Incubator Manual - MBI€¦ · Title: Microsoft Word - Incubator Manual.docx Created Date: 7/6/2017...

ManualoftheKoreanBusinessIncubatorModel—May2016 1

Manual

ofthe

Korean

Business

Incubator

Model

KwangHwiPark

JayKim

May2016

Supportedby


Introduction 3

Overview 4

Background 6

Objectives 8

HistoryofKoreanBusinessIncubators 9

IncubatorStructure&OperatingSystem 11

IncubatorManagementOverview 13

IncubatorManagement—EntranceProcess 14

IncubatorOccupantManagement 17

IncubatorGraduateManagement 21

SupportServicesoftheBusinessIncubator 23

IdeaandSelectionCriteriaGuide 24

ResponsibilitiesandDuties 25

ObligationsofVariousParties 26

IncubatorDevelopmentFinancingandFunding 27

Government&BusinessIncubatorRelations 29

ActivitiestoAttractStart-upIdeas 31

GovernmentalEvaluationofIncubators 34

IncubatorConnectiontotheMarket 36

CommercializationofIdeas 38

Interview—YongjaeKim—CEOandCo-Founder,Knowre 40

Interview—EugeneKim—Co-CEOandGeneralPartner,SparkLabs 41

Interview—Hong-GyooSohnPhD—YonseiUniversityBIDirector 42

TableofContentsGuide


Nationsaroundtheworldstrivetoimprovethequalityoflifeoftheirconstituents.Theymustworktodevelopandbuildtheeconomywhichcreatesopportunitiesforitscitizens.Technology,Innovation,andEntrepreneurshipareessentialcomponentsnecessarytobringdevelopmentandadditionalopportunitiestocommunities.Theeffectiveuseofscienceandtechnology,coupledwiththecreativeabilityofinnovationwilltriggeracompetitiveadvantage.PromotingentrepreneurshipwithemphasisonTechnologyandInnovationisimportant.

Theremustbeabalancedstrivedbetweentheestablishmentofearlystageentrepreneurialactivityandthesupportoftheseenterprisesthroughexistingenterprisesandsupportstructures.Startupenterprisedevelopmentisdifficulttoachieveandtherearemanypreliminarychallengesfacedbysuchendeavors.Inordertoovercomethesedifficulties,theBusinessIncubatorcanestablishitselfasthebridgetosuccessforstartupsandentrepreneurs.Thus,theIncubatorcanserveasthevitallinktosustainablesuccesstothestartupandsmallenterprisesintheearlystages.

Figure1.BusinessIncubatorBridge

BusinessIncubatorsareanimportantandvitalcomponenttotheeconomicdevelopmentofcitiesandnationsaroundtheworld.Notonlydotheypromotethegrowthofsmallbusinessandenterprise,theyalsoserveasacontributortotheoveralleconomichealthoftheeconomy.Promotionofsmallenterprisethroughbusinessincubatorshasbeenshowntoincreasethenumberofjobs,increasetheamountofmoneyraisedbygovernmentsthroughtaxation,occupymorerealestate,addvaluetotheeconomicinfrastructureofthecommunity,andhelpcreateadditionalemploymentinothersectors.

Figure2.BusinessIncubatorDevelopmentCycle

Introduction


Incubatorsneedclearguidelines,roles,andexpectationswithregardtothestructureofthebusinessincubator.Thereisnocleardefinitionforsuccessoftheincubatorandmanylacktheexperienceofsupportingentrepreneursoveralongperiodoftime.Itisnotaneasytasktoidentifytheconditionsanddirectivesnecessarytosupportenterprises,inashortamountoftime.

SmallandMediumEnterprise(SME)proportioninKorearepresented99.9%oftheentireenterprisesystem.Thepercentageoftheworkforceemployedbysmallbusinessesin2012was87.7%.(2012,SmallandMediumBusinessAdministration)SmallenterprisesareavitalcomponenttotheeconomichealthofSouthKorea.Astheemphasisoninnovationandadaptabilitycharacteristicsgrows,theimportanceofsmallandmidsizeventurecompaniesincreases.

Figure3.SMEpercentages—2012SmallandMediumBusinessAdministration

ThegovernmentismakingmanyeffortsforthedevelopmentofSMEsinKoreaandthehighlightedkeyfactorforthenation’seconomicgrowthistheactivitiesofsmallbusinessandstart-ups.Theactivationoftheseactivitiesbringsemploymentgrowthandincreasedtechnologyimplementation.But,duetothebarrierstoentry,thegeneralresultisthatactivationdidnothappeninthepastthewayitwashoped.ThegovernmenthasdevelopedpoliciesandstartedtodevoteitsresourcestosuccessfulmeansandtowardstheBusinessIncubator.

ThebasisoftheBusinessIncubatorprojectofthegovernmentinKoreawastoenhancethesuccessrateoftechnology-basedandrelatedstart-upfirms.AccordingtoArticle2,Paragraph6oftheSmallandMediumEnterpriseEstablishmentAct,theBusinessIncubatorprovidesfacilitiesandspace,jointresearchanddevelopment,guidanceandadvice,financialsupportandplacement,managementandaccounting,andtaxandlawservices.Thesesupportfunctionsarerequiredforthegrowthandlaunchofsmallenterprises.

Figure3.GeneralSupportFunctionsoftheBusinessIncubator

AccordingArticle2,Paragraph7ofSmallandMediumEnterpriseEstablishmentAct,toenhancetheabilityof

Overview


start-upfoundersandentrepreneursandtheirmanagementandtechnology,theincubatorshouldallowtheenterprisetoputtheirprimaryfocusondevelopingtheirproductortechnology.Thisensuresthattheincubatorisprimarilyconcernedwiththebarrierstoentryassociatedwithsuccess,suchasfinancing,feasibility,andaccesstophysicalfacilitiesnecessarytobusinessfunction.Withthesupportoftheincubator,therisktothestart-upandenterpriseisreducedandseamlesstransitiontogrowthcanbeaccomplished.Bypromotingthegrowthofthestart-upandsmallenterprise,theprimaryresultoftheincubatorbecomestoincreasethesuccessrateoftheassociatedenterprises.

Thebasicfunctionfromthenameofbusinessincubatorsisto“hatch”inanenriched,controlledenvironment.Thesuccessfuldevelopmentofenterprisesrequiresanincubatortobuildaninfrastructureandmaintaincontrolledconditionsthatallowbusinessesto“hatch”.Thisrequirespropercoordinationforentrepreneursbetweenvariousorganizations,universities,publicresearch,localgovernment,andprivatesectorinstitutions.Theseinstitutionsmustcollaboratetoprovidethebenefitsandservicesthatwillbetterthesuccessrateandenhancetheviabilityofsmallenterpriseandstart-ups.Thebusinessincubatorwillfunctiontoharnessthefullfunctionofallresourcesnecessaryforenterprisesuccess.

ThegoaloftheKoreangovernment’spromotionoftheBusinessIncubatoristopromotethecommercializationofinnovation,newbusinesscreation,increasedemployment,andamorehighlyskilledworkforce.

Figure5.KoreanGovernmentGoalsinPromotingBusinessIncubators

Background


ThefunctionoftheBusinessIncubatoristodevelopentrepreneursandbringtogetherthevariouscomponentsofthesmallenterpriseandstart-upecosystemintoafocusedcenterwhereresourcescancollideandtheeconomicdevelopmentofthecommunitycantakeplace.Fromthefigureshownbelow,entrepreneurscancomefromvarioussourcessuchasuniversities,companies,andsocietalorganizations.Theybringskillsandattributesfromtheirexperiencesthatmakethemabletoformacompetitiveenterprise.Also,thereshouldbeincentivestotheentrepreneurstotakerisksandinvesttheirtime,energy,andwealthintotheenterprise.Ontheotherside,theBusinessIncubatorcanbeoperatedbyseveraldifferenttypesofoperators.Theyprovidethelevelofsupportandeffectiveservicesthatwillbringvaluetotheentrepreneurs.Asaresult,theeconomiceffectscanberealizedinthecommunityandbeyond.

Figure6.BusinessIncubatorFunctions

AswestarttolookatthecurrentbusinessincubatorecosysteminKorea,itisimportanttodifferentiatebetweenthetypesandfunctionsofdifferentbusinessincubatoroperatorswithinKorea.ThefollowingchartprovidesadetaileddescriptionofcurrentmodelsandfactorsinthestructureofincubationfoundinKorea.Incubatorscanbemanagedbydifferentagenciesandfunctionwithanentirelydifferentsetofvaluesandprinciples.Theseclassificationshelptounderstandthebackgroundandmotivationsforbusinessincubatorsastheyseektohelpenterprises.

Figure7.BreakdownoftheStructureandClassificationsofBusinessIncubatorsinKorea


Structure Category Characteristics and ProfileFounded by the central government / local governments and public institutionsFocused on job creation and economic diversification of the economyPrimary target is expanding the tax baseEstablished by Universities and Research InstitutionsFocused on the transfer of technology and commercialization of researchTarget is to strengthen and commercialize University revenuesContribute to the enhancement of the institution's image in the communityFinding research grant opportunities in cooperationProviding entrepreneurship opportunities for graduates and facultyOperated by Individuals and Private Companies as a business investmentSeeking profit and the structuring of companies to produce profitInvestments in technologies and to secure technology, real estate development purposesMore than 70% of the resident enterprises have a specific area or specific targetSecured through Small Business Administration for a specific area of incubation The use of specialized services, depending on the growth stage of the enterpriseIndustry professionals needed to ensure proper supportTargeting a wide range of industries and specialtiesProfessional managers need to have general management capacity for a wide rangeThe accumulation of human capital, technology and equipment advantage of the universitySuitable for the cultivation of high-tech industryEarliest possible commercialization of research resultsEasy access to amenities and proper facilit iesMarket proximity and marketing advantageProximity to indigenous resources nearbyExpenses are relatively inexpensive, such as space occupancy feesFaithful to the established objectives and policies of the operations centerSpecialized support services, eligible to focus on specific sectorsPolicies reflect the operational support agencyPublic interest can be excluded to the operating profit of the institution

Public

Private

Management

Business Incubator Classifications in Korea

Operational Support

Self-Reliant Center

Non-Self-Reliant Center

Non-Specialized Center

Universities and Research Institutions

Specialized Center

Specialization

Rural-area Center

Urban Center

University-related Center

Geographical Location

Objectives


TheobjectivesofthisreportaretomakeclearthespecificoperationalstructureoftheBusinessIncubatorinKoreaandthedifferentaspectsoftheKoreanincubatorecosystem.TheBusinessIncubatorinKoreashouldhavespecificoperationalobjectivestofitthecircumstancesofitsoperationalobjectives.Itmustspecificallybeoperatedinaccordancewiththesystemdesignandoperatingstrategy.Theinvolvementofmultiplestakeholdersandpartiesnecessitatesspecificgoalstopursue.Therecanbevarioussettingsandcategoriesofincubators,intermsofeconomicdevelopment,technologycommercialization,profitability,andenhancementofentrepreneurship.First,thepriorityshouldbetocreatenewbusinessfromthestandpointofeconomicdevelopment,employment,industrialadvancement,revitalizationofthelocaleconomy,andsolvingeconomicproblems.Objectivescanbesettodeterminesuccessfulimplementation.Thesecondobjectiveistocommercializethenewtechnologybeingformedinuniversitiesandresearchcenters.IncubationofnewtechnologiesthroughtheBusinessIncubatorcenterneedstargetstonurturepromisingtechnologyandinnovationthatleadstocommercializationandprofitablebusinessmodels.Thirdly,fromthestandpointofprofitgeneration,incubatorscanseektoachieveanoperatingprofitfortheiractivities.Finally,theactivationofentrepreneurshipthroughassociationwiththeBusinessIncubationcenterintothecommunity.Forexample,abusinessincubatorestablishedbyaUniversitycanhaveanimpactonthecommunity’sinvolvementinstart-ups.Thesuccessfulcommercializationofideasfromprofessorsandstudentsmaybringaboutanincreasedinterestinstart-upandsmallenterprise.

Figure8.OperationalObjectivesoftheKoreanBusinessIncubatorTheoperatingstrategyoftheBusinessIncubatoristofocusonthegrowthofenteringcompaniesthroughtheprovisionofvarioussupportservices.Theseservicesincludetheprovisionofthosecompaniesthatactivatethelocaleconomythroughtheuseofexistingbuildingsandspaces.InKorea,BusinessIncubatorsstartedwiththefirststrategytostimulatetheeconomyasanobjective,butgraduallymovedtothesecondstrategyfocusedoncorporatedevelopment.Thisisimportantinsecuringstart-upandsmallenterprisesuccessrateandself-relianceforthefuture.Intheoperationofbusinessincubators,therewillneedtobeastrategyforthemutualdevelopmentofbothenterprisesandbusinessincubators.Incubatorsshouldnotgenerateprofitonlybyenterprisesthatmoveintoexistingspace.Iftheenterpriseperformsparticularlywell,theincubatorshouldbenefitaswell.Asanexample,universitiesthatoperateanincubatorcangetseveralbenefits.Theyenhancethesocialcontributionoftheuniversitywhenasubjectperformswellthroughtheprogram.Theycanalsoenhancethesocialcontributionofuniversitiesbyutilizingthespace,technology,equipment,anduniversityresourcestosupportSMEs.Throughthis,awarenesstothecommunityoutsidethattheresearchactivitiesoftheuniversity


createdthecommercialtechnologies,whichcanincreasetheresearchfundingfromoutsidesources.Inaddition,theprofessorsoftheuniversityorthestudents,orgraduatesalsoreceiveincreasedopportunitiesthroughbusinessincubation.

Figure9.KoreanIncubatorHistory-1991—2014

KoreanBusinessIncubationDevelopmentHistoryYear RelevantHistoricalData

1991EstablishedthefirstlawforoperatingBusinessIncubators

MinistryofCommerce,IndustryandEnergystartstodevelopsupportsystem

1993 YoungdongBusinessIncubatorestablished,thefirstprivateBusinessIncubatorinKorea

1994

SmallandMediumBusinessCorporationDivisionofMinistryofTrade,IndustryandEnergyMinistryopensgovernmentoperatedAnsanBusinessIncubator

MinistryofScienceandTechnologystartsTechnologyBusinessIncubator

1996

SmallandMediumBusinessAdministrationgovernmentagencyopened

MinistryofInformationandCommunicationstartsSoftwareBusinessIncubatorprogramsupport

CityofSeoul,SouthChungcheongProvincestartBusinessIncubators

1997

MinistryofInformationandCommunicationstartsUniversityITBusinessIncubator

MinistryofCommerce,IndustryandEnergyestablishestechnologypark

SpecialLawpassesforthepromotionofventurecompanies

1998 SmallandMediumBusinessAdministrationexpandsBusinessIncubatorprogram

2000MinistryofCulture,SportsandTourismstartsBusinessIncubatorprogram

SmallandMediumBusinessAdministrationdevelopsinformationwebsiteforstart-ups

2001 MinistryofEnvironmentstartsBusinessIncubatorprogram

Figure9.KoreanIncubatorHistory-1991—2014-Continued

KoreanBusinessIncubationDevelopmentHistory

HistoryofKoreanBusinessIncubators


Year RelevantHistoricalData

2002 Announcementandspecialmeasuresmadeforventurecompanies

20035YearPlanestablishedforhowtoactivatestart-upcompanies

MinistryofNationalDefencestartsBusinessIncubator

2005GovernmentalmeetingforeconomicpolicyonBusinessIncubators

SmallandMediumBusinessAdministrationmergesdivisionsandmanagestogether

2006 StoppeddesignationofnewBusinessIncubators,Supportcenterexpansion

2007Expanded10yearoldspeciallawpromotingventurecompanies

SmallandMediumBusinessAdministrationpresentation:"ActivationoftheBusinessIncubator"

2008 KoreaInstituteofStartup&EntrepreneurshipDevelopmentestablished

2009NewBusinessIncubatorestablishedforHealthcare,GreenTechnology

All9ministriesmadestrategy"howtoactivatetechbasedstartup"

2011KoreaBusinessIncubatorAssociationestablished

AnotherSmallandMediumBusinessAdministrationpresentation:"ActivationoftheBusinessIncubator"

2014

Thereare282BusinessIncubatorsAppointedbySmallandMediumBusinessAssociation

209universities,25labs,5runbySME,18provinces,and25others

Fromthischart,itiscleartoseethattheBusinessIncubatorhasdevelopedoverathepast25years.Thereareafewnotesfromthechartthatdevelop.TherearevariousgovernmentalagenciesthathavetriedtostartandoperateBusinessIncubatorsthroughoutthehistorytomixedlevelsofsuccess.Therewereover11differentagenciesofgovernment,including9nationalagencies,tooperatebusinessincubatorsinKorea,eachoperatingwithdifferentmanagementteamsandobjectives.Thisseemstoindicatethescatteredapproachofthegovernmentagencieswasineffectiveatcollaborationandsharingresources.Also,fromthecurrentnumbersin2014,itisclearthatthevastmajorityofBusinessIncubatorsinKoreaarenowrunbyuniversitiesandinstitutes.Businessincubatorsthatformoutofuniversitiestendtobegearedfortechnologybasedstart-upsandenterprises,Thisalsotargetsthestudents,graduates,andalumnioftheuniversities,agenerallyyoungertargetthattheoverallecosystemoftheKoreanenterprisesystem.Inordertounderstandthepurposeofestablishmentofbusinessincubators,setthebusinessscope,findthepurposeandroleforincubators,thereshouldbeanoperatingsystemforthebestwayoperatetheincubator.

IncubatorStructure&OperatingSystem


The“BusinessIncubator”isreferredtointhe“IncubatorOperationalRegulations”policyofSmallandMediumBusinessCorporationasthefacilityandorganizationintendedforthedevelopmentforstart-upsandsmallenterprise.TheIncubatorprovidesfundingsupport,networking,management,guidance,growthconsultation,jointresearchanddevelopment,accounting,andlegalservices.TheIncubatoroperatingsystemisbasicallythemodelwithafocusonthecomponentsoftheprocessandthegoalsandstrategies.Abasicmodelcanbedescribedintwodimensionswiththreebasicelements:theincubator,enterprise,andtheinvestor.Therelationshipbetweenthoseelementsisdescribedinthechartbelow.

Figure10.BasicModeloftheIncubatorOperatingSystem

Theoperatorismanagingthebusinessincubatorcentertoperformtheactualbusinessincubatoroperation,providingthenecessaryservicestostart-upsandenterprises.Theoperatorsofthebusinessincubatorsreceivefinancialsupportfrominvestorsintothebusinessincubators.Thestart-upandsmallenterprisesarethecompaniesthatcancontributetoregionalornationaleconomicdevelopmentandbringinnovationtothecommunity.Theinvestorcomponentoftheoperatingsystemisthecentralandlocalgovernments,colleges,ChamberofCommerce,theprivateenterprises,etc.thatsupporttheoperationwithfundingandbuildtheIncubatorcenter.TheInvestorsupportsactivitiesrelatedtostart-upsandsmallbusinessesandoverseestheBusinessIncubatorCenterthroughtheoperationoftheSupervisoryCommittee.Andtheseinvestorsareexpectingmacroscopiceffects,suchasstimulatingtheeconomyiftheinvestorispubliclyfinanced,orinthecaseofprivateinvestorsbyholdingequityofpromisingcompaniesandexpectingtheproceedsoffuturedividendsorequitysale.

Theprocessmodelofabusinessincubator’soperatingsystemcanbedifferent,sodifferentcharacteristicsexistdependingontheestablishedobjectiveandphysicallocation.YoucanseetheIncubatoroperatingsystemthroughthelensoftheobjectivesandstrategy.TheIncubatoroperatingsystemisintendedtodefinetherelationshipbetweenandthefactorsthataffectthebasicoperationalactivitiesoftheIncubatorenterprises.


Themainelementsoftheoperationcanbedividedintofivecategoriesincludingmanagementpolicies,organizationalstructure,resources,supportservices,andoutsideconnections.Theseelementsareinfluencedbyoperationalobjectivesandstrategiesofbusinessincubators(Figure11).ThemainselectionoftheIncubatorenterprisesandstart-upsareinfluencedbythefactors(includingwhetherthereissectorselectionorcharacterizationoftheincubator),supportutilizingitsresources,andguidedgraduationandaftergraduationsupport.

Figure11.Incubatoroperatingsystemcomponentsandcharacteristics

Figure12.CurrentBusinessIncubatorStructureDiagram


TenantOccupancyManagementTenant—TheresidentgraduationprocessofmanagementisdistinguishedbyaseriesofprocessesleadingtothegraduationofthetenantsfromtheBusinessIncubationCenter.Theprocessesconsistofenteringthecenter,beingincubatedandgraduatingtodifferentiatebetweentheprocesses.(1)TenantEntranceProcessManagement:<RecruitmentProcedure>→<SelectionProcessandCriteria>→

<TenantApprovalandContract>→<IncubationandBusinessDevelopmentFundManagementAgreement>

(2)IncubationProcessManagement:<BusinessPlanMapping>→<EnterpriseProgressAssessment>→<EnterpriseCommercializationSupport>→<EducationPrograms>→<EnterprisePerformanceManagement>

(3)GraduationProcessManagement:<GraduationExitClassification>→<GraduationProcedure>→<"ManagementafterGraduation>

Figure13.TypesofManagementintheBusinessIncubator

IncubatorManagementOverview


TheprocessforcompaniesforenteringtheBusinessIncubatorandgraduatinghasmultiplelevels.First,theprocessfortheselectionoftenantstoentertheBusinessIncubatorcanbedescribed.

Figure14.SelectionProcessforIncomingBusinessIncubatorTenants

RecruitmentPlan:FortherecruitmentoftenantcompaniestoentertheBusinessIncubator,theremustbeanestablishedrecruitmentplan.Inaccordancewiththeoccupancylevelsofthecenter,thereshouldberegularandspecialrecruitingannouncementsplanned,established,andutilized.

(1)RegularRecruitment:1-2timesperyeararecruitmentplanshouldbeestablishedandexecuted.WhentheBusinessIncubatorcenterplanstheimplementationoftherecruitmentplan,thescheduleshouldbesetaswell.

IncubatorManagement—EntranceProcess


(2)SpecialRecruitment:InaccordancewiththeneedsofoccupancyoftheBusinessIncubatorcenter,thereshallbespecialrecruitmentplans.Ifvacancyoccursaboveaspecifiedlevel,thereshouldbearecruitmentdriveexecuted.IfatenantcompanyisrecruitedandacceptedbytheBusinessIncubatorandnovacancyexists,thetermsshallbedrawnuponlywhenavacancyexistsinthecenter.

PublicRecruitingAnnouncement:AnannouncementthattheBusinessIncubatorisrecruitingqualifiedtenantsshallbemade,alongwithdetailsofthespace,rentalcharges,andmajorsupportservicesofferedbythecenter.Therecruitingmethodisconductedusingvarioussources.

• BusinessIncubatorCenternewsletterandwebsite• Governmentagencywebsites• BusinessIncubatorAssociationwebsites• DailynewspapersandBroadcastMedia• GovernmentAgencyCenters

TenantApplicationsReceived:(1)TheapplicationisdownloadedbythetenantfromtheBusinessIncubatorCenterwebsite.(2)Theapplicationmaybefiledbymailoremail,orbyvisitingthecenter.(3)Iftenantapplicationshasbeenreceivedandnorelevantinformationhasbeenomittedormissedbythe

applicant,thereisareviewtodeterminewhetherrequirementswhichhavebeendescribedaremetbytheapplication.Additionallocationinformationandscheduleisgiventotheapplicant.

(4)Inthepre-interviewscreeningreview,amanagerconductsandpreliminaryscreeningofthetenant,thebusinessplansubmitted,andthesupportingdocumentspresentedwiththeapplication.Therequirementsoftheplanandproperbusinessinformationmustbeidentifiedwithintheapplicationbeforedeterminingwhethertheapplicantshalladvancethenextphaseoftheprocess.AnintroductionofthecenterandaBIcentermaybeinspectedbytheapplicant.

(5)Thetenantapplicationshouldhavethesecriteria:• Thestart-uporsmallenterpriseshallhavebeenestablishedinthe3yearspriortotheapplicationandnolongerthan3years.• ThetargetedsectorfortheBusinessIncubatormaybedifferentdependingonthetargetsandgoalsoftheoperationplan.• TheBusinessIncubatorshalldeterminethetargetedentrepreneursforthecenterforbusinessdevelopment.Forexample—Seniorcitizens,YouthandStudents,Women,Universityassociatedindividuals,etc.

TenantApplicationScreeningProcess:ThereisadocumentreviewtodeterminewhetherthecontentsandaccompanyingdocumentsincludedintheapplicationmeettherequirementsforentryintotheBusinessIncubator.Theoccupancyrequirements,thecompanydateoffoundation,therepresentativesandparticipationofemployees,financialcondition,financialstatus,etc.arechecked.ThetenantandsubmittedinformationshouldbeobjectivelycheckedbytheBusinessIncubatorandinformationindependentlyverified.ThechecklistforsuchinformationisfoundinFigure15.Theprimarypurposeofthescreeningprocesstodeterminewhetherthebasicrequirementsaremetbytheapplicantandtheeligibilitysetoutintheoperationalstandardsisensured.

Figure15.ApplicationDocumentsandDataReview


FinalPresentationScreeningScheduleAnnouncement:Anannouncementismadeforapplicantsandtheyarenotifiedviaemailwiththedetermination,aswellasthescheduleforthefinalpresentation.Theyshouldbegivenat5daysnoticebeforemakingthefinalpresentation.Inaddition,presentationfilesshouldbesubmittedinadvancetosubmitbeforethedatethepresentation.TheBusinessIncubatorprovidesthebusinessplaninadvancetothejudgesbyemail.Theconfidentialinformationsuchascompanyname,nameofrepresentativesandparticipatoryworkforce,contactdetails,socialsecuritynumbersshouldbecarefullyomittedtoensureimpartialityandlegalcompliance.Theappointedjudgesmustsignaswornstatementthattheywillnotleakthepersonalinformationorbusinessitemssuchasacquisitionandcorporatestatusinthereviewprocessandthattheywillnotuseinformationforotherpurposesorpersonalpurposes.FinalPresentationReview:TheBusinessIncubatoradvancestothepresentationscreeningfortheselectionoftenantsinthecenter.(1)Thepresentationsforthecommitteecanbescheduledduringanytimeoftherecruitmentwith

presentationspresentedtogetherorseparatelytoaccommodatetheparticipationofcommitteemembersintheprocess.

(2)Thereviewprocessisannouncedtotheparticipants.Thepreliminaryinformationisreleasedtothejudgesandthetenantapplicantshave10-15minutestointroducethecompanyandbusinessplan.Afterthistimeiscompleted,thereisa5-10minuteQuestionandAnswersession.

(3)ScreeningDecision:theBusinessIncubatorcentercollectstheresultsfromthepresentation,organizesthisinformation,anddetermineswhethertomoveforwardwiththetenant.

TenantSelectionandContractSigning:TheBusinessIncubatornotifiestheresulttothetenantsafterthescreeningprocessisfinalized.Theprocessmovesforwardandgeneralinformationoftheoccupancyagreementiscollected:(1)PeriodofOccupancy(2)Spaceentering(3)Tenantoccupancyanddepositfees(4)BusinessIncubatordevelopmentfundsdesignatedforTenantsupport(5)CenterLocationInformation(Ex.—Parkingpermits,licenses,etc.)TheBusinessIncubatorCenterandthetenantsignthecontract.Thecontractdescribesthetenantoccupancyperiod,theobjectsoftheagreements,andthedefaultcontributionsofeachparty.Theoccupancyagreementshouldensurethatthepartiestothewrittencontractshalleachtwocontractcopieseachtomanagefilestorage.Legalpartyrepresentativesonbusinessregistration(legalentity)shouldbenamedandconsulted.Thediscussionconcerningtheimplementationofthecontractandmatterslistedinthecontractmustbeguaranteed.TherequirementsofthetenantresponsibilitiesmustbedescribedtoinsuretheimplementationbythetenantandtheresponsibilitiesoftheBusinessIncubator,aswell.Thenegotiationsinthecontractmustbefaithfullymaintained.


Figure16.ContractAgreementInformationDescriptionList

Oncethecontractissigned,thetenantapplicantshallmoveinonthegivenoccupancydate.AfterenteringtheBusinessIncubator,theyshouldbeequippedwithvariousdocumentsrelatedtobeingatenant,suchcomputerdataentrytheabilitytosubmitdatatocreate,modifyandmoveintheeventofachangeofdetailsinthecompanymaintains.TheBusinessIncubatorsupportsthegrowthofthetenantenteringtheBusinessIncubatorthroughavarietyofmethodsduringtheperiodofoccupancy.

Figure17.BusinessIncubatorProcessManagementDetails

IncubatorOccupantManagement

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