What is a business incubator?
A business incubator offers support to early stage entrepreneurs during the critical stages of starting up a new business. They provide office space, business skills training, access to financing and professional networks. The incubation journey can last for 1-3 years with the goal to increase the chances that a startup will be successful and sustainable. Incubators shorten the time and reduce the cost of establishing and growing a business.
How many companies are selected?
10 companies maximum will be selected for the cohort-based I-Cube Program. High potential companies who are not selected for the program may be put on a waitlist to be offered enrolment into the program if space becomes available. For entrepreneurs still in the ideation phase we work closely with Antarprerana who support these early stage with pre-incubation services.
How much does the I-Cube Program cost and what does it include?
The I-Cube Program includes the following services and facilities for a total cost of 2 lakhs*, with flexible payment plan options:
- Monthly masterclasses with local and international business experts
- 1-on-1 strategic business coaching and mentorship to meet company milestones
- Makerspace to design & prototype with 3D printers, drones, plasma cutter, welding and carpentry tools
- Nepal Communitere’s network of industry experts & technical consultants
- 2-day immersive bootcamp at the halfway point of the program
- Dynamic furnished coworking space for up to 4 team members
- Hi-speed internet and backup electricity
*Program fees vary depending on location. The Chitwan I-Cube Program is at a reduced rate.
How long is the I-Cube Program?
The program is designed for companies to graduate in 10 months. However we understand that every business is different and we can continue to provide check-in support to companies for up to 16 months, if necessary. The Chitwan I-Cube Program is currently being piloted as a 6 month program with the possibility of continued support as needed.
What are the selection criteria for the Program?
You must be a Nepal-based business that has
- Been working on your idea for approximately one year
- A working product or service
- At least 2 or more team members
- One core team member with at least one year of professional work experience
We strongly encourage teams with gender balance to apply.
What level of participation is required?
A minimum of one day per week of participation, including one full day monthly masterclass attendance is required. If your company is not going to be based at Nepal Communitere’s innovation hub, our team can provide coaching and mentoring at your place of business.
Does the I-Cube Program provide seed funding to startups?
Nepal Communitere and the I-Cube Program does not directly invest in startups. We do provide direct linkages to seed funds for all graduating companies through our collaboration with SAFAL Partners.
How can I learn more about the Program?
In person: Meet our team during Friday Happy Hours networking sessions at Nepal Communitere, each week from 5pm to 8pm, or visit the I-Cube office at Nepal Communitere Monday-Friday from 9am – 5pm.
Online: Like & follow our Facebook page @NepalCommunitere for the most up-to-date information.