Value proposition & Considerations
Young companies are particularly vulnerable during the startup phase of operations. This vulnerability is especially pronounced in emerging markets where critical services are scarce or prohibitively expensive. m:lab’s onsite and virtual business incubation offering is for start-up firms with a mobile technology focus, specifically mobile applications.
For six to twelve months, selected startups in the virtual incubation program become part of a learning and networking community at the m:lab. Our business advisors support the startups as we use our networks to facilitate access to markets and access to capital for growth of the entreprises. Onsite startups access office space, internet connectivity and shared business facilities.
m:lab’s on-site and virtual business incubation program is designed to accelerate successful development of mobile application entrepreneurs through an array of business support resources and services which include:-
- Linkages with financiers for seed capital and venture capital
- Assistance with monetizing mobile applications
- Facilitated access to markets, deals and contracts
- Assistance with intellectual property and patent management
- Business management advisory services
- Business mentoring, coaching and assistance
- Networking and community building events
- Application testing and quality assurance
- Internet and data connectivity facilities for on-site residents
- Subsidized office space for on-site business incubation tentants
Successful outcomes of m:lab’s onsite and virtual incubation program in the long term will be measured by :-
- The number of firms that graduate from m:lab incubation into strong competitive and sustainable enterprises
- Startups raising new investments through the program interventions
- The number of jobs created in East Africa by m:lab’s current and past incubation clients
Various considerations are put in place to select the startups in the on-site and virtual business incubation program. The considerations will apply both at the initial occupation of incubation spaces and whenever spaces fall vacant.
Below are the main considerations:-