- Helping businesses reach their potential and vision.
A StartUp incubator is a collaborative program designed to help new startUps succeed. Incubators help entrepreneurs solve some of the problems commonly associated with running a startup by providing workspace, seed funding, mentoring, and training. The sole purpose of a startup incubator is to help entrepreneurs grow their business.
Startup incubators are usually non-profit organizations, which are usually run by both public and private entities. Incubators are often associated with universities, and some business schools allow their students and alumni to take part in these programs. There are several other incubators, however, that are formed by governments, civic groups, startup organizations or successful entrepreneurs
Business incubation programs are often sponsored by private companies or municipal entities and public institutions, such as colleges and universities. Their goal is to help create and grow young businesses by providing them with necessary support and financial and technical services.
Incubators provide numerous benefits to owners of startup businesses. Their office and manufacturing space are offered at below-market rates, and their staff sup
plies advice and much-needed expertise in developing business and marketing plans as well as helping to fund fledgling businesses. Companies typically spend an average of two years in a business incubator, during which time they often share telephone, secretarial office, and production equipment expenses with other startup companies, to reduce everyone's overhead and operational costs
WHAT ARE THE SERVICES PROVIDED BY THE INCUBATORS?
- Help with business basics
- Networking opportunities
- Marketing assistance
- High-speed Internet access
- Accounting/financial management assistance
- Access to bank loans, loan funds and guarantee programs
- Help with presentation skills
- Connections to higher education resources
- Connections to strategic partners
- Access to angel investors or venture capital
- Comprehensive business training programs
- Advisory boards and mentors
BENEFITS OF INCUBATION FOR A BUSINESS
BENEFITS OF INCUBATION FOR A STARTUP
- MORE FOCUS ON PRODUCT DEVELOPMENT Because startup incubators are there to take care of your daily needs so that you can take focus on your product and services. Another benefit of Startup Incubation Services is that they guide you to move the right way which helps you save time and energy. In conclusion, the idea of startup consulting services is to help you concentrate on your core business. While, they take care of your mundane activities, you can excel in product development
- STRONGER LINKS AND CONNECTIVITY
When you are new in the business, people are hesitant in working with you because of risks involved. Due to this ambiguity, new businesses have to suffer a lot. But if you are a part of Startup Incubator, you can comfortably be a part of the network. New startup get exposure and platform to work. As a result, you have access to the best of the opportunities and leads by being associated with Startup Consulting Services in India.
- LEARN FROM OTHER’S MISTAKES
You cannot make all the mistakes yourself to learn things the right way. Mantra to success lies in keeping yourself updated and improving with every feedback you get from the customer. If You are a part of Startup Incubator, then you will have access to other agencies that exist in your accelerator. As a result, you can go for smart produce development and intense testing, in order to create an impeccable product. For sure, the number of issues can be controlled effectively by learning from other’s mistakes
- GUIDANCE AND COACHING
With Coaches who themselves are entrepreneurs, are there to help you assist you at every step. While they guide you, they also help you define vision and draft strategy. Because they have been in the same field, they make amazing gurus. Moreover, with startup consulting services, you always know that you have someone to guide you right.
- OFFERING SPACE ON FLEXIBLE TERMS
Commercial real estate developers do not find it attractive to lease small spaces to new clients. To make it commercially viable, the per square foot lease rates for small spaces are generally pegged at a higher level than the rates for larger spaces As the incubator has spaces of varied sizes, it is relatively easier for the entrepreneurs to shift to a suitably sized part of the incubator, depending on their changing needs.
- PROVIDING SHARED OFFICE SERVICE
Incubators focused on manufacturing provide additional facilities such as shared storage, loading docks, and tool rooms. Start-ups have a need for these services, but pooling the services allows the incubator to spread the cost among a number of start-ups. Some of these services help entrepreneurs to project a professional image to their business associates and customers without them having to incur the cost of having the in-house services
An entrepreneur is not expected to have all the skills and expertise needed to start and run the business efficiently, but it is important that the entrepreneur have access to consultants and other experts who have the skills and knowledge. The range of consulting services needed by the entrepreneurs can be varied.
- PROVIDING OPPORTUNITIES TO DEVELOP BUSINESS RELATION
The incubator can have a database of suppliers and service providers, which will be of generic interest to a number of sectors, for example printers, website designers, and transporters. If the incubator is focused on a certain industry, they will have an opportunity to develop a similar list of interest to a specific sector. Additionally, the incubators should develop contacts with many others in the industry so that they are able to pass on these contacts to the entrepreneurs that need the specific contacts.
- FACILITATING ACCESS TO CAPITAL
One of the most important activities of an incubator is to get an entrepreneur in touch with the financiers. This process starts when the consulting network of the incubator helps the entrepreneur to refine the business idea and make a business plan. The incubator helps the entrepreneur locate potential source of finance and, in some cases, may even put together a team to directly assist the entrepreneur in securing funding. Most successful incubators have a very strong relationship with funding agencies.
Have Any Questions
Please get in touch with us for the free consultation
© 2019 Urban Guru's. All rights reserved.