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Services provided by the Incubator Vukovar

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Services provided by the Entrepreneurial Incubator Vukovar

The Entrepreneurial Incubator is oriented primarily towards innovational start-up companies and innovational university spin-out / spin-off companies that successfully pass "proof of concept" screening.

The Entrepreneurial Incubator will provide services to its users depending on their stage of development, and the programmes will include pre-incubation and incubation programmes intended for creating tech companies based on knowledge and innovativity.

Special support will be given to new companies in ICT, renewable energy, bio-technology and metal processing, but programmes of the Entrepreneurial Incubator BIC-Vukovar will be available to innovational companies of all sectors.

 

Pre-incubation programme
Pre-incubation is the process of development from an innovational project idea to a comprehensive  business plan. The programme begins with an initial meeting of the entrepreneur with the staff of the Entrepreneurial Incubator, which performs an analysis and feasibility estimate of the project idea.

Entrepreneurs in the pre-incubation programme will be provided with a work station without charge, as well as the use of common office equipment and infrastructure (internet access, printer, copier etc.).

Entrepreneurs in the pre-incubtion programme will be assigned a mentor, who will create an adequate pre-incubation programme for the entrepreneurs (according to their needs) for the purpose of successful development of the business idea with potential for release into the market.

Entrepreneurs in the pre-incubation programme will have the services of other centres at their disposal, primarily services of the Education Centre (general qualification, project management, protection of intellectual property and similar training), in addition to other services the mentor deems necessary to the entrepreneur in the pre-incubation phase.

At the end of the pre-incubation programme, the Incubation Consultation Committee (constituted by representatives of the PPI) will perform an evaluation of innovativity and commercial potential of the project idea. If the project idea has a satisfactory potential, the student will be allowed to transfer into the Incubation programme.

The duration of the pre-incubation programme is limited to 6 months, and the Consultation Committee can consider extending this duration if requested by the student.

Incubation programme
The incubation process pertains to the creation of start-ups, their development and entry into the mature stage of business processes (post-incubation), where the company leaves the Entrepreneurial Incubator.

The incubation programme begins with an initial evaluation of the start-up, which must fulfill certain criteria in order to qualify for inclusion into the incubation programme. The most important criteria are a positive evaluation of the business plan by the Consultation Committee (comprising PPI representatives), company registration and the availability of initial funds.

After entering into the incubation programme, the company is assigned a mentor who creates an incubation programem suited to the needs of the incubator occupant.

Services which will be offered to companies in the incubation programme are oriented towards business development and the development of innovative products. In accordance with that, the staff of the Entrepreneurial Incubator Vukovar will, with the support of a network of external associates (consultants), provide various business consulting services (creation of the business plan, market research, creation of the marketing plan, defining the structure of the organization, assistance in looking for sources of funding, quality management policy, consultations with intellectual property management, networking etc.) and provide access to external service providers (accounding, tax consultations, legal and financial expertise etc.).

Companies in the incubation programme will have access to excellent infrastructure, including fully outfitted shared rooms (conference hall, meeting offices, kitchenette).

The stipulated duration of the incubation programme is a minimum of 1 year, up to a maximum of 3 years. At the end of each year, the company is obligated to submit a report to the Consultation Committee on the results of the previous year, in addition to the business plan for the next business year. At the conclusion of the incubation programme and entry of the company into the mature stage of business processes, an exit strategy for the company will be formulated the company will be allowed to re-locate to the Centre for Innovational Business.

Education services
An integral part of the Entrepreneurial Incubator is the multi-functional conference hall, outfitted with the equipment necessary for conducting training, seminars and workshops. Education services are available to all occupants of the Entrepreneurial Incubator and all other interested users. Part of the education services are rendered by qualified staff of the Entrepreneurial Incubator, while another is performed by external associates (PPI representatives, consultants etc.).


Training programmes for users and potential occupants of the Entrepreneurial Incubator

No.

Name of the training

Goals of the training

1

From a business idea to founding your own start-up

-         Participants will learn what the phases of the entrepreneurial process are and how one becomes an entrepreneur;

-         Participants will learn what the basic characteristics of entrepreneurship are and how a business idea can lead to the founding of your own start-up

2

Development of the business idea in a concrete example

-         Explain the process of defining a business model for potential entrepreneurs and testing the business idea

-         Participants will follow the development process for the business idea on a concrete example

3

Basics of entrepreneurship

-         Clarify the characteristics of entrepreneurships and what elements are required for success as an entrepreneur

-         Clarify the sources of business ideas and methods of analysis for business opportunities

-         Explain the steps necessary to take prior to starting the company

-         Acquaint participants with the start-up investment model and business start based on the entrepreneurial idea

4

Legal framework and legal forms of business

-         Participants will learn who an entrepreneur is, what entrepreneurship is, what small businesses are, what types of businesses exist and what the classification criteria are

-         Help entrepreneurs decide what to found - a limited liability company or a small business? Which legal form should you choose? How to define the name of your business?

-         How to found a limited liability company, a small business, what are the fees, annual fixed costs, salaries and other obligations

5

Business planning

-         Emphasise the importance of creating a business plan

-         Explain the process of business planning

-         Explain the content and structure of a business plan

6







Business plan feasibility analysis - the evaluation method for a business venture

-         The role of economic/financial analysis of the business venture

-         Evaluation methods for business ventures (discounting, return of investment period, NPV, IRR, RNPV)

-         The motivation behind business venture feasibility analysis

-         The importance of interpreting the results of business venture evaluation

7

Sources of funding for start-ups

-         Potential sources of funding for the start-up entrepreneur

-         Clarify formal and informal venture capital

-         Prepare participants for the presentation of the business plans to venture capital funds and business angels

-         The process of venture capital fund investment

8

Basics of marketing for small businesses

-         Participants will learn about the importance of marketing for small businesses and the elements of strategic and tactical marketing;

-         Participants will learn about guerilla marketing and its benefits for small and medium businesses;

-         Participants will be introduced to the concept of customer relations management (CRM) and how to utilise it in their business.

9

Formation and significance of financial reports

-         Learn basic terms, income, expenses, capital inflow, capital outflow

-         Participants will be acquainted with financial reports - balance, income/expense calculation, flow of capital

-         Participants will be acquainted with financial indicators - indices of liquidity, debt, activity and profitability

-         Participants will learn when VAT is paid and when one becomes obligated to pay VAT

10

Basics of intellectual property for small businesses

-         Participants will learn what intellectual property is, as well as the structure and value of intellectual property

-         The problems of entrepreneurship in the Republic of Croatia and intellectual property

-         Management of intellectual property and its value

-         The role of the State Institute for Intellectualr Property in Croatia

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