Novotorium Helping Entrepreneurs to Grow Their Businesses

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Photo Courtesy of: renjith krishnan / FreeDigitalPhotos.net

According to a report from ‘The San Francisco Chronicle’ Novatorium was extremely
busy during it’s first six months of existence, helping many entrepreneurs to get
started with their dreams. General Manager, Mike Krupit explains that they have
done so through their programs which are both productive and innovative. Mike calls
himself the “survivor” of six prior startups.

Krupit explains the stairway which leads to the second floor offices of Novatorium.
He says that there is inspiring graffiti on the walls which surround the stairs, which
forces most people out of their comfort zone, and admits that he loves the excitement
of working with other entrepreneurs. (newsworks.org). Most entrepreneurs and
business people would not write on the walls. Mike admits his addiction to the world
of entrepreneurship and shares that it is like a drug for most, the culture of it, the
passion, the fast paced world where you never know what to expect. He took his love
for the game and desire to be around other innovative minds and decided to launch
Novatorium, a business incubator.

Novatorium opened for business in November of 2011 in the Philadelphia area. Since
that opening, they have began a good number of programs which were designed to
help entrepreneurs to grow their new businesses. Mike shares that their programs
range from incubation full time, to acceleration groups which are held monthly. They
also feature individual classes, co-working, and sponsorships for those programs
which are focused on entrepreneurs. There are no fees, nor in any equity required
from those entrepreneurs at the outset.

Mike explains that when they first bring a new business into the incubator, they sit
down with them and decide on three month goals. They discuss an action plan, a
resource plan, and then the business is turned loose. It is only after those three months
that Novatorium will even consider any sort of financial investment in the company.
This is different from most business accelerators. He only deals with entrepreneurs
who are interested in long term business ownership, and has no interest in those who
simply wish to start a business and quickly sell.

Mike says that Novatorium is actually not worried about whether or not the idea
is actually a good one. He is more interested in the entrepreneur than in the idea.
It’s very first client was a business website, where people can order food from
local restaurants, and have it delivered to them. Novatorium has four full time staff
members, and a network which consists of over thirty partners. According to their
website, they have, “established a diverse and large (and growing!) team of advisers,
mentors, and service providers. These partners work with Novatorium companies
in a number of different ways – ad hoc support, regular office hours, classes and
seminars, and specific assigned projects. While there might be some email and phone
support, a majority of the teams’ interactions will be on-site to benefit from the
openness and collaboration.

These partners include successful entrepreneurs, senior technologists, finance
professionals, marketers, design and user experience specialists, lawyers, HR

managers, copywriters, and seasoned sales executives. We have many specialties
covered. In marketing alone, we can provide guidance with online, SEO/SEM, email,
direct, print, and PR and publicity. Novotorium’s advisers and mentors also come
from a wide range of verticals, so in many cases we will be able to tailor the expertise
to a given market.”

Angela Kaye Mason is an online researcher, writer, and contributor at entrepreneurweek.com blog network. She may be reached at eyesofananjel@gmail.com. Follow Angela on Twitter. Find her on Facebook .

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