Procedures & Support
Innovations will be enrolled in one of the following phases:
- Idea phase
- Research and Development
- Prototype phase
- Start- up phase
- Market phase
- Scaling- up phase
Innovators will be provided with necessary support such as; business development services, seed capital, space, telephone services, high speed internet, stationery, administrative support, professional guidance and mentorship for a period of twelve (12) months (with possible extension). However, every business at the Chandaria-BIIC will be required to meet various milestones to continue receiving support (Innovation Acceleration Form).
- A company will be exited from Chandaria-BIIC if it does not attain satisfactory growth for the first six (3) months.
- After a maximum period of twelve (12) months, companies will exit the Chandaria-BIIC but the successful ones may exit earlier than that upon attainment of their maximum growth to maturity.
- There will be a full time Administrative Assistant with a background in Business Administration and Accounting to offer administrative support at the Centre.
- Other support staff will include a receptionist, a cleaner and a messenger.
- On regular intervals, renowned entrepreneurial icons shall be invited to talk to the innovators.
- A selected team of professionals from relevant disciplines will be available on daily basis to offer advisory support to the innovators as consultants.