Incubation Benefits

Pre-incubation services

One of the goals of Propella is to foster a culture of entrepreneurship and the pre-incubation program is a way to channel the interest in entrepreneurship into a process for developing a new business.

Propella's doors are open to inventors or entrepreneurs who are in the concept stage, but not ready for incubation. They may have a business idea but no plan. These individuals may be faculty or students, or people from the business community and while these individuals may be too early to fully participate in the Propella incubation program, yet they could benefit from other developmental assistance.

In order to gain access to the pre-incubation program, aspirantincubatees need to have completed their draft business plan and successfully presented their business case to the selection panel.

 

The entrepreneur also needs to justify the market potential for their proposed business idea and produce samples of the product or service to be offered.

Once the business plan has been accepted by the Propella panel, the entrepreneur has full access to training seminars, which are specifically designed for emerging entrepreneurs.

Propella has set-aside an area of cubicles that participants in the Pre-Incubation Program can rent on a semi-permanent basis.

This pre-incubation program offers five key services to start-up companies:

•    Desktop Feasibility Study of the proposed business idea
•    Entrepreneurial Assessment and feedback session
•    Counselling and pre-incubation business advice
•    Specific business start-up training to support the newly founded enterprise
•    Registration of the new business and compliance with statutory obligations
•    Market assessment, feasibility planning and business planning
•    Coaching to guide them through proof of concept and business plan

To successfully exit the Pre-Incubation Phase, the enterprise needs to have completed the draft business plan, completed the entrepreneurial assessment and identified the weaknesses they need to work on and attended all of the prescribed business skills training programmes.

The pre-incubation phase is done over a period of three months.