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
  • Other

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.

 

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