5 Ways an Incubator Can Benefit Your Startup

 

Suppose you have an astounding million-dollar startup idea that can flip the script if established properly. And you are ready to push beyond your limit for it. Can you think of unfolding your own million-dollar company, when you do not have enough of bank balance, experience or a suitable space to run your business?

Here comes an incubator to help you grow your business! Let’s see how an incubator can boost your startup.

 

Seed Funding:

There are so many angel investors who are inclined and able to invest in your business. All you have to do is, present your startup pitch and convince them to invest. They are looking to provide seed funding to startups that they believe can get somewhere. There are so many areas incubators invest such as medical technology, sciences or biotech.

 

Networking Opportunities:

“Networking has been cited as the number one unwritten rule of success in business.” – (Sallie Krawcheck)

 

Networking is unquestionably important for startups. Only good product or service is not adequate to grow your business even if you know about the demands of your target market. Networking allows you to set up strong professional relationships and connections in the industries, that will help you overcome difficulties in your startups, both during an early venture and growth stage. Besides, networking helps you gain referrals, mentors or new business opportunities. An Incubator makes it easy for you to enhance networking!

 

Office Space and Sophisticated Implements: 

An incubator provides you with office space and necessary equipment at a minimum cost, while the incubator program is being held. You’ll get every professional resource and administrative support including internet, software, educational as well as business tools. This easement boosts your startup activity.

 

Mentorship:

 “Don’t be a lone wolf. Lean on the experience and smarts of your teammates, investors, and mentors to help solve the tough problems and take advantage of the opportunities.”- (Seth Bannon, founder, and CEO of Amicus)

Experience matters! An incubator allows you to learn from so many experienced and successful entrepreneurs. This will help you avoid some common oversights in business. Besides, there are some programs designed to help you with iteration cycle, fundraising preparation and so on.

 

Maintaining Focus to Reach Your Goal:

Last but not least, an incubator keeps you motivated towards your goal. Entrepreneurs have to face so many drawbacks and insecurities at the early stage of business. This is a typical tendency among entrepreneurs to give up. A survey says that 90% of startups fail due to lack of proper guidance and distraction of focus. An incubator works as an overseer and keeps you focused on your goal which is important for the acceleration of your startup.

 

So, chin up! Bag your confidence and find yourself an incubator if you have a groundbreaking startup idea in your head!

 

To add up all of that, Startup Dhaka’s 2 Month-long incubation program is designed for helping early-stage startups to move ideas into a Minimal Viable Product (MVP) stage. The program curriculum will cover subjects that entrepreneurs need, in order to systematically approach Customer Discovery, Design Thinking, Product Development, Pitch Deck design, Market Sizing, Bootstrapping, Fundraising – everything an early-stage startup needs to cover but teams find it hard to get support in our market. With the best line-up of mentors who will support your ideas and turn them into reality, Startup Dhaka will make sure your imaginations turn into products for the right set of customers. 

To know further about Startup Dhaka Incubator Program, visit: https://startupdhaka.org/incubator 

 

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