Incubators have become an increasingly important part of the tech startup scene in recent years.
As a startup you may lack many resources, experience and networks. We at CIOT provide services which helps you get through initial hurdles in getting your product tested, design flaws straightened etc. We will provide you space, funding (based on certain criteria), legal and accounting (we use outside agencies) technical services and other prerequisites. Entrepreneurs who wish to enter a business incubation program must apply for admission. Acceptance criteria vary from program to program, but in general only those with feasible business ideas and a workable business plan are admitted.
These programs provide new entrepreneurs with mentorship, advice and practical training on technical, business and fundraising topics to help them get from idea to product to launch and beyond. It is a paid service. We also typically take a small piece of equity in exchange for a small amount of cash and entry into the program. Usually we’ll invest a certain amount in return for percentage of the company’s equity..
We make funding decisions based on our application form and personal interviews. We love demos, but we never read business plans. Also we do not fund startups that write software.