Businesses are Hatching at the Incubator!

Unlimited Future Inc. (UFI) is a business incubator and resource center for the Tri-State.  We provide critical support services and education that entrepreneurs need to be successful.

Business Incubator – space and services that will contribute to start-up success. Access to a network of experts, peer interaction, and technical assistance are included with each office.

On Track Mentors – Volunteer mentor teams that leverage diversified experience and knowledge of the mentors to help entrepreneurs build successful and profitable ventures.

Business Planning for Profit – 6 week class covering all aspects of getting a business started the RIGHT way.

Business Plan Writing – 4 week class covering how to write an effective business plan when seeking financing for a new or existing venture.

History of Unlimited Future, Inc.

In August 1991, an organizational committee comprised of representatives from the Marshall University Research Corporation met at the Robert C. Byrd Institute in Huntington, West Virginia.  The Research Corporation operated a shared research and development facility for economic development initiatives in the Tri-State area of West Virginia, Ohio and Kentucky.  The purpose of this initial meeting was to devise a way to attract both public and private interests to businesses related to flexible manufacturing, communication/information systems and traditional businesses.    On October 25, 1991, Unlimited Future, Incorporated (UFI) was incorporated as a 501(c)(3) not-for-profit corporation based in Huntington, West Virginia to achieve this goal.

The organizational meeting of UFI was held in November 1991, where the Board of Directors developed a mission statement and general plan of action for implementation in the spring of 1992.   UFI sought to: (1) promote ownership and management of advanced flexible manufacturing businesses by members of disadvantaged groups, (2) facilitate business start-ups which were not necessarily high-tech in nature but which could generate jobs for non-business owners, and (3) acquire a facility to use as a business and manufacturing incubator in which prospective entrepreneurs could develop their conceptual ideas into marketable products and services.

UFI obtained technical assistance from Marshall University and financial assistance from private resources to carry out its plan of action.   In 1993, UFI commissioned Stacey and Associates to prepare a feasibility study to determine if the critical mass elements deemed important for business incubator success were present in Huntington and Cabell County.  The Stacey report, entitled Cabell County Business Incubator Feasibility Study, offered the following key recommendations and conclusions to UFI:

  • The negative trends in employment might well support the need for a business incubator.
  • The most important factor in the overall critical mass survey was local leadership attitude, which was found to be very positive in Huntington and Cabell County.
  • The weaknesses in the local economy could be overcome by the positive local leadership attitudes and totally overcome with an innovative program design.
  • Few initiatives existed to bring minority entrepreneurs into the economic mainstream.  As a result, it would be necessary to bring the incubator into minority neighborhoods to stimulate demand.
  • The efforts of the UFI Board would be critical to the new program, not only because it has experience in minority programs, but also because the members provide a critical role modeling element.
  • The program should be innovative, offering a strong training curriculum with access to capital, targeted to individuals with little or no business skills.
  • The incubator program should be administered and managed by a board of directors that would set policy and oversee operations.  An Executive Director and a Facilities Manager would need to be employed to carry out the daily operations of the program.

As a result of these recommendations, UFI has developed an innovative program design that focuses on a more intensive technical assistance component coupled with access to capital.  The small business incubator is physically located in Fairfield, the historical African-American neighborhood in Huntington.  The UFI Board of Directors have played a critical role in development of the business training program by becoming personally committed and involved in several aspects of the program.

After several years of planning and development activities, UFI opened the doors to the region’s newest small business incubator at 1650 Eighth Avenue in Huntington, and UFI began offering technical and financial assistance in its efforts to achieve its primary vision for the region.  Since that time, the small business incubator has been the exclusive vehicle through which UFI has offered its services to the Tri-State region.   UFI continues to provide the business development services as envisioned by its Board of Directors in four areas of emphasis:

  • Entrepreneur Training
  • Access to Capital
  • Incubator Space
  • Business Consulting and Mentoring

2009 Annual Report