When the idea of starting a business springs up, the future student-entrepreneur must face many doubts. Thanks to the business school incubator, he can be accompanied and guided throughout his project. But what is a business incubator? A business school incubator? What are its benefits for students? In this article, we will explain why joining a business incubator is a great thing for student entrepreneurs.
What is a business incubator?
When you start a business, the first few months are crucial. The entrepreneur often feels the need to be guided during this period. In the majority of cases, he needs material, financial, intellectual, human resources, or even legal aid.
The business incubator is a precious ally at this time: it supports young entrepreneurs in their first steps. The stakes are doubly important when the entrepreneur is studying in a business school: he must be able to reconcile school life and entrepreneurship without abandoning one of these activities for the benefit of the other. The incubator's missions are numerous. They are focused on:
- Support: the entrepreneurs monitored are constantly challenged and monitored by specialists who are experts in the field concerned. They can follow various training courses allowing them to think their entrepreneurial project well. This can be useful if the entrepreneur wants to obtain funds, as investors often come to take a close look at projects in this type of structure.
- The network: having an extensive network is essential for any entrepreneur wishing to make themselves known and get great opportunities. The incubator was created for this purpose: it is a place conducive to meetings, because a multitude of entrepreneurs coexist there. The structures also make an address book available to student entrepreneurs, allowing them to easily find suppliers or partners for their business. However, the incubator does not invest in companies, but facilitates the connection between entrepreneurs and investors.
- Logistics: at the start of the activity, it can be difficult to find equipment or premises. The cost of these items can quickly erode the contractor's turnover considerably (the latter is often zero or low during the first months of the activity). This situation is problematic and forced many young entrepreneurs to abandon their project. The incubator has, once again, solved this: start-ups have access to meeting rooms, an Internet network, premises ... Without having to pay a single euro.
The operation of a business school incubator
Many students want to join a business school. Indeed, there are many business school outlets and post-study professional integration is easy with such a background. Very often, the studies followed arouse in the students the desire to start their own business. In this case, two solutions: wait for the end of studies, or get started without waiting. The business school incubator is ideal for enabling students to quickly realize their project, without taking too great a risk or jeopardizing their education.
More and more large schools providing higher education are setting up incubators on their campuses. In addition to their training, students can then join a business school incubator. They can thus combine studies and entrepreneurship in the same place.
Several steps have to be followed for a project to be hosted within the incubator:
- Construction of the project: the student or young graduate must reflect on their project. Its feasibility and development potential will be assessed. He is accompanied during an appointment with an adviser.
- Presentation before a jury: after preparing their application, the student presents their project (market research, value proposition, etc.) to a jury in a few minutes. The jury members select the projects that will join the incubator.
- The incubation phase: once validated, the project turns into a start-up or company. The entrepreneur performs the first tasks relating to his business, such as the construction of his visual identity and his website.
- Presentation to investors and customers: thanks to support in an incubator, once all these steps have been completed, students can present their project to partner companies, clients and investors.
The advantages of the business school incubator for students
You now know why going to business school with a business incubator can boost the careers of students with support. The incubator simply allows students wishing to undertake to get started in a secure structure. Throughout the progress of their project, student-entrepreneurs have the opportunity to be guided and accompanied with kindness. Surrounded by experienced professionals, he is advised to promote the success and growth of his business. In short, the business incubator is a real springboard and a safety net for students wishing to start entrepreneurship before having completed their schooling.
Do you want to combine business school studies with entrepreneurship? We invite you to join the IPAG incubator, a business school and business incubator for students.