The company name sums it up nicely. The dictionary definition of Incipient is: Beginning to be, or to show itself; commencing; initial; as, the incipient stage of a fever; incipient light of day.
This definition appears on Incipients Website, slightly edited, mind you (someone has understandably cut out the incipient stage of a fever bit).
Unfortunately Reich was unable to tell Byte and Switch when it will be anything more than a vision thing. We are locking down plans, its still very early for us, he says.