The aim of this guide is to develop an incubation program that will help young entrepreneurs build scalable and successful startups. It follows a university incubation model where we will follow a diversified incubation industry approach instead of creating a niche industry focus.
According to the cluster theory, proximity to knowledge-based resources (ex. universities, professors, learning peers, etc.) and network-based resources (ex. business hubs, market places, VC offices, and social events) plays a substantial role in the growth trajectory of startups, even after graduation, and eventually builds credibility for the incubator.
<aside> 💡 Vision : Inspiring Innovations and Nurturing Startups
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<aside> ☝🏼 Mission : Encouraging entrepreneurship and supporting entrepreneurs through their journeys from Ideation to Funding
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<aside> 🎯 Goal : Create a 3 month launchpad for entrepreneurs to help them drive the venture from ideation phase to the pre-seed funding
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The incubation program’s core curriculum will run for 16 weeks, preceded by a rigorous application and selection process that will span over 9 weeks. The cohort will commence in the 1st week of February and will graduate in the May. During the period of 16 weeks, each of the cohort’s ventures will go through phases of research and prototyping. The detailed timeline and description of the course are mentioned in the timeline for the program below.
| Program length | 16 Weeks |
|---|---|
| Stage of companies in cohorts | Idea Stage |
| Companies per cohort | 3-5 |
| Application deadline | December |
| Evaluation and Selection | January |
| Cohort timeline | February - May |
Instead of just providing a co-working space, a successful incubator should provide real value to the participating ventures, and success matrices should track more than just funding.