BUSINESS INCUBATION MANAGEMENT TRAINING COURSE IN PARTNERSHIP WITH STM KONSULT AND IBRAHIM BADAMASI BABANGIDA UNIVERSITY LAPAI, NIGER STATE, NIGERIA.
This is a practical training for becoming a successful Incubator manager/BOD member
INTRODUCTION infoDev Training Program
infoDev (www.infodev.org) is a research, capacity building and advisory services program, coordinated and served an expert Secretariat hosted the World Bank Group. It helps developing countries and their international partners use innovation and information and communication technologies (ICT) effectively as tools for poverty reduction and sustainable social and economic development. infoDev is a leader in business incubation of technology-enabled enterprises. InfoDev’s global business incubation network reaches close to 300 business incubators, more than 20,000 small and medium enterprises, and has helped create over 200,000 jobs across 87 developing countries.
This training program is designed for business incubation managers and other business incubation stakeholders wishing to increase their understanding and know-how of the business incubation process. It consists of 12 training modules ranging from basic introductory topics designed for professionals new to business incubation, to specialized topics such as Technology Commercialization and Virtual Business Incubation Services.
The modules include:
Suite 1 – Business Incubation Basics
Module 1 – Business Incubation Definitions and Principles
Business incubation is an important mechanism that support growth oriented entrepreneurs, but it is not always well understood, especially in relation to other business support systems. The modules explore key definitions and present the main principles and good practices of business incubation, in the context of the phases of incubator development and how business incubation adds value to entrepreneurs. It considers the difference between business incubation and the business incubator and how they operate and influence the broader business incubation environment. It aims to equip current and future incubator managers and policy makers with the knowledge, skills and understanding of the fundamentals of business incubation, in order to effectively foster and encourage growth oriented businesses and to position business incubation properly in relation to other business support services.
Module 2 – Business Incubator Models, Including Success Factors
There is no one model for business incubation, but many, as a result of differing ownership structures, objectives, profit aspirations, the style of incubation and the local business environment. This module aims to illustrate various business incubator models based on practical examples of incubators from all over the world. The most common business models used incubators to generate revenue for their own financial success are outlined and discussed. The ultimate goal of this module is to empower current and future incubator managers with a thorough understanding of the various business incubator models and their critical success factors.
Suite 2 – Business Incubator Operations
- Module 3 – Planning an Incubator
This module, which divided in two parts, covers assessing the feasibility and designing the business model for an incubator. The first part is aimed at providing a thorough understanding of developing a feasibility study. This includes the steps to undertaken pre-feasibility study, the components that it should address, as well as how to gauge the market need and decide whether an incubator is the most appropriate solution. The second part of the module focuses on business planning to establish the incubator business model.
Module 4 – Marketing and Stakeholder Management
Business incubators have multiple customers, in terms of their stakeholders and clients, the needs of which differ. In the context of strategic marketing, this module is designed to support efficient and effective communication with key customers and other stakeholders, based on a good understanding of the market place.
This module also talks about the marketing mix (7 Ps), as it relates to incubation, is analyzed in terms of two key customer groups, stakeholders and entrepreneur clients, to help ensure business incubation aligns with their unique needs, or is adapted accordingly, and so that this framework can be used to develop or refine marketing strategies, subsequent to the training.
Furthermore it focuses on defining the incubator’s value proposition and engaging appropriate promotion channels, referring to the incubator’s objectives, capability and the market opportunities. Referring to the marketing communication mix, options are analyzed and what works in incubators is presented, to help incubators develop their own cost effective and reliable promotion channels.
Module 5 – Financing an Incubator
This module in general gives analysis of how to establish the business incubator using finance because incubation as with any business needs finance and a plan for financial sustainability. The module looks at capital and operating costs, along with revenues, so that managers can budget for an incubator’s establishment and determine the finance needed to take it to break even. Building on this, Potential finance sources are explored, with consideration of who funds incubators and why, possible funding instruments and how to develop a fundraising strategy.
Module 6 – Managing the Incubator
Module 7 – Monitoring, Evaluation and Benchmarking
Suite 3 – Advanced Incubator Management
Module 8 – Implementing a Mentoring Program
Module 9 – Deals and Financing for Incubator Clients
Module 10 – Technology Commercialization through Incubation
Module 11 – Setting Up Virtual Services
Module 12 – Agribusiness Incubation