By Kristen George

COLUMBIA -- Joel Stevenson, executive director for the University of South Carolina/Columbia Technology Incubator, was recently elected to the board of directors for the National Business Incubation Association.

Stevenson said while the accolade is an honor for him personally it is much more important for the USC/Columbia incubator and the state of South Carolina.

To date, no one from South Carolina has ever served on the NBIA Board of Directors in the association’s 35-year existence. Through his participation in businesses incubation on a national level, Stevenson hopes to bring awareness about the benefits of incubation to the state.

“There’s a real push in South Carolina right now by the state Legislature and local governments for the creation of small businesses,” Stevenson said. “Incubation is one way you can do that."

Incubators are generally run by nonprofit organizations and work to nurture the development of entrepreneurial companies by providing them with business resources and support services.

Many incubators, like the USC/Columbia incubator make use of university resources including students, staff, faculty and facilities. Businesses are expected to have a business plan upon entering the incubator, and are expected to graduate within two to three years. Nationwide there are about 1,100 incubators—a dramatic increase from just 12 in 1980, according to the NBIA. Worldwide there are about 5,000 incubators.

Under Stevenson’s eight years as director, the USC/Columbia incubator has grown from hosting one client in a 3,000-square-foot facility to 29 clients in a 50,000-square-foot building. Since its inception in 1998, the USC/Columbia incubator has graduated 17 companies, which have created 483 jobs in and around Columbia. The average salary for a company still in the incubator is $48,750 and average salary for companies that have graduated is $61,450.

While the majority of the companies currently in or graduated from the USC/Columbia incubator are either student companies or small businesses from around the Columbia or the state, there are two international companies in the incubator right now --Spectrum Medical of the United Kingdom and Boroscience of Canada.