THE CHALLENGE

Having purchased an existing technology company and re-oriented its strategy, IPA immediately needed physical space to expand operations. The company had two 24x7 data centers in need of additional space but was hampered by a limited budget and little time for legal hassles or extended negotiations that often accompany the procurement of professional office space.

THE APPROACH

MAGNET’s incubator program provided IPA with professional office space at a reasonable rate with a simple, no-hassle lease. IPA’s new space was “turn-key” ready, with appropriate furniture, phone, voicemail and Internet connectivity all in place and ready to go on day one of their lease. This built-in functionality allowed IPA to immediately focus on building their business, not handling mundane office logistics.

The ability to focus on their core business and not worry about facilities issues was a key factor contributing to brisk growth. The capital savings generated in the first 18 months allowed them to hire two staff members ahead of schedule; a critical accelerator for their business. During their stay in the MAGNET incubator, IPA enjoyed rapid company growth.

In addition to office space, IPA also had immediate access to MAGNET’s wide array of entrepreneurial services, including management, marketing and IT support. These readily available services let IPA continue to focus on their core competency while taking advantage of MAGNET’s entrepreneurial services for management, marketing and IT.
Marketing services in particular were extremely important in helping IPA build their brand and identity.

CUSTOMER QUOTE

“MAGNET’s Entrepreneurial Services offer an environment that is financially attractive, and provides entrepreneurial camaraderie that contributes to enhancing the probability of making it through your first year and after. It’s nice to know there are people there rooting for you and have the expertise to help you succeed.”
Jim Zedella - President