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Founded by Rich Bendis

Day Two Summary: “Trade Over Aid- Let the markets do their work”

Day two began with breakout sessions where three groups hashed out, perhaps the most pressing topic for Incubators, the creation of a financial ecosystem. These collaborative examinations covered both how to source and deal with seed financing for the businesses as well as managing the funding needs of the incubators. The use of investment principles and classical due diligence processes was highlighted as critical to bridging the chasm between esoteric invention and economically impactful commercialisation. It is rigorous, structured, financially empowered incubator management that will help small companies high jump the “valley of death” experienced through idea formulation to external funding and independence. Henri-Francois Boedt, of the European Investment Fund, who backed the Chalmers Innovation Incubator in Gothenberg in 2000, believes incubators can attract VC funding by behaving like commercially valid, growth-driven businesses themselves. He provided the group with tips to help Incubators attract VC funding:

  • Have strong best practices incubation processes
  • Provide intensive guidance
  • Become an attractive counter-part for investors
  • Help start-ups apply for grants and soft loans
  • Coach entrepreneurs towards fundraising
  • Organize match-making events
  • Manage and participate in business angel networks.

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