Airbnb, Dropbox and even our very own BudgIT and Pass.ng, all emerged from a Startup Incubator.
There are arguments whether for and against going through a Startup Incubator in Africa, but one can't overlook the benefit that comes with being part of the incubation for a period of three to six months.
There's access to seed funding, influential VCs and investors, professional guidance and advice from veteran and successful entrepreneurs, network of like-minded and ambitious entrepreneurs, top-notch mentoring, hands-on training, influential networking as well as press.
You also don't have to worry about office rent or internet for that short period of time.
After you must have figured out that your startup is going in for an incubation window, to get your business idea off the ground, and the right incubator has been considered, and applied for - end of story.
There are questions you need to be prepared to answer when you are meeting for the interview that'd seal your application.
The 'WHY' question
- Why do you want to join the incubator in question? Even when hiring, employers ask the reason why you want to join the company, do be prepared to answer the same question when applying for the incubation programme.
The 'WHAT' questions
- What problem is your solution working on addressing? This is probably one of the most important questions - although, there are chances your solution might be tweaked to meet certain standards.
- What’s the closest existing product?
- What is(are) your unique selling point(s)?
- What are your customers/users saying about your solution?
- What's the current state of your startup? Is your business idea in its fully-fleshed out concept? Is your beta version out or are you already having market traction?
The 'HOW' questions
- How big is your market?
- How big is your startup's potential RoI?
The 'WHO' questions
- Who are your competitors?
- Who are on your team?
Aside all these questions, what's most important is your passion - exhibit it in every single opportunity you have.
Photo Credit: mulf via Compfight cc
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