Idea to Scale Programme
A good idea alone is not enough to found a successful start-up. To ensure that an idea can also endure in reality, start-ups undergo a six to twelve-month incubation program, the “Idea to Scale Programme”. At the end, they present their ideas to so-called angel networks, wealthy individuals who invest in the early stages of start-ups. The aim is to obtain upfront investment for their companies. The program is adaptable and can transform even a training center into a business incubator.
Addressing Core Challenges:
- Insufficient development of local start-up ecosystems.
- A shortage of effective startup incubators as a vital part of the start-up support system.
- A lack of links to mentorship networks and angel networks to foster the creation and financing of innovative business ideas.
- Limited knowledge and expertise in supporting start-ups.
Target Groups:
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Aspiring/ early-stage entrepreneurs (students in their last years, professors, professionals)
Implementation Approach:
The ideal implementation entities for this programme are:
- Entrepreneurship Training Centers
- Innovation Centers
- Civic Initiatives with a focus on fostering profitable business ideas
Important to consider:
The potential and need in the country and local community must be assessed.
The buy-in of the hosting entity for the program must be obtained.
A long-term strategy should focus on improving and scaling the initiative. This includes identifying self-sustainability and funding mechanisms such as Angel Networks, Investor Networks, Innovation Funds, Grants, Vouchers, Venture Capital, and networking with foreign accelerators. These elements will ensure the continued success and growth of the programme.