unfortunately we did not attend the internship this past friday due to a busy schedule of our contact person at ACE but nonetheless we’ve made progress and I’ll continue where we left off last time. In the last blog an action list was presented for three of the five beneficiary parties of the project to turn the Science park into an interactive and inspiring entrepreneurial hub. I will now explain actions to be taken by the ACE Venture lab.
The Venture Lab and Science Park must create a well designed website. In the current times social media and online interaction is very important. Therefore the website will ideally have an integrated platform to be used for online interaction between businesses, students to businesses, investors to businesses, etc. Businesses should be able to share knowledge with each other and make contact with one another through this online platform. Also they should be able to reach the students of the Science park easily by being able to post job/internship vacancies for example. It would be wonderful to create a kind of Science Park-Network platform. As brought to light in the lectures, a good network is vital to any business, and therefore a good network on the Science Park can be vital to the success of the startups that are active on the Science Park.
Aside from this the website should contain an event calendar that clearly shows everyone all of the upcoming activities such as workshops, presentations, network events, etc. The website should also post news from the ventures and it should clearly demonstrate the process associated with starting a business through the Venture Lab.
The Venture lab should start designing the process itself. The two-year-pipeline should be cut up into different phases that are vital to starting the business. Designing a process that can be applied to any start-up is vital and saves incredible time. In it the products and services the Venture lab has to offer should be embedded. These products or services can be things like: web/IT Design, financing, access to facilities, coaching, etc. To give you an example: Phase I can be a 2 week phase that focusses purely on designing the businessplan with a coach. Phase II can focus on obtaining financial resources.
Another action that should be set in motion by the Venture Lab, but one that relatively has low priority is the establishment of relationships with other incubators. Knowledge about the incubator itself can be exchanged, but also knowledge between the startups can be exchanged. Startups that need certain products or services can turn to other startups from other incubators rather than grown businesses, and this will lead to a mutual acceleration of startups from both incubators.
More to come!