icier

International Consortium for Innovation and Entrepreneurship Research (ICIER)

Business Incubation

Business incubation is a process that supports the development and growth of start up companies, typically in their early stages. The primary goal of business incubation is to help startups overcome common challenges and increase their chances of success.

A business accelerator is a program that helps companies grow and scale their operations at an accelerated pace. Unlike business incubators, which typically support companies in their early stages, accelerators focus on Startups that have already established their business models and are ready to rapidly expand. The goal of a business accelerator is to speed up the development of Startups by providing them with various resources, mentorship, and access to networks

The Process

Pre Incubation

Submission of application

Submission of the Business Plan

Preliminary discussions

Feasibility Assessment

Signing of the Agreement

 

Incubation

Business assistance

  • Expert counseling and mentoring
  • Guidance and assistance in market research and feasibility study
  • Advice on management, marketing, financial, legal, and product development issues
  • Facilitating exposure to external business resources
  • Intellectual property related assistance
  • Human Resource support and assistance
  • Process engineering and support

Facility based services

  • Office space, shared conference room, secretarial assistance
  • Communication infrastructure (telephone, internet, photocopier, fax machines)

    Networking assistance
  • Connecting with business angels / venture capitalists
  • Connecting with other Entrepreneurs, Management experts, Technologists, Lawyers, Accountants, Business forums etc

Virtual Incubation

  • Allows companies to be located at a place of their choice, but to receive all the support extended by Mentor Max, except the physical space and communication infrastructure

Business Accelerator                

Identification of growth needs

  • Review the business
  • Business diagnostics
  • Identifying the growth need hurdles
  • Identifying and dealing with barriers and facilitators  

          Business idea development

  •   Identify sales strategies and operations              
  •  Establish growth priorities across  the  business            
  •  Revising sales strategies and operations
  •  Motivate the team to achieve more with the same resources 

          Skill development for implementation

  • Building skills and capabilities to the Leadership team
  • Train the trainer
  • Embed culture of innovation

          Assistance for innovation

  • Developing new products, new service, new business models
  • Protecting and monetizing intellectual property (IP)
  • Creating successful partnerships and collaborations
  • Stimulating creativity
  • Converting ideas into business value   

Assistance for strategy development and implementation

  • Identifying the Strategies
  • Defining the implementation methods
  • Mentoring the management team
  • Coaching for strategy implementation         

Monitoring strategy implementation

  • Periodic consultation with the experts
  • Evaluation and modification strategies
  • Implementation
  • Revising plans        

         Networking

  • Access to a wide network of business groups
  • Access to research, reports and industry insight

        Access to Finance
                      Our finance experts help to:               

  • Understand which type of finance is best suited for the business
  • Ensure the financial information is credible and robust
  • Advice the various methods to secure finance that helps the business growth
  • Develop investment plans / pitch