ABOUT THE BUSINESS INCUBATION
The Business Incubator (BI) Swaziland is a not-for-profit business incubator within the Royal Science and Technology Park (RSTP). It is housed on the third floor of the Innovation Park at Phocweni, Swaziland. BI supports small and medium enterprises (SMEs) developing innovative products and services (or ideas) in the Information Technology (IT) sector, including (but not limited to) software, computer hardware, telecommunications and the Internet.
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.
CATEGORIES OF THE SERVICE
BENEFITS TO START -UPS
Low overheads at the early stage of the start-up cycle because of shared and subsidized facilities and services. This enables start-ups to direct resources to the development of the innovation and business.
Technical & Business Know how
Acquisition of technical and business know-how which prevents start-ups from
making mistakes that can lead to technology and business failure.
Legitimacy by associating with and being promoted by the RSTP which leads to market access for the start-ups. Legitimacy can also attract financiers and collaborators.
PRIORITY CLUSTERS/TYPES OF BUSINESS
To be admitted into the incubator, a start-up must be involved in the production of or improvement of a product or service or technique to solve a problem that specific customers or users are willing to pay for. This can be achieved through one or a combination of the following:
- Pioneering a truly innovative product or method (new or significant improvement of an existing one);
- Devising a new business model;
- Creating a better or cheaper version of an existing product; and
- Targeting an existing product to new sets of customers.
For the application process, forms and eligibility criteria visit :