Incubation Program is the flagship annual program of Yunus Social Business Centre-King’s College Kathmandu. The Incubation program helps the aspiring entrepreneurs to transform the ideas into concrete business projects and aspires to guide the start-ups or existing organizations towards more challenging and profitable goals.
Yunus Social Business Centre-King’s College has a clearly defined incubation process that has been designed to help entrepreneurs realize their ideas and dreams. The objective of the incubation process is to produce great companies with the potential to create jobs, and empower local communities and economies to be more economically sustainable.
HOW TO ENTER THE INCUBATOR PROGRAM?
The incubation of an idea at Yunus Social Business Centre-King’s College beings with entrepreneurs submitting an application form and their business plan for review. If an idea is found to be viable and interesting, the entrepreneur is provided with the opportunity to present it to a review committee that will decide if the proposal will be accepted.
Upon acceptance, the entrepreneur is sent an intiation letter outlining the documents that have to be submitted prior to the formal commencement of the incubation. The organization needs to submit all the legal documents pertaining to the registration of the organization. Once the documents are reviewed and verified, an agreement is signed to ensure the availablity the center’s services and mentorship facilities.
INCUBATION FACILITIES & FUNDING
The following infrastructural facilities are available for an incubates
1. An office space (please note that the incubation center cannot be the registered as the official location of your company)
2. A dedicated cubicle with Desktop computers and telephone access
3. Hi Speed Internet Connection
4. Uninterrupted Power Supply.
Seed Capital, Funding & Human Resource Support.
1. Seed money upto Rs 1.5 Lakh
2. Access to Banks and equity investors for the capital
8. Training and Development
9. Support from Center for Writing and Communication
10. Support from Pathway Center.
In addition to the aforementioned facilities, there are other advantages to working in an academic environment. For example, academic mentors can closely engage with start-ups and share their vast knowledge. This allows start-up teams to focus on the product/service they are working on and get them out to the market quickly. Acess to business networks can help refine business models of the companies being incubated.