Betting on Incubators to Create Jobs
(Businessweek) — Back in 2008, when BizVeo was little more than a business plan in a home office, its two founders joined the Youngstown Business Incubator in northeastern Ohio. Today, two of the eight-person startup’s clients each pay around $65,000 a year to use its software, a video communication tool linking doctors and patients. Chief Executive Tony DeAscentis says the business should be profitable by mid-2012, about four years sooner than he had expected. Incubators are “without a doubt the best thing someone could ask for,” says DeAscentis, 49, who also used the Youngstown incubator to launch, with partners, his first venture, Turning Technologies, now a 200-employee, $40 million maker of software that conducts real-time polling of audiences while they’re watching a presentation.