When you have worked through your business idea a few times and have a verified business model your company has the potential to grow and take its place on the market. At this point you can apply to our Scale phase. During the incubation process our business support is tailored for the needs of growing startup at heart. Thus the focus lies on tools you and your team need to make those efficient iterations, risk eliminations, and to help you make quick and accurate decisions prior to launch.
We have three phases in our business development support. Start is our preincubation phase, Scale is our incubator phase, and Keep growing is where we offer support to companies who want to do just that – keep growing, with the addition of new kinds of competence, international contacts, help in marketing, etcetera.
In the Scale phase we focus on topics like building the right team; with the right components and people, HR, customer needs, strategies for intellectual property rights (patents, etcetera), marketing strategies, sales and financial solutions and finding investors. Central in all this work are the Lean and Customer Development Methodology.
If you apply and are accepted to the incubator your team will have access to a shared office space at Uminova Innovation and you will get to work closer to other entrepreneurs in the same phase, entrepreneurs that are facing the same kind of challenges that you are facing; and in close contact with our business developers.
Our business support is free of charge, thanks to our financiers and partners.
In our book you are a scaleup when you and your team have found a business model and a solution that work and it is time to start transforming that potential into profit. The challenge is to, as quickly as possible, find the right ingredients and formula for that rapid growth spurt, not wasting time and resources on the wrong things. As a scaleup you are looking for exponential, not linear, growth and as your potential is not automatically converted to business you have to define and create situations for this to happen.
To be considered for our incubator you have to
- Have a verified and scaleable business model, based on an innovative idea and with potential to grow
- Have a team of at least two persons, with different profiles and areas of expertise
- Be willing and able to work on your business at 50 percent of a full time
- Have the drive, determination and courage