THE BUSINESS INCUBATOR

STARTUPS | SME's | SUCCESSS

The Business Incubator Overview

The business incubation service offered by the Royal Science and Technology Park (RSTP) is a comprehensive and highly flexible combination of business development processes, infrastructure and people designed to nurture innovative start-ups so that they survive and grow through the difficult and vulnerable early stages of development. This service contributes towards investment (through local enterprises) by removing barriers to entrepreneurship, market access and innovation. The country as a whole benefits through job creation and value addition which boosts the gross domestic product.

The unit facilitates innovation in information and communications technology, biotechnology, agriculture and food, climate and environment including waste management (green solutions) and indigenous knowledge systems. Innovation is achieved through two functions of the incubator:

(i)  Biotechnology research and development and commercialisation of the ensuing intellectual property. 

(ii)  Entrepreneurship  support services.

Objectives of The Business Incubator


Enabling research and development through laboratories so that the research outputs can contribute towards bio-innovation, bio-technology and/or bio-resource development, address social ills, and ultimately boost the national GDP. These results will be realised within the context of the Eswatini bio-economy strategy which aims to boost economic growth, increase employment and enhance the well-being of Emaswati whilst ensuring sustainable ecosystem conditions. 


Nurturing innovation-led early stage enterprises (start-ups) to become viable, competitive and significant contributors to job creation and the national GDP. This is achieved by providing start-ups with the following: co-working space & amenities at Songcondvongcondvo Wemaswati House; capacity building (training, advisory services, mentorship and community building events); business facilitation for market access (letters of support, exhibitions, publicity and company registration); intellectual property protection & commercialisation; legal services and early-stage or seed-stage fundraising support for start-ups.

 

Business Facilitation

Company registration services and market access support e.g introductions and exhibitions as well as providing comapany registration as a service.

Co-working space and amenities

Enterprises will have the opportunity to occupy Songcondvongcondvo Wemaswati House through a lease agreement. 

Fundraising Support

Once admitted into the incubator, start-ups will be notified about available funding opportunities and advised on how to develop a funding proposal. 

Intellectual Property Protection

Intellectual Property (IP) protection could be in the form of a patent or trademarks and trade secrets in which BI will provide as a service to start-ups. 

Legal Services

The Business Incubator also offers the formulation of commercial contracts as well as other services that involve the legalities of starting a company.

Priority Sectors & Services

The Business Incubator specialises and operates in a number of priority sectors in order to provide a wide range of services and resources to startups as well as small and medium enterprises. The priority services operated in by the business incubator are as follows; Information and Communication Technology, Biotechnology, Agriculture and food, Climate adaptation and environment (green solutions) and Indigenous knowledge systems and other sectors of innovation. 


Within these sectors the business incubator provides its services and resources to ensure the successful growth and survival of all enterprises. The Business Incubator offer services such as, research facilitation, co-working space and amenities, business facilitation, intellectual property protection and commercialisation, legal services and fundraising support.

Information and Communication Technology
"Humans are the reproductive organs of technology" - Kevin Kelly
Biotechnology
"Feeding the world will be one of the greatest challenges of the 21st century. It will be impossible without using scientific advancements and biotechnology" - Mike Pompeo
Agriculture and Food
"No race can prosper until it learns that there is as much dignity in tilling a field as there is in writing a poem" - Booker T Washington
Climate Adaptation and Environment
"Adaptation is a vital part of a response to the challenge of climate change" - Nicholas Stern
Indigenous Knowledge Systems
"If people can't acknowledge the wisdom of indigenous cultures, then that is their loss" - Jay Griffiths
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Benefits to Start-Ups

Low overheads – shared and subsidized facilities and services enables start-ups to direct resources to the development of their products or services and businesses.

Acquisition of technical and business know-how – founders and teams learn fast and avoid mistakes that can lead to product and business failure.

Legitimacy – associating with and being promoted by the RSTP can facilitate market access. Legitimacy can also attract financiers and collaborators.


Selection Criteria for Startups

1) Relevance

2) Innovation/originality & intellectual property

3) Founder(s) or team strength

4) Prototype or proof of concept

5) Proof of market attractiveness and product opportunity (market research)

6) Commercialisation and financial evaluation:

 

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