To say the city’s first foray into testing the waters to determine whether the community would support a business incubator was a success – would be a huge understatement.

Nearly 220 excited hopeful entrepreneurs, business owners, investors, community leaders and citizens arrived at the Hilton Hotel in Peachtree Corners for “An Evening of Entrepreneurship & Innovation” this to learn more of the city’s plans for a business incubator. The event also drew entrepreneurs from North Fulton, DeKalb and Cobb counties and students from Georgia Tech as well.

Peachtree Corners, partnering with Georgia Tech’s Enterprise Innovation Institute, teamed up to bring the event to the community.

“I couldn’t be happier with the turnout,” said Mayor Mike Mason afterwards. “I think the business community realizes the huge benefit of having a business incubator here. It would be a key investment for our city’s economic development.”

The evening event launched the Georgia Tech’s study which will include interviews with community leaders, stakeholders and others to determine if the community would support an incubator. The study is expected to be complete by June.

“I’ve been to a lot of these but never seen this kind of energy,” said Georgia Tech’s Don Betts, who spoke during the event. “You have a phenomenal opportunity here.”

“Often organizers fail to focus on what really matters in the process of setting up an incubator cautioned Betts. “Remember, incubation is a process, there is a tendency to focus on a building – instead focus on the nurturing, the assistance and leadership. That’s what it takes to be successful.”

Focusing on the program, the process and support are important to an incubator’s success said Betts. “Find your sweet spot, do what’s right for your community. I look forward to coming back in five years to see what you’ve done. You have the energy to be successful.”

Five panelists, all local entrepreneurs were also part of the evening. The seasoned business owners spoke of their personal challenges, failures and successes in launching their companies. And they had some advice for aspiring entrepreneurs.

“Entrepreneurs have to get used to failure ... it’s not an overnight success,” counseled Karen Robinson Cope who along with her husband, Rick, own Peachtree Corners based Nanolumens.

Panelist Sanjay Parekh, Startup Riot owner added: “Execution and perseverance is all that matters. Don’t think about it – act. Do not let fear get in your way.”

And when do you know you are on to something, asked one hopeful entrepreneur? “When somebody wants to buy your company,” answered Parekh.

It’s a win-win for communities with a successful incubator. Not only is the success much greater when there is an incubator program to help support startups in their early years, those new business owners tend to stay in the same community adding jobs as their businesses grow. For the community, successful businesses add to the local sales revenue.

Watch for more news in the coming months as the city moves forward with this exciting project.