• Nantucket Island Center for Entrepreneurship

    Frequently Asked Questions

  • What is the Center for Entrepreneurship?
    The Nantucket Island Center for Entrepreneurship (NICE) is the inaugural program offered by the Nantucket Chamber of Commerce to support the business growth of emerging and early stage entrepreneurs on Nantucket.  

    Why are you doing this and how does it fit with the Chamber’s mission?
    Research has shown that businesses started close to the owners’ homes, and those that are coached, tend to achieve higher sales and remain in business for longer periods than those started at a greater distance or without support.  Currently, island entrepreneurs have extremely limited, local resources available to them, unlike their offshore counterparts.  NICE will fill a critical gap for entrepreneurs, between the ideation and growth phase of their business development. By filling this gap for local start-ups, the businesses that are launched as a result should have a greater rate of success, thus contributing more jobs and revenue to the local economy.

    What does the Center offer?
    The Center, housed at the Nantucket Chamber of Commerce’s newly renovated office at Zero Main Street, will offer strategic consulting, mentorship, and peer networking opportunities to local entrepreneurs.  In addition, the Center will offer a state-of-the-art conference room, complete with advanced videoconferencing equipment, and resource library.

    Who should apply?
    In order to be eligible to participate in the program, entrepreneurs must be an island resident interested in starting a business, or those seeking assistance in scaling a small business already operating on the island.  Our goal is to help entrepreneurs in all fields, so there are not limitations about the type of companies we will work with.

    Is there a cost?  Do I have to be a member of the Chamber to participate?
    The Center is generously underwritten by ReMain Nantucket Ventures.  Initial consulting programs and resources are free to qualified entrepreneurs. Chamber membership is not required.

    How do I apply for a consulting session?
    Interested entrepreneurs can apply for an initial consulting session by completing a brief questionnaire available at nantucketchamber.org/NICE.

    Who will I be meeting with?
    The Chamber has tapped Karen Macumber a serial entrepreneur, business owner, and year-round resident, to pilot the new initiative.  Karen will meet with emerging business owners individually to help them with key aspects of their business, as well as harness the deep entrepreneurial and leadership experience of island business community to connect mentors with founders to work on specific aspects of their business.

    What types of topics can you help me with?
    During an initial consultation we can discuss any business challenge, including but not limited to:
           -Product/service market fit and validation
           -Raising capital 
           -Building a business plan and financial pro forma
           -Marketing and sales strategies
           -Strategic partnerships
           -Human resource issues

    How is NICE different from other accelerators?
           -We do not provide awards, prizes or funding.
           -We are open to startups across any industry that can make a positive impact on the
             Nantucket economy.
           -There is no set time commitment required to participate.

    What is your policy on intellectual property protection and non-disclosures?
    Protection of intellectual property rights (ex. patents, trademarks, copyright, trade secrets, etc.) of your concept is your responsibility. If you have an idea or product that you might want to patent, we strongly recommend speaking to a lawyer.  Information you include in your survey responses will potentially be shared with our network of mentors if we feel it will be helpful to you. Please note these mentors, and our team, do NOT sign Non-Disclosure Agreements (NDAs). Therefore, you should not include any information that you feel could be harmful to your company should that information be disclosed.