Social Challenge
Better prepare students and entrepreneurs to build their own, economically sustainable futures.
Objective
Give selected clients access to business development and incubation services, while promoting local, public engagement and outreach.
Main Services
Business/Startup Incubation: The BBI provides incubated businesses with business services and this includes hands-on business services starting with product development and marketing services and reaching to the Financial and legal services needed by any startup. BBI offers also the possibility of further customized and specific business services.
The BBI provides a range of customized services built within a clear work plan / action plan. They include technical and consulting services and capacity building program:
Technical and Consultancy Services
- Business plan
- Developing a company profile; mission, vision, objectives, and values
- Website creation
- Social media channels creation and posts
- Branding material
- Registration and legal services (Taxation session, registration panel, registration)
- Mobile applications and equipment (according to the need/funds)
- Promo videos
- Marketing campaigns
- Investment opportunities (Organizing investors panels)
- Disseminating startup opportunities to all incubated startups
Capacity building program
- Capacity building sessions and trainings
- The Importance of Branding
- Time and Task Management
- Social Media
- Human Resource Management
- Pitching and Presentation Skills
- Customers Service
Talent Development
Promotion
How does the incubation process operate?
The BBI accepts ideas through official calls for applications where people are invited to apply to the BBI with their ideas using an online application portal provided by the BBI. The BBI may also receive requests for applications during the year (outside the application round period) or startups can be incubated through winning bootcamps or hackathons, business plan competitions, Startup Weekends, and any other startup event.
ONE
After the round is closed, the BBI team and a selected committee will go through the received applications and make an initial screening based on some criteria. The criteria for the initial screening process is based on:
- Idea
- Creativity
- Applicability
- Profitability
- Social impact/ creation of job opportunities
TWO
After the initial screening, the BBI team and a selected committee evaluate the applications again and prepare a final shortlist.
THREE
Shortlisted applicants are contacted and asked to prepare themselves to present their ideas before a committee from BU and the BBI staff.
FOUR
The committee evaluates the ideas based on a specific set of criteria. Criteria is based on:
- Idea
- Market
- Team
- Competitive
- Strategy
- Sustainability
FIVE
Presentations/pitches are between 5 to 7 minutes/team after which the committee has up to 15 minutes for questioning the startup.
SIX
The committee members consult among each other and select the best ideas to be incubated at the BBI based on the above mentioned criteria.
SEVEN
All the selected startups are officially notified of the results with a formal letter from the BBI.
EIGHT
The incubation process starts with an information session with the startups about the incubation process and signing a contract to insure commitment.
