The Northern Alberta Business Incubator is a mixed-use, not-for-profit, incubator that has served the needs of Edmonton area entrepreneurs for almost twenty years. As a mixed use incubator, NABI's focus is not limited to any specific sector, and the range of businesses that hold tenancy within the building is quite diverse. The organization is based in St. Albert, Alberta.
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History
The incubator was launched by the city of St. Albert, Alberta in 1989, aptly named the St. Albert Business Development Centre. With a focus on expanding the local economy, the incubator focused on providing local entrepreneurs with a starting point to help establish their business. After operating for many years as the St. Albert Business Development Centre, the incubator switched the name to the Northern Alberta Business Incubator, or NABI. Since 1989, the incubator has contributed significantly to the local economy, allowing for over $100 million in economic development, with their current tenants generating $11 million in annual sales. In 2002, NABI was awarded with the Business Incubator of the year award by the National Business Incubation Association in recognition of the impact that NABI has had on the local economy.
Services
NABI currently provides services to help the aspiring entrepreneur achieve success within their business. The main focus is on providing educational programs and seminars for better business planning as well as individual business coaching with current and potential business owners. The business programs that are offered are part of the NxLevel series of entrepreneurial education and are done in conjunction with a business coach as well as the business owner. In the future, NABI would like to develop the business plan training and individual coaching as the core services they provide. Also, NABI is currently fund raising for a new, state-of-the-art building to allow for a greater number of businesses to host their businesses within the incubator.
Graduates
Since its inception, NABI has helped over seventy five businesses graduate from the incubation process. These graduates have since gone on to conduct business outside of the incubator, although some still utilize NABI's small business coaching programs.