Incubator Program Q&A

Question: Can you combine this program with studies / other work?
Answer:Yes, in the first 6 months  you can combine it with other commitments, although as member of the program we want you to be focusing on the goal of growing your business. After 6 months we have the requirement that there is at least one person putting in fulltime hours into the growth program.  If you are two or more people, you can work part-time and still meet that criteria, gradually switch up the hours as the company grows.

Question: Do I have to rent an office from Företagsfabriken?
Answer: No, if the company already has an office, you can of course continue to use that one. There is also no requirement that entrepreneurs work from the företagsfabriken space, you don’t need to commute daily to our premises in Växjö to get help to develop your company. We do have in person workshop sessions and exchanges between entrepreneurs usually take place in the spaces in Växjö. Additionally we have a requirement that the main workplace is not at home.

Question: How do I know if it’s a good idea?
Answer: The simple answer is that you do not know until you have tried. The first step is to ask those who are going to buy the product/service. Asking your family and friends is risky – they may not give an honest answer because it could hurt your feelings.

Question: I have an idea but I know nothing about entrepreneurship, business administration and so on. How do I proceed?
Answer: If the idea is good, such a thing should not stop you. You do not know everything and most things you can learn. There is support from us and other organizations that will support you in company building. Furthermore, you should not forget that you will not be able, or have time, to learn everything – sometimes the easiest thing is to include a person who complements your competences.

Question: What happens if I get sick or break my leg etc.?
Answer: Apart from the obvious, the above is one reason why we recommend that there should be a few individuals who start the company together. Doing it alone is risky and a broken leg on a skiing holiday can push the schedule for progress forward disproportionately. Feel free to start up with others so you can cover for each other if something so unfortunate happens. The other people can help spread the work load, provide different prospectives that can help avoid pitfalls in thinking something might work because you want it too, working together is always better.

Question: How much money will my company receive from Företagsfabriken if we are accepted?
Answer: Money isn´t something that can be taken for granted. Sometimes we are able help you with financial means for certain investments or, for example, protect your intellectual property. But not always. However, we do have knowledge and networks to help you raise capital through venture capital, loans, public funds and more. 

Question: What is meant by a scalable business idea?
Answer: It does not differ much in regard to time or money for a music streaming service to get ten, hundred or a thousand paying customers. This is an example of a scalable business idea. When expenses do not increase with a correlation in relation to the company’s income. Compare that to a restaurant where the costs in time and money have a fairly linear relationship with several paying customers.