Incubator Program Application Form
The Mission of the SWFEC Incubator Program is to be a learning laboratory for entrepreneurial enterprises and to provide assistance and support to entrepreneurs through structured programs so that they may realize the full potential of their enterprise and of themselves as business owners, managers, and contributing community members.
The Program starts with a 3-step application process: basic data collection, interview of potential participants, (based on application and interview, the Admission Board decides about accepting or denying applicants) and if accepted then selection and assignment to a specific cohort. Once entrepreneurs/enterprises are selected, they go through an onboarding process starting with an introductory meeting and event where all participants get to know details of the program as well as their cohort co-participants and their business profiles. Then those businesses that require physical offices/locations move into the SWFEC facilities. Virtual participants (and resident participants) receive access to cloud resources (learning management system). Virtual participants will have access to the facilities which they can use for meetings or company events as well as business hub services provided by SWFEC. Participants may stay for 6-month, 12-month or 24-month, however, all participants need to present their progress every 6 months (pitch event) showing their progress and achievement of KPIs. If progress is lacking and the business is significantly behind its KPIs, after 1 year the business may not be able to stay in the program. If the program participant entrepreneur qualifies to stay for the second year of the program, then the entrepreneur gets to chance to incubate her/his enterprise for one more year.
All participants have to have a laptop/tablet in class. All materials, exercises, and questionnaires will digitally be accessible, and only be available through a browser (cloud-based). Moreover, classes are expected to be hybrid and online participants can only use cloud-based systems. As such, in order for the entire class to see each others’ responses, even those present in the class have to see all online content.
To qualify for the incubator program, you should have:
- developed product or service
- some customers that pay money for your products and/or services
- some level of realistic business and marketing plan reflecting the potential to grow the business
- the willingness to participate in every program related class and event
- the willingness to complete all homework, meaning the willingness to work on your business
- the willingness to provide quarterly reports about the progress of your business including financials
- the willingness to present/pitch what your business achieved every 6 months (end of blocks)