SWEKEN IT HUB INCUBATION CENTER & ACCELARATOR FOR STARTUPS
Need of Start-up Hub at Vizag
As per the market research, current start-ups volume is increasing, almost 800+ start-ups looking for facilities, also government is well aware, that required infrastructure and support needed for start-ups. The increasing in demand of the start-ups is creating the need for incubation centre. Currently as per the research done, the numbers of start-ups registered in year 2021 are xxx. On the grounds of fact that Start-up needs a basic grooming, monitoring and mentoring at different levels or stages apart from co-working spaces.
With different core capabilities to run the incubator, Sweken came forward to fill the gap and boost the start-ups, accelerate the growth. Current AP IT policy, Govt came with “Measures for start-up ecosystem development” looking incubators for like us and ready to support for the same. We would like to start the incubation/Accelerator center of 200 seater capacity (50 Start-ups), in or in the vicinity Visakhapatnam.
How SWEKEN Helps Start-ups
SWEKEN has gained enough experience in running its own business as well as like to become an incubator that helps incubates to connect with entrepreneurs, investors, mentors, trainers, students and faculty.
The team that manages the incubator holds industry experienced persons in different verticals, as they are the ones who will drive the incubator, while start-ups will drive their individual businesses. SWEKEN has good connects to identify a set of advisors – preferably a mix of industry veterans, faculty and investors, which always guides the incubation managers on strategic issues.
Most of the incubators provide space, trainings also may provide opportunity for demo prototypes for investors, but SWEKEN provides a closure and extra hand holding Technical Expertise for their ideas and support all the stages of incubation that boosts their progress to become an entrepreneur, along with other standard needs of incubation.
SWEKEN Incubation center help entrepreneurs to solve some of the problems commonly associated with running a start-up. SWEKEN provides a unique strategic way of developing start-ups into entrepreneurs.
This is carried out by providing them a few basic services listed below:
||STAGE LEVEL SERVICES
|STAGE 1 – IDEA
|STAGE 2 – DESIGN
||TRAINING/TECHNICAL EXPERTS SUPPORT
|STAGE 3 – PROTOTYPE
||TECHNICAL EXPERTS SUPPORT/MINIMAL FINANCE
|STAGE 4 – MARKETING/DEMO/TRAIL
||MARKETING/TARGETED CLIENTS MEET
|STAGE 5 – PRODUCTION
||TECHNICAL EXPERT SUPPORT/ ANGEL INVESTOR,BANKS/MARKETING/GOVT SCHEMES/CA/CS SERVICES
|STAGE 6 – ENTREPRENEUR
- Highly Technical Mentoring assistance (Latest Technologies with Hands on Experienced/Skilled Resources)
- Workspace (Physical & Cloud)
- Marketing assistance ( Branding through Physical & Digital Media for global visibility)
- High-speed internet access
- Accounting / Financial management Tools &Services
- Comprehensive business training programs
- Clients/Investors Visits & Grooming
- Banks/ Govt./Private Funding schemes
A major objective of an incubator is to assist a start-up growth. Incubators solve issues of the start-ups.
Start-ups usually looks from an incubator for access to cheap office space, internet, electricity (the tangible benefits of an incubator) or the spirit to work along with fellow entrepreneurs, chance to meet investors, get access to quality manpower and experienced advisors (the intangible benefits of an incubator). Incubators also connect the entrepreneurs, investors, mentors, trainers, students and faculty.
An incubation center provides basic infrastructure/resources during setup and operations. Few of them are listed below:
- Connectivity – internet/telephone/electricity
- Data center
- Services – maintenance, security
- Furnishing – chair, table, cubicles
- IT Infra and Support – software, LAN, leased lines, Wi-Fi, printer, scanner, copier, Access control system
- Others – board rooms, meeting rooms, coffee machines, restaurants etc.
All this comes at a cost, and the incubation center management needs to generate to resources for the same – in terms of capital, manpower and time
Incubation center also provides industry linkages, this maybe contact with local entrepreneurs, lawyers, CAs, industry associations like CII, FICCI, etc. or media (TV, print etc.), and other parts of the eco-system like investors.
Incubators makes programs and draws out a calendar of activities which is very important because it keeps Incubation centers always charged. For example, conducting training programs, mentor meets, talks from experts, job fairs, product showcases, technology demonstrations, etc. from time to time helps the community to grow and brings in a great network effect.
Benefits / Discounts for Incubates:
- Incubate companies involved in Product Development or R&D shall be provided rental discount of 40% in 1st year, 25% in 2nd year & 15% in 3rd year.
- Incubate companies NOT involved in Product Development or R&D shall be provided rental discount of 20% in 1st year, 15% in 2nd year & 10% in 3rd year.
- Incubate companies led by SC/ST entrepreneurs involved in Product Development or R&D shall be provided rental discount of 50% in 1st year, 35% in 2nd year & 25% in 3rd year.
- Incubate companies led by SC/ST entrepreneurs NOT involved in Product Development or R&D shall be provided rental discount of 40% in 1st year, 25% in 2nd year & 15% in 3rd year.
- Following Additional Discount over and above the existing discounts shall be provided: –
- For Women Led Entrepreneurs (In case of Non individual enterprises at least 51% of the shareholding and controlling shake should be held by women entrepreneur) :- Additional Discount of 5%.
- For Divyang-Jan Led Entrepreneurs (In case of Non individual enterprises at least 51% of the shareholding and controlling shake should be held by Divyang-Jan Led Entrepreneur) :- Additional Discount of 5%.