The Incubation Factory has a nearly twenty-year history in identifying, accelerating, launching and governing early stage companies. By institutionalizing lessons learned from the Inc. 500 successes and applying those principles to the tech-transfer industry, the company properly addresses the needs and solves the inefficiencies of the current system. Using techniques prevalent amongst the fastest growing companies in the country, and then improving upon these based on real-world lessons, The Incubation Factory has successfully established two tranches of portfolio companies and is in the process of creating a third tranche.
1993 – 2003: TIF Tech Fund evolved from Anthony, Allan & Quinn, Inc. (“AAQ”) which was founded in 1993 by AAQ’s current CEO Dan Schmitt and two partners. AAQ successfully launched eight companies from 1993 to 2003, three of which grew rapidly enough to qualify for the Inc. 500 List of the Fastest Growing Private Companies in America. In 1997, recognizing a tremendous need and opportunity for streamlining back office claim processing for the healthcare industry, AAQ founded Advanced Business Fulfillment (“ABF”) to serve insurance companies, managed care organizations, HMOs and third-party administrators. By 2003, ABF ranked No. 23 nationally and No. 1 in Missouri on the Inc. 500 List. In July 2003, ABF was sold to publicly-traded WebMD for $260 million.
Through this experience AAQ performed an in-depth study of their Inc. 500 peer group, analyzing what made these companies successful as well as why other companies fail. These findings created an opportunity to introduce a paradigm shift in the innovation process, as it was discovered that companies make the same mistakes and missed out on the same opportunities across industries and businesses.
2003 – 2007: As a serial entrepreneur and angel investor, Schmitt realized AAQ could leverage its expertise in quickly and effectively building companies to provide a scalable model to enable new start-up companies to rapidly go to market or enable existing companies to rapidly launch new products and avoid the mistakes frequently made by start-up companies. The result was the inception of The Incubation Factory. From 2003-06, he created core service companies (providing Accounting, Legal, Operations, Human Resources, Account Management, Advertising and Promotion to serve as Accelerator Companies for innovation. At the same time, he built a collaborative software platform to perfect the methodology for technology innovation and began incubation of fifteen companies to validate the Business Model.
We learned many lessons defining the highest probability for a successful outcome by translating Inc 500 best practices into a scalable platform which has been validated conceptually (based on Best Practices), referentially (based on Kauffman Studies) and in the field, (AAQ Application).
2008-Present: AAQ and its wholly-owned subsidiary, The Incubation Factory, LLC transferred their respective ownership in the Partner and Portfolio Companies to TIF Tech Fund. We solidified a proven model for economic development and have secured eighteen technologies for incubation from AAQ and The Incubation Factory, LLC, many of which the Company believes will dominate their respective fields. To finish off the “factory” concept for innovation, we have assembled a management team consisting of executives and principals with exceptional career experiences and skill sets including serial entrepreneurs, six sigma trained scientists, Tech Transfer specialists, healthcare executives, financial services executives, elite business development executives, and strategic consultants with entities ranging from small start-ups to multi-billion dollar organizations.
The Incubation Factory is introducing a first-ever “Perpetual Portfolio” of opportunities as a means to systematically identify, launch, accelerate and govern the development of world-class technologies into valuable commercial enterprises.