Why do early entrepreneurial teams need incubators?

Why do early entrepreneurial teams need incubators? Or in other words, what core Services does the incubator provide for the early teams?

Positioning

Target customers: Our target customers are early Internet start-up teams. We define the early, refers to the team 3-5 people, the product in the development or testing phase.

Exclusion: First, the incubator can only serve the light asset industry. Traditional industries (heavy equipment, medicine, etc.) cannot be hatched out of the so-called. In addition, our incubator service is the earliest entrepreneurial team. If the project is more mature, the team has been relatively complete, has the ability to independently develop, the incubator can do is very limited.

Some spit.

We often hear investors say: "We cast a man .... "Let us reflect on this conclusion, in the face of no profit, no income, no business model, no users, and even no product of entrepreneurial projects." In addition to the team, there seems to be no other criteria for investment. "Cast people" is only a passive result.

Above, we have identified the target customers of the incubator, and the investment standards of investors for the earliest start-up projects. Next, we'll see where the short boards of the early projects are.

Core issues

We believe that the core of early entrepreneurial projects in the short board: team imbalance (or not integrity).

Lack of core personnel: The best configuration is the product, operation and promotion of each individual. But in the early days, the product may need to be responsible for PM, development, and design everything. If there are fewer partners, the product also needs to juggle the work of the operation. The founders must have the ability to be in multiple jobs without being able to integrate external resources or product or brand influence.

Lack of peripheral personnel: including excellent legal, financial, mentor, partner resources. These work and resources are necessary, but not high priority.

Incubator Core Services

Next, we look at the underlying services and core services that the incubator provides, as well as the possible short boards per service for the entrepreneurial team.

Joint office space: Team security, especially team work morale.

Investment funds: mainly for recruitment and promotion. Completion of the team missing personnel, product promotion, user access.

Instructor Docking: The mentor's historical experience and connections can complement the team's inexperience.

Upstream and downstream partners recommended: The entire team in the industry chain extension.

Technology media: Timely reporting of products to help build brand influence, access to users.

6th PARTNER: We are also half HR for all team projects, helping the team to sift through the best channels and recruit new members. In addition, we are also an angel user of early projects to help with product testing.

Finance/Law: Early projects generally do not have a full-time financial and legal service.

Incubators and ecosystems

So if we look at the entire incubator and the ecosystems around the incubator, it will include: in-house members of the incubator, VC, mentor, media, law, finance, upstream and downstream partners, recruiting channels, overseas incubators and parks, and other incubators.

Summary

The services and products provided by the incubator, in the face of early projects, with the team temporarily incomplete, through the incubator of their own team, as well as the ecosystem around the incubator, in a time period to complement the entire team part of the short board, to help the early team to develop products, continuous iteration, access to Angel users, access to financing, Until the formation of a complete project and team to graduate smoothly.