financial forecast for three years, and have a pitch presentation. Secondly, an intake meeting with ETI’s Intake Committee will take place. This meeting will consist of a 15 minute pitch presentation and Q&A session regarding your idea. You will be judged in the following areas:
- Coachability – likelihood that a client will heed advice of mentors
- Level of Commitment – likelihood that clients makes a priority of seeing this business succeed
- Potential Scalability – potential for growing sales, attracting capital, hiring employees, etc.
- Commercial Viability – likelihood the company will have a place in the market, capture market share, and be well-positioned in the market
- Managerial Ability – client has the requisite education/background to see this company succeed
- Fiscal Ability – client has the potential to raise funds, commercialize the product/idea
You will know within 24 hours if you are the newest member of ETI!
- Does ETI help with funding?
Though ETI does not provide direct funding, it does help identify possible sources based on individual client needs and sets up introductions.
- Do you have to be an SBDC client prior to becoming an ETI Client?
No, you do not, but we would recommend that when you are ready you become an SBDC client in order to take advantage of all of the great, free programming they have to offer.
- What type of programming does ETI offer?
ETI offers monthly programming to our ETI clients and other local incubator clients. Programs offered are based on the needs of our clients and the interest they have expressed regarding certain topics. Business and Professional Development workshops are taught by Gannon University faculty, ETI Clients and Affiliate Members, and community members. Examples of programming scheduled include:
- Business Plan 8-Week Boot Camp
- Marketing 101 Boot Camp
- Quarterly Book Club
- Entrepreneur Start-Up Panel
- Quarterly Pitch Competition
- The Power of You
- Work/Life Balance/Effective Time Management
- Entrepreneur Documentary Viewing and Discussion
- Goal Setting Techniques
- Working with a Mentors
- Will ETI help me grow AFTER I graduate?
ETI will always be available to support you and your startup after graduation through continued connection building with third parties, ETI Alumni participation and ongoing mentorship.