Frequently Asked Questions (FAQs):
What is a Business Incubator?
A business incubator provides business coaching and mentoring to support companies to a point where they are able to grow and become self-sustainable. Incubators provide office space, business skills training and access to financing and professional networks. These programs can last for 1-3 years and provide all the necessary tools and advice for the business to stand on its own feet.
How do I apply to the I3 Program and when is the deadline?
The I3 program is partnering with Rockstart Impact and together we will be identifying and selecting companies to participate in either of the two programs. You must complete the online application by October 5th, 2017 which can be accessed from the link below:
How many companies will be selected?
12 companies will be selected in the first year and the program will begin in November of 2017. However, we will be accepting and reviewing applications throughout the year on an ongoing basis.
What services and facilities are included in the I3 Program?
The I3 Program includes the following services and facilities:
- Dynamic furnished co-working space for up to 3 team members
- Hi-speed internet and backup electricity
- Access to Makerspace workshop including 3D printers, drones and plasma cutter
- Regular networking events
- Workshops with local and international experts on topics such as: branding and marketing, developing a business canvas, product/service design & development, accounting and bookkeeping, legal requirements
- One-on-one business coaching and mentoring to help meet pre-defined milestones
- Annual retreats
Do I have to pay to participate in the I3 Program?
During the initial pilot year, companies will be charged 15,000 rupees + VAT per month to participate in the program which includes all services and facilities outlined as part of the I3 Program. Prices will increase after the initial pilot year.
How long is the I3 Program?
The program is designed for companies to graduate in one year, however we understand that every business is different and will therefore continue to provide support to companies for up to 18 months if necessary.
What are the selection criteria for the I3 Program?
In order to participate in the I3 program you must be a Nepal-based business that has been registered and operating for at least one year. We are looking for innovative entrepreneurs that are addressing needs within the agricultural, health, technology or energy sectors. We strongly encourage female entrepreneurs and businesses located outside of the Kathmandu Valley to apply.
What level of participation is required?
In order for companies to meet regular milestones and work towards successfully building their business a minimum of 1 day a week of participation is required. If your company is based outside of the Kathmandu Valley our team will be providing coaching and mentoring remotely and through monthly visits.
Does the I3 Program provide seed funding to startups?
No the I3 Program currently does not provide any direct seed funding to companies. However, we can connect companies to other seed funders.
How can I learn more about the I3 Program?
Check out our Calendar of Events and attend one of our weekly Open House events held every Tuesday from 3-5pm at Rockstart Impact offices or one of our Friday Happy Hours at Nepal Communitere from 4-7pm. Both Rockstart Impact and Nepal Communitere are located in Pulchowk, Lalitpur near the Suzuki showroom. You can also speak to someone from the I3 team by calling our office at 01-553-0229 Monday-Friday between the hours of 9am-5pm.