Frequently Asked Questions

Why Business and Technology Incubation?

Business and technology incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and coordinated by incubator management and offered both in the incubator and through its network of contacts. Being in a supportive incubation environment reduces capital requirements, typically leads to a quicker-to-market timeline and brings returns forward in time.  Thus, successful completion of a business incubation program increases the likelihood that a start-up company will build a sustainable business. Of course, success is highly dependant on the commitment of the entrepreneur to not only participate fully in the incubation programme by leveraging every opportunity available to build his / her business, but also to accept that, whilst the incubator provides a supportive environment, the success of the entrepreneurial venture ultimately resides with the entrepreneur.

What is the process for being considered for the Softstart BTI Incubation Programme?

Tell me about Softstart BTI’s coaching programme

Coaching is aimed at providing the necessary skills for entrepreneurs to address short term tactical issues whilst planning long term strategies for their businesses. Business coaching is individually tailored to your needs and entirely outcome focused and can help you, the business owner, to set better goals, reach those goals faster, make better decisions and improve relationships. For many people, developing an entrepreneurial venture can be a lonely road - one of the many roles a Coach can play plays is that of a sounding board and a confidant, someone who genuinely cares about the issues you face and who is there to help you find solutions to problems quickly and effectively. Although this may not be your Coach’s main function, it is an invaluable one. In general, coaching is considered to be a valuable tool to promote learning and entrepreneurial development and to get leaders on track for future growth.

Softstart BTI facilitates the pairing of the entrepreneur with a coach, based on an assessment of where the entrepreneur is at in the development of his / her business.  Entrepreneurs each participate in a two-hour coaching session on a monthly basis, after which a Coaching Report, containing detailed feedback of each session from both the entrepreneur and the coach, is submitted.  This report assists all three parties in the relationship - the entrepreneur, the coach and the Incubator - to identify further areas of development and to recognise where progress had been made. All Softstart BTI coaches enter into a non-disclosure agreement with the Incubator, thus the entrepreneur is assured that confidentiality is maintained.

Softstart BTI coaches undergo a rigorous selection process and typically represent the following profile:
· Coaching qualification and / or more than five years coaching experience
· Entrepreneurial background
· ICT industry knowledge
· Well-networked individuals

Will Softstart BTI provide me with funding?

No, Softstart BTI does not provide funding or financial resources.  Our role is to provide you with a supportive environment for building your business and our investment in your company takes the form of business development interventions, such as coaching and mentoring, training and development, access to professional service providers, networking opportunities and access to plug-and-play offices and shared resources.  These services reduce the capital investment required, reduces your operational expenses and contributes to the building of a sustainable businesses, quicker. 

What incubation fees will I pay?

Incubation fees vary according to incubation phase - hence the cost will depend on whether you enter the Pre-incubation, EarlyStart, Virtual or Full Incubation Programme.  When benchmarking Softstart BTI’s incubation fees against other office rental facilities, you should bear in mind that incubation involves far more than merely taking occupancy in a building - after all, you will be an incubatee, not a lessee - and hence the fees incorporate the full incubation offering, as reflected in the services offered.  You should also bear in mind that you gain access to the services offered at the best possible price, since you benefit from Softstart BTI leveraging its relationships with other service providers.  Hence, although incubation services are subsidised by role players in the Softstart BTI ecosystem, incubation does come at a cost - however, the benefits far outweigh the cost!