Incubator is not a new concept as it has been around for decades now. A concept that started from the Silicon Valley, California to help, support and encourage entrepreneurs. In 1980, there were only 12 incubators in United States. Today, incubators around the globe are increasing by a huge number. Many of us might have heard about incubators in some way or the other. In simple words, an incubator helps hatch a chicken or keep a newborn baby warm. This is the simplest definition of an incubator. Similarly, there are business incubators that help and support new ideas.
The story of Copper Mobile Incubator started with the vision of Arvind Sarin which was to not just develop apps but to develop ideas and nurture them, to create an impact in the society which will be long lasting. He wanted to bring an idea which people really need or are looking for.
This vision led to the birth of Copper Mobile Incubator. We as an incubator wanted to help new emerging startups with passion, technological advancements and ambitious entrepreneurs to step foot in the industry. We create an environment for their idea(baby) to grow. Build around their innovative ideas to ignite the IT industry.
Arvind back in 2015, started Coppers incubation chapter at its Indian operations setup. We are taking a step forward in crafting technology that can make a dent in the market – what can be more exciting? With years of experience in prototyping, software development, design and mobile applications, Copper Mobile is fully prepared to help you make an impact in the IT industry.
A step to support and encourage entrepreneurs around the globe by logistically supporting them in their early stages. A tech company with a cross domain expertise, Copper Mobile makes an ideal development partner for ambitious entrepreneurs stepping foot in the industry.
Copper Mobile played a similar role for many startups in India and therefore comes under the business incubator category which is setup to reduce the chances of failure in the early stage and provide financial viability and growth to the startup. Therefore, Copper incubator was set up to create strong and sustainable support system for entrepreneurs to guide them and start them off in their journey to success.
Anyone who has worked in a startup would know the hurdles that come up in the early stages and would recognize support and resources that are required to surpass these hurdles. We can also say that the heart of an incubator therefore, is the start-up. At Copper Incubator, our selection procedure for the incubator starts with the fulfilling the following requirements.
What are we looking for:
- Potential market audience
- Founding team: passionate and be able to execute
- Technological advantage over the others
- Ability to execute
We further proceed by investing time and money in a feasibility study that help us in determining whether the startup has a solid market, sound financial base and strong community support- all of which are very important factors in an incubator’s success.
It is only if you pass the feasibility test that your idea becomes a part of our incubator. The Copper Incubator provides the necessary funding and logistic support to your idea by being both the host and the funding organization.
As the host organization, we provide the necessary infrastructure support to help you grow. We initiate, host and nurture the incubator to help you attain full form and maturity. Our primary goal is to create a healthy working environment for your startup. As the funding organization, we fund the development of your startup by providing full technical support through the early stages (We will discuss about the funding in upcoming blogs).
However, there is a constant need for measuring the performance to study the long term results and impact. It is rather necessary to know whether there will be an adequate impact from the investment as-
- It helps us in tracking critical developmental milestones as well as take timely decisions regarding further funding or additional support.
- Metrics and milestones serve as a guideline for development and provide both motivation and incentives to work towards outcomes and impact. It also helps us as the host institution to understand what you are committing to and whether or not you are ready to venture into the space.
Further, we will be discussing about the funding options that we offer and about the various startups that Copper Incubator has funded in the upcoming blogs.
To be continued…