I-Cube Program 2020- Frequently Asked Questions
The I-Cube Business Incubation Program is a safe space for your business to fail fast and move forward. Entrepreneurs who will create the next, big transformative idea for Nepal and beyond can only do so with a support system to take risks for innovation. The I-Cube Program helps the growth of such forward thinking businesses by helping them become adaptable in the face of uncertainties and ready to tap new opportunities.
The 6 month I-Cube program is based at Nepal Communitere in Pulchowk and gives entrepreneurs/ startups exclusive access to monthly masterclasses, 1-1 strategic business coaching, a network of industry experts and technical consultants.
What is a business incubator?
A business incubator offers support enterprises and entrepreneurs during the critical stages of scaling up the business. They provide office space, business skills training, access to financing, and professional networks.
How do I apply to the 3rd Cohort, I-Cube, Business Incubation Program and when is the deadline?
The 3rd Cohort I-Cube Business Incubation Program application will be launched on 10th September 2020. Online applications will be launched via Nepal Communitere website and Facebook page. The application deadline is Sunday, 27th September 2020 at 11:59pm.
Eligibility & selection criteria
You are eligible to apply if you fulfill following criterion:
1) Kathmandu based businesses who are beyond the ideation phase with at least 1-2 years traction in the market.
2) Entrepreneurs who demonstrate a readiness to iterate, pivot and adopt innovative approaches to survive and grow their businesses.
3) Need basic and practical business development skills.
4) Proactive, passionate and visionary founders.
5) Hungry to learn, grow and network.
How many companies will be selected?
4 Startups will be selected for 3rd Cohort, I-Cube, Business Incubation Program. High potential companies who are not selected for the program may be put on a waitlist to be offered enrollment into the program if space becomes available.
How much does the 3rd Cohort, I-Cube, Business Incubation Program cost and what does it include?
The cost of the 6 month long incubation is NPR 6000.00 per month
The 3rd Cohort, I-Cube Business Incubation Program includes the following services:
- Monthly in person or virtual masterclasses
- Bi-weekly strategic business coaching to meet company milestones
- Makerspace to design and prototype with 3D printers, plasma cutter, welding, and carpentry tools (based on requirement)
- Nepal Communitere’s network of industry experts & technical consultants
- Dynamic furnished coworking space, with hi-speed internet and backup electricity (depending on the COVID-19 situation)
How long is the 3rd Cohort, I-Cube, Business Incubation Program?
The program is designed for the 4 startups to graduate in 6 months (October 2020 – April 2021).
What level of participation is required?
A minimum of one day, biweekly for business coaching and one half/full day monthly masterclass attendance, is required.
Does the 3rd Cohort, I-Cube, Business Incubation Program provide seed funding to startups?
Yes, the selected Startups will receive Innovation Seed Funds of up to NPR 1 lakhs to prototype, test, iterate and adopt new vertices and approaches in the business. Seed funds will be disbursed according to progress made on defined incubation milestones.
How will the business coaching and Masterclass sessions be conducted?
The bi weekly business coaching and monthly master class will be conducted via online platforms such as zoom/ messenger.
How can I learn more about the Program?
Virtual Open House: Twice a week, you need to sign up and pre-register yourself for the virtual open house sessions. For more information like & follow our Facebook page @NepalCommunitere for the most up-to-date information.
Email: 3rd Cohort, I-Cube Business Incubation Program Team at [email protected]
The tentative 3rd Cohort, I-Cube, Business Incubation Program Curriculum
- Month 1 – Establish Incubation Milestones
- Month 2 – Human Centric Design
- Month 3 – Synthesis and Analysis of HCD
- Month 4 – Lean Business Canvas
- Month 5 – Sales Strategies and Access to Finance
- Month 6 – Branding and Storytelling and finalizing Business Plan
If you’re a committed startup entrepreneur in Kathmandu trying to develop new business vertices and ready to pivot, iterate and adopt innovation to your enterprise and looking for an opportunity to grow your business, don’t miss out on this amazing opportunity! Apply for the 3rd Cohort of I-Cube Incubation program of 6 months.
Here’s the I-Cube 2020 Application Link.
Want to interact directly with Program Leads? Register here for the upcoming virtual open house sessions for Q/A.