The incubator at FUNIC was set up for speeding up the growth and success of startups created by our students and alumni. The incubator provides registered members with the support they need to move from just idea generation to actually setting up businesses. We create links to potential funding sources, access to services such as accountants, investors and lawyers, not to mention invaluable coaching and networking connections through the staff and other entrepreneurs at the incubator.
Why we created the Incubator at FUNIC
FUNIC is built on an entrepreneurship foundation. The founder of FUNIC is a serial entrepreneur. Since its creation in 2014, FUNIC has developed numerous entrepreneurial activities that have awakened the desire for entrepreneurship among young people. Many amazing products have been created, and many investors attracted.
In 2019, we thought it was time to create a platform and space where these ideas could be hatched into profitable ventures, and where already existing ventures can be fine-tuned to scale. We created the incubator at FUNIC intentionally to support students’ ventures & their early leadership from seed-stage startup to a sustainable, disruptive, fundamentally sound business with real-world impact and profitability.
Our objectives:
The incubator at FUNIC is a resource available to all current students and alumni from any of FUNICS’s schools who are looking to explore innovation and entrepreneurship at any stage.
No matter what your entrepreneurship ideas are, we're here to help you. If you’re a FUNIC student at any level, your student registration number is your license to explore what the incubator can do for you. If you’re an alum, your incubation pass is the key to access and explore the incubator.
The incubator provides all the physical and intellectual resources current FUNIC students need to develop and grow, including one-to-one coaching, open co-working office space/hours with experts, and a competition with the potential to acquire startup capital.
If you are a current FUNIC student who has an idea of any size, at any stage of formation, or who just wants to explore innovation and entrepreneurship, the startup incubator is here for you.
How it is done:
Our incubation program is delivered in 3 phases:
Phase 1: Pre-Incubation
During this phase, students join FUNIC and study foundation courses in business and leadership for 4 months. This phase is crucial as it tickles students to see Entrepreneurship as a career option. They also learn the basic realities of working in teams and developing the right mindset/attitude to undertake the entrepreneurial journey.
Phase 2: Incubation
At this point we create teams and we’re focused on getting our teams ready to pitch to investors. Undergraduate students enter the Banknote challenge (until the end of August every year), while Post graduate students enter the E-Lab (for 6 weeks).
Phase 3: Delivery
At this point, Post graduate students deliver their E-Lab project to the incubator. This project can be run by the school or sold. Meanwhile, the projects run by the Undergraduate students are delivered to them. There will be a pitch/sales competition to determine which of the students retains the brand name if they so desire. If no student is interested in carrying on with the business, it can be handed back to the incubator.
Here is how to apply:
Click here and fill the application form
For general inquiries, e-mail: [email protected]