The application follows the processes above and the stages below:
Stage 1 —:
Stage 2 —:
This is the transformation of business idea or venture to a potential bankable company. This is the most significant part of the model and it might take between 3 months to 6 months. It entails helping the selected business idea or venture become ready for financing from Angel Investors and other financial investors. The Secretariat/Incubation Centre will provide the selected entrepreneurs with the appropriate resources needed for succeeding in business. This include simulation environments, computers and access to established business managers. The Incubation Centre will access experts that can mentor the entrepreneurs who are in the program.
Stage 3 —
This involves financing the businesses that have been developed or fine-tuned using resources at the Incubation Centre to address all the initial teething challenges and be ready for funding. The Incubation Centre will have a percentage ownership in the business, possibly between 5% and 10%, depending on the business and the negotiation with the entrepreneur. Subsequently, angel investors who are investors in the incubation centre have the first right to further invest taking direct equity position during the “Angel Pitch Days’ before other investors will be given opportunity to invest in the business.