Business owners at their earlier startup phase can go for Incubator programs as a funding option. As Business incubators in India, Icreate not only help in funding the Startup Incubators but also work as an entrepreneurship mentor for a business as well as startup & entrepreneurs. Where to Go In India, popular business incubator is ICREATE. ICREATE stands for International Centre for Entrepreneurship and Technology. ICreate facilitates the incubation of the business idea and convert the idea into a feasible concept to develop it and acquire initial customers. This will involve funding also. The Spark-Up Idea Fund is designed with an aim to Seek & Amplify the entrepreneurial traits of aspiring student entrepreneurs, wherein deserving ideas/projects would be supported and funded up-to Rs. 50,000 each. This is a unique opportunity for students to take their technovative idea to the next level. ANGEL FUNDING by iCreate provides early stage and seed funding to gain better valuation for the start-ups before a venture capitalist enters.
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Hello Everyone, If you haven't read my previous blog about For Startup Business and Entrepreneurs, How to avoid funding rejections? than here is the link to it. This is the continuous part. Let's Continue... Research After making list of the investors and VCs who can provide you sufficient fund it comes to do research on them. Make sure you know everything about them. Like their track record, past promotions and promoters, organizations that they have funded before and many other things that can give insight and knowledge about them. Even meet the people and organization that they have funded, check the internet about their information, etc. How to Contact “First impression in last impression”, Hence try to make first impression last longer. To do that find a credible intermediary, be it an entrepreneur, startup, or any organization that they have funded, renowned professional who is common contact and associate or anyone who is known to both. You have to make sure that you provide a proper briefing to the person whom you meet. Business Plan This is the most crucial and critical stage because investors get many plans and proposals, therefore rejection rate is very high. Make a plan that is error-free, succinct and concise. Make a list of the idea, product, how it will grow, its USP (Unique Selling Point), Current market approach, team members and their expertise, completed product and beta customers, Review and analysis about the product. Prepare for Meeting If your plan passes through starting stage and you get a chance of meeting, than be prepared to answer all the questions. Be precise, accurate and ready to cover any aspect that investors may want to discuss. That means that you must cover all the area and be ready for anything that you might have forgot to cover. For more detail get in touch with us: http://icreate.org.in/ https://icreateorginblog.wordpress.com/2017/06/20/for-startup-business-and-entrepreneurs-how-to-avoid-funding-rejections-part-2/ There are many ways to get funding and you can search online detailed information about it and all the procedure related to the funding. But even after that many startups and entrepreneurs hesitate and falter at the first stage to get and secure funding for them. The simple reason behind it can be their unplanned, unrealistic, impractical and ill-conceived strategy. This kind of approach can result in instant rejection for them. To ensure your funding you must follow steps like below: Location It is said that “It is easy to get funds from across the country, but be careful and pay attention to proximity”. One you start your operations it will be easier for local investors to check and add extra value in it, especially in the early stages of the operation. Industry Preference You have to shortlist VCs and angel investors as per their area of expertise and liking. It won’t be helpful if the funding you want for technology but the investors are in favor of traveling. So choose them wisely. Funding Stage Funding stages are important as there are many stages from start till you become successful and even after that. Depending on that you have to choose VCs and Investors. For example there are some VCs and Investors that only supports startup at the early stage like seed stage and other who supports growth or late stage development. So if you approach the VC or investor, who only funds or backs the seed venture, when you require growth or late stage development funding than the rejection for your project is guaranteed. Fund Limit There are limitations to the funds that you can get depending on VCs and Angel investments. Because even they can have limitation for funding that they can provide to any startup or entrepreneurs. Therefore choose the VC or Investor as per your funding limit and requirement so that your work can go smoothly without any problem of funds. The other Steps will be shown in part 2 of this topic. For more detail visit our website: http://icreate.org.in/ Thank You. ICREATE | An organization that helps startup and entrepreneurs as business Incubators in INDIA.6/12/2017 Incubators and Accelerators: We are the incubators and the accelerators that setups to incubate any business idea. We are leading the startups and entrepreneurs to develop a business idea or make an example or prototype by providing resources, funding and services. For startups and entrepreneurs this is a very good way to start their dream project because it makes survival rate for such incubated companies very high.
As BUSINESS INCUBATORS INDIA ICREATE offers office space, Admin support, legal compliance, management training, entrepreneurship mentoring and access to industry experts (Entrepreneurship Mentors). Also we provide funding through angel investors or VCs. We provide entire logistics and external support so that startup incubators and entrepreneurs can focus on actual work and essentials without worrying about other stuffs. One has to provide an application to programs such as Entrepreneur Courses, Entrepreneurship Mentoring Program and Entrepreneur Grooming Program. We occasionally provide and offer some other programs also. So you have to apply for these courses and programs to enroll into iCreate. After applying for enrollment the application goes to different phases for selection and depending on that you can get selected and funded. It also depends on the quality and feasibility of the idea and conditions of the project. The accelerators are mostly similar as incubators. The different is that they help speed up and improve the business idea in short amount of time. The focus is on intense entrepreneur mentoring and building contacts, getting more investors for business, And also to get help for product development and marketing. Their admission procedure is also tougher and more modest than others. Advantages & Limitations: Advantages Icreate offers high quality advice and training for entrepreneurs and startups and facilitates funding for them. It also makes sure that they have higher survival rate after receiving the funds. Limitations Startups generally do not have much control over the funding since incubators oversee the investors that they meet. ICREATE is Incubators in INDIA. Its incubation process not only provides the startup with motivating environment, quality and expert mentoring, and a livelihood structure, it also help them cultivate their business model and get access to an cost-effective, yet proficient and skilled working space. We see some virtues in startup as we come in contact with them. We lead them with community and many other incubation processes. It is important for us that entrepreneur mentors that we provide for entrepreneur mentoring, takes you seriously and values your time. We also want you to value your mentors’ time and guidance that they provide. As incubators in India, We are bound to provide an ecosystem for startups, where multiple entrepreneurs grow and learn simultaneously. We understand that incubators like us play an important role in nurturing and cultivating any startup. And therefore we work hard to improve and provide what we can to entrepreneur and help them to reach their goal faster. It will also improve the success rate of our firm and increase the productivity of startup. We understand that startups are not predictable or conventional business. As we understand that conventional business look for simple return on investment in short period of time while on the other hand startups are about balance, rules and unit of economics after a long incubation of time. There are very few who understands the rules and regulations behind a successful startup. We also understand that success rate for any incubation business is low. It is also very important for the incubation management to have huge network of expert resources and business support from academic institutions, large corporations and industries. |
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