In 2002, the Global Food Business Incubation Network (FoodBIN) was created by the Rutgers Food Innovation Center (FIC), as a virtual association of business incubators and innovation centers, with the primary purpose of sharing information and best practices, so that we can work together and facilitate the improvement of local economies worldwide.
Global FoodBIN began as a conference of food incubator and innovation centers. The Rutgers FIC hosted the first conference in 2002, and the last conference which was held in 2008 (click here for an overview of the 2008 conference and all of the presentations). Other conferences have been held at Cornell University, SUNY Morrisville, Oregon State University, and Iowa State University. The Global FoodBIN conference has become the world's leading venue for advancing best practices in food business incubation, and identifying programs, services, funding sources, and partnerships that can maximize impacts to food and agribusinesses within regional economies.
Business incubation is a globally proven model for accelerating the successful development of start-up companies, by providing entrepreneurs with an array of targeted resources and services. The International Business Incubation Association (INBIA) (www.inbia.org) estimates that there are about 7,000 business incubators that exist worldwide, however only a very small percentage (an estimated 1-2%) focus on the food industry.