SEED IC offers excellent serviced office space at subsidized rates, with flexible leases designed to facilitate the development and growth of startup companies. Features include:
When it comes to financial support in the early incubation stage, SEED may opt to provide initial seed funding, or link seedlings to potential Angel investors.
By stepping into the SEED incubation programme, entrepreneurs get access to an incredible network.
Advice and Peer Support
Seedlings are provided with shared office space to share ideas, experiences, hindrances, and generally network with each other. Meetings will be designed in accordance to the current needs expressed by the seedlings, and experts from different areas will be invited.to.attend.
Seedlings with little or no prior marketing knowledge will attend a SEED Marketing Workshop which will take them through the basic principles in a way that equips them to develop their own robust marketing plans.
Seedlings will be provided free legal advice during their early incubation period. They will have the option of asking for it at any point of development.
A SEED employed accountant will assist in keeping the books during the early stage of incubation, if required.
The whole theme behind the IC is to create a work environment that is conducive for young entrepreneurs to operate in, as they are particularly vulnerable in their early years and the startup environment can be significantly more hostile in a developing economy where services remain inadequate, inaccessible or expensive.
Period of Incubation
Business incubation involves a number of key and potentially overlapping and flexible stages, designed to underpin the growth of startups at various stages of their development.
A properly executed screening process ensures that resources are channeled only to those potential seedlings that truly need it. Only those startups that are ‘weak-but-promising’(weak due to lack of resources, but promising in the sense that they have built a compelling business case) will be considered.
Established or existing business expansion may be considered. However, mere relocations (closing of one location just to relocate to the IC) will not be entertained. Should an existing business applicant be unable to expand in its present location or lose its lease through no fault of its own, the selection committee may consider its application, giving due credit to expansion of product lines/services or increases in jobs in the local area. In this case, applications will normally only be considered on a space availability basis.