You've got an idea, a concept, and you're starting your own business? If executing your idea is the key to implementing your project, you're probably wondering which environment is best suited to providing you with the framework you need to succeed. Once you've got past the idea of starting up in your own garage, there are plenty of alternatives. Here, we'll take a look at incubators.
If you're wondering how to get into such a structure, here are some answers.
Entrepreneurs: how to join an incubator?
Incubators have become a generic term used to designate a structure for hosting companies or start-ups. An incubator is the ideal support structure , particularly at the start of your project, providing accommodation, advice and financing.
Different types of incubator
There are different types of incubator, depending on the services they offer, whether they are for-profit or not, and the type of project they target.
Different incubators can be identified, depending on the structure to which they are linked. These include incubators linked to public research companies, incubators linked to schools and incubators linked to businesses.
A distinction is made between non-profit and for-profit incubators. Although the business model is not the same, these structures must support you at every stage of your development.
It's no secret that when it comes to launching a project or startup, the most important thing is not the idea, but the execution. That's why it's so important to be well supported and to evolve within a structure that will enable you to develop as serenely as possible.
Joining an incubator means benefiting from the support of a structure dedicated to entrepreneurship. You'll benefit from expert advice to help you capitalize on your strengths, and develop in a privileged environment.
Financial support for your development
Joining an incubator can also be a real breath of fresh air, in the sense that if you don't have the necessary funds at the start of your project to develop, the incubator can help you financially, enabling you to develop with this financial constraint removed.
Developing your project in an incubator means you'll be hosted by a structure that will help and support you, and that can also provide you with financial backing. However, even if your idea seems promising, incubators are selective entities, so you'll need to prove the viability of your project!
Joining an incubator gives you the opportunity to evolve in an environment conducive to the development of your project under optimal conditions. However, in order to integrate such a structure, you'll need to prepare a dossier in order to present your startup's project to the incubator.
While there are many incubators, there are just as many project leaders, and places are limited. So you'll need to be convincing.
Be punchy and make an impact
To join such a structure, you'll need to put together a dossier and present it. Your application and presentation should clearly demonstrate your motivation and ambition.
Your application must contain a business plan, including a market study, your product or service and your strategy.
This document should serve both to highlight the viability of your project and its strong economic potential, in order to convince the incubator's recruiters, and to attract potential investors for eventual fund-raising.
So, if you want to get into an incubator, you'll need to prepare your project carefully, so that you're able to present a business plan that demonstrates your startup's economic potential.
While some incubators also allow you to domicile your company within their structure, you should be aware that you also have the option of domiciling your headquarters elsewhere than within the incubator.
Difference between place of practice and domiciliation
As with any business, your place of business may not be the same as your registered office. You can choose to be domiciled at your home address, or at a company specialized in business domiciliation. Note that the choice of your registered address is a strategic one, since it is the address of your head office and will be visible to all your customers and partners.
Commercial companies enable you to domicile your business at a strategic address for your project. You'll be able to take advantage of a prestigious address in a high-profile or business district. This will give you considerable visibility and enable you to capitalize on your company's growth. In addition to a prestigious address, you'll be able to have your business mail forwarded or even scanned. This frees you from administrative constraints, leaving you more time to devote to your project.
As you can see, joining an incubator offers many advantages, particularly during the initial development phase of your project. You'll have the opportunity to develop your structure in a setting dedicated to entrepreneurship.
If the idea of being incubated appeals to you, you'll need to be able to demonstrate your motivation and ambition, as well as the strong economic potential of your project through your business plan.
Strategic address
Finally, even if these support structures allow you to domicile your business with them, it's worth noting that, depending on your activity, a strategic address represents a real growth lever for your company. Indeed, having an address in a prestigious business district will enable you to gain visibility and increase your company's growth. With this in mind, consider commercial domiciliation companies to establish your head office.
In addition to a high-profile address, you can also benefit from mail forwarding and even mail scanning. You'll be freed from this administrative burden, allowing you to concentrate on what's most important: developing your project.
Written by our expert Antoine Dubois
September 22, 2017
