Incubators & Accelerators PDF

Incubators & Accelerators Presented by Jean Mae Caratao Basis of Distinction Accelerators Incubators Accelerator is a place for existing business that Incubator is a place for new small businesses an...

Incubators & Accelerators Presented by Jean Mae Caratao Basis of Distinction Accelerators Incubators Accelerator is a place for existing business that Incubator is a place for new small businesses and startups that offer Definition helps them achieving growth in their businesses. support staff and equipment for further development. Support startups with an array of business Objective support resources and services, orchestrated Support startups with a structured program along fixed curricula. by incubator. Time Period Intense three to four-month program Less time pressure and less intensive. Business Model Large mentor-driven business network Smaller mentor network Entrance All can apply Restricted and depends on the incubator Selection Extremely selective Usually less selective Equity Ratio Take 6 to 8% equity stake No equity stake was taken Resources Ample Some Areas The Web,mobile,IT Biotech,Medtech and products  Competitive - based on available space and Selection Process Competetive-essential to business model resources Fast test validation of ideas, with mentoring Management support, IP rights assistance, networking Services support from experienced entrepreneur and seed- and access to external financing funding. Notable Incubators in the Philippines: 1.AI-Dado Banatao Incubators - The goal of this partnership is to give startups the mentorship, training and support network they need to build and grow their business. 2.Kickstart Ventures - This is the subsidiary of Globe Telecom that offers mentorship for sex months incubator period and even fund those chosen startups that can solve real life local and global problrems 3.Ideaspace Foundation - While kickstart is offered by Globe, this time Ideaspace is an incubator firm backed by its competitor which is Smart Communications. 4.Launchgarage - This program is a partnership between Globe telco-backed Kickstart Ventures and web engineering firm Proudcloud. Each startup is called “garageheads” which is offered a five-month incubation period. 5.UP Enterprises Center for Technopreneurship - The University of the Philipppines, a state university and owned by the government has also its incubation program. It offers its Diliman campus as a working space for its six months` incubation period. 6.DOST-PEZA Open Technology Business Incubation (OpenTBI) - The Department of Science and Technology and the Philippine Economic Zone AUthority created a partnership to sharpen tech-inclined entrepreneurs  Distinguished accelerators in the Philippines 1.The Founder Institute - Based on Manila, this global idea- stage accelerator offers aspiring entrepreneurs with a structure, mentorship, and robust network needed to win the challenges of their startup journey. 2. A Space`s _PASSPRT - As an accelerator, participants are provided with flexible workshops, class materials and intruductions to investors by the end of the program.  Both Incubator and Accelerator 1. Celebro Labs - Here, chosen startups are provided a seed money of P60,000 cash and granted a six-week intensive Incubation program of training and mentoring. AMong the preks given to participants are the use of working space, office equipment sharing, Internet, consultancy and the access to Celebro Lab`s Silicon Valley-trained staff. 2. StartUp Village - as both an incubator and accelerator, StartUp Village hopes to bring exceptional ideas and concepts to actuality. It was founded by Let`s Go Foundation and powered by the Google Developers Launchpad. The primary focus is on disuptors that ditaurbance the industry or a revolutionary product that makes a brand new industry.  Networking to Build the Founding Team Networking is also very important in building a founding team for startup businesses. Actually, there are few research results which would prove that a good founding team offers a good chance for the success of the startups. Traits of the members of the Founding Team 1. The Prima Donna Genius - He is full passion and regarded as the most high- risked member of the team. 2. The Superstar - This is the person who always gets things done and complete task. 3. The Leader - This person not essentially the Chief Executive Officer(CEO), not the person who has the biggest salary, not the person with the highest equity. He is the kind of individual that every person looks up to and people are willing to follow him particular when there is conflict and controversial decision to be formed. 4. The Industry Veteran - For a startup, it pays to have someone in the team who is well-versed about the ins and out of the industry. He has seen and has been immersed in the competitive landscape of the industry. 5. The Sales Animal - Brilliant ideas need someone yo sell them. A strong salesperson in the founding team shall lessen the risks in a startup business. With very experienced salesperson, the startup could beat competition. 6. The Financial Suit - A professional controller is necessary for startup to handle financial risks. It is vital for a team to include someone who shall oversee the finance function. Characteristics of a Great Founding Team No one will work harder and care for a company than its founding team. The role of the founding team is knowing what works best and determine when and how to make changes. Founders do not have salary and only earn from equity, but they are very basis why a company succeeds or fails. The founding always sets the tone for the company culture which is very difficult to change. 1. Hungry for Knowledge , even when plans change - There is no such thing as fixed plan. The original will almost likely change with multiple pivots. Members of the founding should be able to quickly make changes in order to attain long- term growth. Founding team members must always be open to new ideas even not their own. They must be eager to challenge the rest of the team to identify the best and innovative solutions to problems. 2. Admit mistakes - Often committing mistakes is considered a weakness. In reality, mistakes nee to be accepted and even celebrated so that the founding team would operate with positivity. Admittance of mistakes should start from the founders, so that employees will follow. Everyone in the company should understand that leaders are not perfect which needs to be accepted. 3. Failing is not defeat - Being brave should be the kind of determination that founders must be possess. Being able to admit failure is important to build a strong founding team. Failing even for several times but still continue to move forward despite obstacles is the one that separates the good from the great team. 4. All members are obsessed - Members of the founding team must all be hyperactive. Solving problems equipped with healthy obsession makes founders take a big leap of faith to begin with the startup. It is vital that all founding members should share the obsession to build a strong team. This shared obsession will glue them together to be successful despite storms. No founding team has all the capabilities necessary to run a business. The team should also be aware that they are need to strategically fill in those spaces that they lack. The team must hire employees to fill the need for talents.