Business incubators provide support to start-ups and established businesses. From one-man-shows to SMMEs.
Start-ups and micro businesses typically require assistance with setting up management systems, require a clearer understanding of what their business is actually about and assistance with access to funding and more. To establish what the needs of the business are and to determine if the business idea is viable first-time incubatees are pre-incubated. At Propella incubatees are typically paired with hand-picked business mentors who meet regularly and provide advice and industry specific expertise. Propella Incubator has a step-by-step process that prepares start-ups for incubation.
All businesses face growth or innovation hurdles at some point. SMMEs can benefit from assitance with access to markets and large scale funding opportunities. Support for technological innovation can be facilitated by Propella.
Some incubatees need to be provided with a physical space such as an office or workshop. Other incubatees already have physical infrastructure and these kinds of businesses require only virtual incubation. Virtual incubation simply implies that the business does not infrastructural support. Here is more information about virtual incubation at Propella.
The point of incubation is to provide a platform that supports the objectives of a business. Whether it is growing the business, solving a technological or market related problem the idea is to walk the business through these processes.
Propella does not provide direct financial support except in a limited form to businesses in the pre-incubation phase of the process. However, Propella has an extensive network of funding within government and industry. The incubator will provide support for business plans and funding application processes.