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UP Business Incubator

Incubation Process

 
 

 

OUR PROCESS

 
The incubation programme will run twice a year during Semester 1 and Semester 2 from the initial call to action for application to the graduation of the incubatees. The programme comprises of 2 sections: 1. The Application Phase and 2. Rapid Incubation. Once students have successfully applied to the incubation programme, they will be invited to attend a talk series where the incubatees will be imparted with crucial business knowledge that will cover the basics of how to start a startup to how to grow your business. The incubatees will then present a pitch at a Demo Day with a refined vision of their business with the aim of being taken further into the incubation programme. From the pitches, 6 Incubatees will be taken further into the incubation programme. The 6 Incubatees will be personally mentored and consulted to further refine their businesses and will be given training on how to present to investors. The incubatees will then be helped to find investors to pitch to or help them strike key partnerships to help them grow their businesses.
 
 
 

THE APPLICATION PHASE

 

1. Online Applications
 
Any registered student within the University of Pretoria is eligible to apply to the UPBI. There are two calls for applications each year. Applications are open at the start of each semester.
Students may apply with an idea or an already running business.
The applications are assessed using 4 criteria:
1. Innovation 2. Unique Value Proposition 3. Scalability 4. Solving an Identified Problem.
 

2. Interviews
 
The best applications will then be graded and the short-listed candidates will be invited to an interview to be conducted by the Incubation Managers.
During this interview, the candidates will be probed further on their idea/business and will also be assessed on whether they are committed and will benefit from the incubation programme.
 

3. Induction into Incubator
 
 
A select number of candidates will then be inducted into the incubator as incubatees and begin the rapid incubation process which will last for 3 months in total.
 
 
 

RAPID INCUBATION

 

Talk Series
 
The incubatees will attend a series of talks hosted by selected speakers with entrepreneurial successes or affiliations. The talks are designed to stimulate entrepreneurial thinking and provide networking opportunities which serve to take incubatees closer to the successful start-up and growth of their businesses.
 

How to Pitch
 
To ensure that incubatees know the basics on how to pitch and so that they can present at the Demo Day, the incubatees will be given crucial lessons on how to pitch. The incubatees will be able to present a pitch of their business idea using compelling PowerPoint presentations and being able to take questions with aplomb and confidence.
 

Demo day
 
Incubatees will present a 5-minute pitch of their business to a panel of judges and will then be asked questions about their startup. The judges will provide critique and feedback to the incubatees. After the presentations, each incubatee will be given a score and also be given tips and pointers on how to make their business better. 6-10 of the best incubatees will be taken further into the incubation process.
 

Mentoring
 
Having a mentor that has gone through the entrepreneurial journey is an essential need that is not well known about. Thus, the incubatees will be allocated a mentor from the network that the UPBI has developed as well as students from GIBS who have expressed interest to mentor an incubatee. The mentor will provide advice and open up networking and potential partnerships avenue for their mentee.
 

Consulting
 
To ensure that the idea/business of the incubatee is given personal time to work on any of its downsides or pitfalls, the 6-10 selected incubatees will receive specialised niche consulting on their specific startup. All the feedback received from the Demo Day will be worked on and key partnerships will be sought or investor pitch training will occur. At the end of the consulting phase, the incubatees will have a well-refined business with clear rollout plans, objectives and vision for the future.
 

Meeting Investors
 
Upon assessment of the stage of venture development each business is in, incubatees will pitch to a panel of venture capitalists, private investors or niche incubators for seed funding, further business development or extensive product building. The readiness of the business will be based on the current viability and attractiveness of the business and other investor related criteria.

 

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