The process of Företagsfabriken’s Incubator program consists of eight steps:
You as entrepreneur send in an application to join our Incubator program where you describe your business (we treat all information you submit to us with absolute / total secrecy)
After reviewing your application, you will meet one associate from Företagsfabriken. In this initial meeting you will get more information about the Growth program and what it entails. The purpose of this meeting is to learn more about you, your business idea or company and assess if your business idea or business meets our requirements of eligibility to our Incubator program. If we find that your business idea or business is ready to potentially join the Incubator program, you will need complete out screening process next. If not, you will give your feedback about what is missing for you to be eligible and potentially we can offer you business development help in various forms, these should give you the tools to develop your business and prepare your business idea for its next step.
After the first meeting, if your business idea or your company was deemed to eligible for a position in the Incubator program, we will perform a screening. For this screening you will need to submit a description of your company and you will be invited to a meeting where we will ask more questions in depth about your company, business model, your team and more. From this we will do an evaluation of your company and if you are ready for our Incubator program. We will make this decision based on:
– If your company meets Företagsfabriken’s criteria for incubation.
– Your businesses alignment with Växjö Kommuns Agenda 2030-goals
– Your companies understanding and willingness to commit to be a company in our growth program, and have shown full understanding of what it means.
If you meet our requirements you will be offered a position in our Incubator program. The incubation process commences with a prepared introduction program, which consists of several steps. The steps include a session about value proposition and business model, a vision exercise to ensure that the whole team are aligned on longterm vision. After the initial sessions, there will also be training sessions that covers basic economy, marketing and other subjects.
Throughout your time in the Incubator program you will work closely with a Business Developer who will help you with your business development, based on your needs and will strengthen four basic fields that will help you succeed with your business.
Market – feedback from customers, marketing, sales and internationalization .
Proposition – value offering, MVP (minimum viable product), product.
Operation – team, business model, visions, objectives, routines, administration, recruitment, sustainability.
Financing – ensuring access to capital needed (self-generated capital, public funds or private funds)
During your time in the Incubator program, you and your team members will get the opportunity to participate in an education program – consisting of training sessions and workshops.
During your time in the Incubator Program there will be regular scheduled check ins where you will receive feedback about your business, the incubation and if you are fulfilling the continued requirements to participate. These will also include financial check-ins and your participation in the growth program will also be discussed. At these times you also have the opportunity to highlight if you have need of more support, in terms of tools, skills or training or other things to enable you to continue developing the business. you can also use these meetings to discontinue your participation if you feel the program is not suited to you or the timing is not right. We try to make the process a two way communication that allows you to give us the information that can help us help you.
Before your time at the incubation ends, you will go through the status of your company together with the Business Development Manager. You will discuss the plans for the future, reflect over your time in the growth program and collaborations with your peers in the program. This is to provide you with the best opportunities to continue your business and stay on track with your turnover targets after you complete the incubation. This discussion also provides valuable input about how Företagsfabriken can keep improving the growth program.