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Assisting the development of entrepreneurial ideas into sustainable businesses

Assisting the development of entrepreneurial ideas into sustainable businesses. The International Business Incubation Model. Incubators act as An economic catalyst, Part of a nation’s support infrastructure,

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Assisting the development of entrepreneurial ideas into sustainable businesses

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  1. Assisting the development of entrepreneurial ideas into sustainable businesses Technology Development and Innovation File Location

  2. The International Business Incubation Model Incubators act as An economic catalyst, Part of a nation’s support infrastructure, Identifies, encourages and supports business start-ups for innovative and high value-added products. In essence, incubators play a nurturing and interactive role in assisting new and emerging businesses to survive and grow. Technology Development and Innovation File Location

  3. 8 7 6 5 Malta Non-EU 4 BIC's per million pop Candidate EU 3 2 1 0 Poland Norway Italy (19) UK (246) Latvia (2) Malta (1) Ireland (5) Israel (24) Spain (26) Russia (1) Greece (4) Cyprus (5) France (80) Bulgaria (2) Slovakia (1) Portugal (8) Austria (16) Finland (38) Sweden (16) Romania (1) Lithuania (4) Belgium (13) Denmark (10) Luxemburg (2) Germany (202) Switzerland (3) Netherlands (8) BICs in Europe Technology Development and Innovation File Location

  4. 57 Units • Range of Areas from 25 m2 to 150 m2 • Gross area is approximately 4,800m2 • Management block is equipped with a conference and meeting rooms, reception, fully fitted kitchen and leisure room • Premises is monitored by CCTV system controlled access, fire systems, public address system and forced ventilation • Each unit is equipped with a basic infrastructure of electricity, water, telephony, data connectivity, furniture and air-conditioning Technology Development and Innovation File Location

  5. KBIC’S Internal Competences • Expertise in trade, already have schemes and tools that attracted 24 tenants • Have attracted over 300 queries in 3 years • Have structure up to international norms and procedures. • Sufficient size for the regional requirements • Has attracted national/ regional clients as well as overseas clients • Clients come from different fields including ICT, environmental, biotechnology and engineering Technology Development and Innovation File Location

  6. Present KBIC Projects Information Technology and Communications 4 Equipment Systems 5 Renewable Energy Resources 2 Biotechnology 1 Other Innovative Pioneering Projects 10 • Anchor Tenants • Malta Standards Authority- Metrology Labs • Computer Society of Malta Technology Development and Innovation File Location

  7. BIC Process Pre-Incubation • Eligibility : • Within target groups. • Near/ Start-up • Local • Private funding One client started occupancy in less than 3 weeks within first making contact. Information Exchange to test validity of proposal where applicants may be accepted for pre-incubation and helped to build a Business Plan Pre-Incubation 9 months 0 Technology Development and Innovation File Location

  8. BIC Process- Tenancy Once approved the applicant will be invited to sign a 3 year tenancy agreement 3 years Pre-Incubation 9 months 0 Information Exchange Technology Development and Innovation File Location

  9. BIC Process- Periodic Performance Monitoring Monitor the achievement of the goals that were identified in the milestone schedules of the business plan, in terms of technological accomplishments, financial and market results.Review of monthly financial reports, as well as the periodic reviewing of the client's business plan Tenancy Agreement 3 years Pre-Incubation 9 months 0 Information Exchange Technology Development and Innovation File Location

  10. KBIC Benefits: Consultancy • Business Counselling and Support - informal meetings and formal reviews. • Business Planning Assistance - hands-on business plan development assistance, implementation and monitoring • Local and Foreign Networking - linkages to local Government institutions, consultants and international networks • Access to Community Resources - including ME Resource Centre • Training – provided by experienced tutors and covers amongst others the following areas: Business Planning; Basic Accounts; Access to Finance; Market Research; Marketing; Interpersonal Skills; Structuring a Deal and Negotiation; Quality Management; Company Law Technology Development and Innovation File Location

  11. KBIC Benefits: Financial • Access to Finance – post business plan guarantee covering up to 75% of the loan for a maximum value of Lm40,000. • Assisted loans may be repayable over a maximum period of 10 years inclusive of a two years moratorium on capital repayments • The loan account guaranteed will benefit from a preferential rate of interest • Up to Lm2,000 grants for post business plan implementation measures on Marketing and Human Resources initiatives • Specialised Counselling – 60 hours specialised counselling from the pool of ME’s accredited professionals. • Support to Child Care Services - up to Lm1,000 grant to support professional child care services Technology Development and Innovation File Location

  12. KBIC Benefits: Infrastructure • Clients` Units - flexible spaces with varying sizes complete with basic infrastructure, basic set of furniture and where applicable special services • Secure Facility - monitored by CCTV, ample parking space and accessible 24hrs daily • Secretarial Support - handling of telephone calls and snail mail • Use of Shared Office Equipment - photocopier, computer, fax and document binder • Facility Infrastructure - fibre optic connection with shared or dedicated internet service • Other shared Services - canteen, leisure areas, meeting rooms and conference room with projection equipment Technology Development and Innovation File Location

  13. BIC ProcessGraduation Criteria • Significant revenue growth and/or profitability • 15 or more employees. • The enterprise makes a public offering of its stock. • Pre-set exit time Graduation + After-care Services (2 years) Tenancy Agreement 3 years Pre-Incubation Periodic Performance Monitoring Business Counseling, Support, Assistance, Networking, Office Equipment, Access to Finance, 9 months 0 Information Exchange Technology Development and Innovation File Location

  14. BIC ProcessExit Criteria • Its actions or activities would conflict drastically with the project • Inappropriate management commitment • Change in its controlling interest Graduation Tenancy Agreement 3 years Pre-Incubation Periodic Performance Monitoring Business Counseling, Support, Assistance, Networking, Office Equipment, Access to Finance, 9 months 0 Information Exchange Exit Technology Development and Innovation File Location

  15. BIC Process - Overview 1. Eligibility check and Business Plan Assistance 2. Periodic performance review and full KBIC benefits: Business Counselling, Planning Assistance, Support, Local and Foreign Networking, Access to Finance, Secure Operating space with secretarial support, office facilities, infrastructure including internet service and phones as well as child support services. 3. Success (growth, profitability, need for more space) leads to graduation Graduation Tenancy Agreement 3 years Pre-Incubation Periodic Performance Monitoring Business Counseling, Support, Assistance, Networking, Office Equipment, Access to Finance, 9 months 0 Information Exchange Exit 4. Inappropriate management commitment and actions lead to Exit Technology Development and Innovation File Location

  16. KBIC Membership and Listing • The European BIC Network (EBN) http://www.ebn.beis the leading  European network gathering 160 Business and Innovation centres (B.I.C.s). Created  about 20 years ago by the European Commission, EBN is a Brussels-based team offering strategic lobbying & members promotion; technical assistance; thematic networks & EC-projects; network animation The National Business Incubation Association (NBIA) http://www.nbia.orgis the world's leading organization advancing business incubation and entrepreneurship. It provides thousands of professionals with the information, education, advocacy and networking resources to bring excellence to the process of assisting early-stage companies worldwide. www.cordis.lu lists more than 700 European incubators providing entrepreneurs and investors in newly created firms with a supportive environment to help establish and develop their business. It assists entrepreneurs to find their closest incubator; to facilitate networking among business incubators in Europe and to help national, regional and local authorities to access information on the European incubators Technology Development and Innovation File Location

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