Temecula Launches New Business Incubator and Resource Center

The City of Temecula opened its Temecula Valley Entrepreneur’s Exchange (TVE2), a facility that will serve as a resource center and business incubator for companies looking to expand, relocate, or open.

The goal of the TVE2 incubator is to assist innovative start-up companies who are poised to expand their company.  The City is currently soliciting innovative companies that want to participate with the goal of growing their business and sparking job creation.  Rather than focus on a specific industry for client businesses, applications are open to any innovative start-up that has the potential to grow their business, create jobs, and bring an innovative product to market within 2 years.

The incubator program will provide an array of business support services and resources to client companies.  The facility will be located at the former City Hall building at 43200 Business Park Drive.  Furnished work stations and offices will be available at a low cost to companies accepted into the program.  As a benefit, companies will receive mentoring, as well as the use of general office equipment and facility amenities, with no additional cost for utilities or building maintenance. Companies are anticipated to participate in the program for up to 2 years – however, this may be shortened depending on the needs of each company, and to ensure that each company receives the maximum benefit of the program.

In addition to the incubator function, TVE2 will also be a Regional Business Resource Center that assists not only the companies being incubated, but also provides services and resources for many companies in Southwest Riverside County.    As partners to this venture, the Economic Development Corporation of Southwest California (EDC) and the Inland Empire Small Business Development Corporation (IESBDC) will have offices in the building to provide business counseling and services.  In addition, the City has partnered with the Temecula Valley Chamber of Commerce, Cal State San Marcos at Temecula, Mt. San Jacinto College and Tri-Tech SBDC on the project. TVE2 will also be developing advisor networks, leveraging the expertise of business professionals, and providing educational seminars.

The City is currently seeking potential incubator clients to occupy the available space.  Applications for admission can be downloaded on the TVE2 website at www.tve2.org .  The Grand Opening and Open House is scheduled for November 3rd, 2012, 10:00am – noon.

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