Our Business Incubation & Innovation Hub is here to help you!
What is the Business Incubation & Innovation Hub?
The Ivanaj Foundation’s Business Incubation & Innovation Hub (BIIH) offers a variety of services to support, train, and guide budding entrepreneurs who have the right idea, but lack the physical resources and/or know-how to carry their ideas from conception to successful established businesses. To state it plainly: our business is to help your business!
What kind of support and services will the BIIH provide?
Starting a new business is a challenging task even for the more seasoned entrepreneur. Sometimes even having a winning business idea is not enough to guarantee a prosperous and successful business. Here at the Ivanaj Foundation, we recognize that new start-ups require not only the physical and financial resources to get their business off the ground, but the guidance, know-how, training, and support of established professionals in the field as well.
Which is why we are collaborating with Frost and Fire Consulting, an established and experienced consulting firm who will make all their services available to our entrepreneurs.
Through our joint collaboration within the scope of the BIIH, entrepreneurs benefit in the following ways for a period of a year or more depending on needs and agreements:
- Access to their very own office/workspace and its facilities.
- Free Wi-Fi and internet connectivity.
- Necessary office equipment.
- Professional consulting and marketing services; including legal compliance and bookkeeping.
- Networking opportunities with the relevant individuals and companies within Albania and abroad.
How is the BIIH sustained?
One of the aims of the Ivanaj Foundation is to help stimulate and nurture entrepreneurship in Albania. Through the BIIH, we hope to do just that for many young, creative, and innovative Albanian entrepreneurs. To ensure sustainability and keep the BIIH running and functional for future entrepreneurs, program beneficiaries must agree to provide the Ivanaj Foundation with equity in their new, legally established company. Exact terms of contract will be determined on a case-by-case basis, as agreed upon by all parties, while moving through the BIIH approval process.
I am interested, where do I sign up?
Great! We are delighted to hear that! To make sure that we are a good fit for each other, however, there are four phases that you will be required to advance through.
PHASE 1: ONLINE APPLICATION
Download and complete this application form, making sure to include all relevant information and attach all required documents via email.
PHASE 2: INITIAL INTERVIEW
Once your application has been reviewed, and if selected to advance, you will be contacted by the Ivanaj Foundation to schedule an initial interview. A list of documents that you need to prepare and bring with you to the interview will be provided.
PHASE 3: PRESENTATION TO THE BOARD
Following a successful initial interview, you will have the opportunity to present your business idea to a jury panel comprised of BIIH committee members.
PHASE 4: CONGRATULATIONS! DRAFTING OF PARTNERSHIP AGREEMENT
If the BIIH committee determines that your business idea is a good fit for the program, you will have the opportunity to discuss and negotiate contractual terms and agreements between you and the Ivanaj Foundation. Now the real work begins we look forward to partnering with you!
For more information regarding this opportunity, please contact us.