You can be on Entrepreneur’s cover!

5 ways to succeed as an Incubatee A business incubator helps start-up incubatees jump start their performance. However it is important for them to do their home work well before moving in.

By Entrepreneur India

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

A business incubator helps startup incubatees jump start their performance. However it is important for them to do their home work well before moving in. Unless a start-up doesn't have a strong team, it is unlikely that its business model will get more refined and feasible towards the end of the incubation programme.

During the course of the programme, a start-up may get more people in its team but the onus lies on the founding team to translate the business idea into a workable model.

1) Pitch Perfect

One key aspect to join a business incubator is how well can you pitch your business idea and how does it differ from similar existing companies. The incubator wants start-ups that are ready to face the competition. Joining an incubator also establishes the start-up's business model in order to raise the first round of funding.

2) Talk to Former Incubatees

It is always better to consult few alumni entrepreneurs of the incubator for their experience during the incubation programme and what benefits and challenges they came across while at the incubator. It can be vital for new companies joining the incubator to balance the pros and cons while making the best out of it.

3) Do Your Homework

Incubators often differ in terms of services and support that they provide for entrepreneurs. A crucial area to delve on before joining a business incubator is to check that the experts present at the incubator have significant experience that can add value to your business. Moreover, startups are often required to relocate to incubator's place during the duration of the incubation programme. Hence, it is important for them to decide whether to operate from the same city or join the incubator.

4) Put Together a Strong Team

One of the basic criteria for start-ups to join incubator is to have a strong team of founders. Unless a start-up doesn't have a strong team, it is unlikely that its business model will get more refined and feasible towards the end of the incubation programme. During the course of the programme, a start-up may get more people in its team but the onus lies on the founding team to translate the business idea into a workable model.

5) Find Your Right Value

Similar to other traditional investors, incubators also seek a part of your company in terms of equity stake, typically around 7-10 per cent in exchange for the money, mentorship and handholding they provide. Entrepreneurs must look at the value to be derived from the incubator cover up the equity share given to the incubator.

Business News

Elon Musk Reveals When Tesla Will Release Its First Robotaxi

Tesla's CEO says the fully autonomous Tesla taxi is arriving soon — in 122 days.

Business Ideas

Want to Test Your Business Idea Without Spending Much Money? Use the "Mousetrap" Model

Instead of building products and then learning who wants them, you can test demand before really investing your time and energy.

Business News

A Non-Profit Newspaper Published a Column Criticizing Facebook. Then Meta Blocked All of Its Posts.

Facebook's communications chief said that the posts were removed because of "a mistaken security issue."

Living

Use This Simple Strategy to Push Through Limitations in Your Life

On this episode of "The Jeff Fenster Show," guests Chris and Lori Harder share tactics that can help anyone overcome personal and career obstacles.

Business News

Walmart Shoppers May Be Eligible for $500 After Settlement

Walmart shoppers who purchased weighted goods or bagged citrus in the U.S. or Puerto Rico from late 2018 through early 2024 might be eligible for a share of a $45 million settlement.

Real Estate

How PR Can Build Trust and Credibility for Real Estate Brands

Follow these insights and actionable tips for leveraging PR to enhance the reputation and visibility of your real estate brands.