Overview
What is Peninsula Technology Incubator?
Peninsula Technology Incubator (PTI) is a nonprofit organization, commissioned by Hampton Industrial Development Authority (HAMPTON IDA), dedicated to nurturing and fostering the growth of emerging technology businesses in the Hampton Roads area. PTI offers various resources to startups, such as office accommodations, laboratory access, and business consulting services. They assist in creating business plans, marketing development, and capitalization, and have catalyzed the organization and management of a regional accelerator, 757 Accelerate, providing additional business and entrepreneurial services. PTI's relationship with first-stage investors offers seed funding and early-stage funding for companies in the region, ensuring needed capital during their delicate early stages of growth and development. PTI also supports entrepreneurial education and outreach in the Hampton Roads area, collaborating with researchers and students from NIA and local universities to advance technology commercialization objectives. Through business technology showcase events, competitions, and partnerships with STEM programs, PTI plays a significant role in the regional tech ecosystem.
Official website here: www.reaktoraccelerator.org
Is Peninsula Technology Incubator legitimate?
Peninsula Technology Incubator is a legitimate nonprofit organization registered as a 501(c)(3) entity. Peninsula Technology Incubator submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.reaktoraccelerator.org
What is the mission statement of Peninsula Technology Incubator?
The Peninsula Technology Incubator (PTI) is committed to fostering the development of innovative small businesses with the potential to significantly impact the world. Commissioned by the Hampton Industrial Development Authority, PTI provides resources to startups, assisting them in implementing their business plans and working towards securing capital. The organization's primary goal is to nurture and support emerging technology businesses in the Hampton Roads area, contributing to the growth of the technology sector.
Official website here: www.reaktoraccelerator.org
What is the revenue of Peninsula Technology Incubator?
Peninsula Technology Incubator's revenue in 2022 was $125,858.
Official website here: www.reaktoraccelerator.org
Who are the executives of Peninsula Technology Incubator and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $424,336
- Other: $51,566
- Compensation: $0
- Related: $169,732
- Other: $26,910
- Compensation: $0
- Related: $5,000
- Other: $0
- Compensation: $0
- Related: $198,984
- Other: $29,563
- Compensation: $0
- Related: $257,830
- Other: $24,800
Official website here: www.reaktoraccelerator.org
Where can I find the form 990 for Peninsula Technology Incubator?
Peninsula Technology Incubator's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.reaktoraccelerator.org
Learn more at the official website: www.reaktoraccelerator.org
Mission Statement of Peninsula Technology Incubator
The Peninsula Technology Incubator, a organization commissioned by the Hampton Industry Development Authority, is dedicated to nurturing the growth of emerging technology businesses. This nonprofit organization provides startups with the resources they need to position themselves effectively as they implement their business plans and work towards securing capital. The Peninsula Technology Incubator's mission is to support these budding businesses, helping them transform their ideas into successful small enterprises that have the potential to impact the world positively.
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Impact
October, 2024
Peninsula Technology Incubator (PTI) significantly impacts the business landscape in the Hampton Roads area by transforming innovative ideas into viable small businesses poised to make a difference. By offering essential resources such as office space, laboratory access, and expert consulting services, PTI supports startups in developing comprehensive business plans and marketing strategies.
The incubator plays a crucial role in fostering entrepreneurial growth through its collaboration with the 757 Accelerate regional accelerator, which provides additional support and early-stage funding for new ventures. This partnership ensures that nascent businesses have the necessary capital to navigate the critical early phase of their development.
PTI not only nurtures businesses but also invests in the community's future by engaging with local universities and schools to promote entrepreneurial education. Through business plan competitions and technology showcase events, PTI encourages innovation and skill development among students from various educational backgrounds.
By focusing on technology commercialization and leveraging the expertise of researchers and graduate students, PTI enhances the overall economic vitality of the region, solidifying its commitment to community improvement and sustainable business growth.
This information is meant to be a general summary of Peninsula Technology Incubator. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2
- Program Service Revenue: $20,856
- Gross Receipts: $125,858
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$20,856
Organization Details
Founding Year
2011
Principal Officer
Douglas D Stanley
Website
www.reaktoraccelerator.orgNTEE Category
Code: S30 - Community improvement
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