In this blog post, we will be discussing our incubation application process in addition to the benefits of embarking on the incubation programme, which include the valuable partnerships that will be forged, access and use of our incubation centre and facilitated access to state-of-the-art industry testing facilities on a commercial basis.
Business Incubatee Journey
1. Application Process – Apply by 30th June
- Decide on an initial business idea.
- Complete the application for Business Incubation. Click here to apply now.
- Submit the application to be reviewed by the Westcott BIC team.
Top Tips for a Good Westcott BIC Incubation
- Start-up Personal Assessment – Demonstrate why you are interested in joining the Westcott BIC community and how you will benefit from the support you’ll be offered. Highlight the strengths and weaknesses of your start-up and what you would like to achieve from becoming a Westcott BIC Incubatee.
- Detailed Proposal – Provide as much information as possible to ensure the Westcott BIC team has a great understanding of your unique business proposition.
- Experience – Discuss the background experience of the various team members and how that will contribute to business growth and development. Make sure to include the technical and commercial skillsets of your team members.
- Commercial Potential – Demonstrating that your business idea is commercially viable will help to strengthen your business application.
2. Selection Process – This process usually takes one month after the deadline has passed, then we will let you know if your application has been successful
- Pre-filtering of applications based on ERDF eligibility criteria.
- Evaluation of applications by a panel of experts.
- Invitation to a pitch if selected.
- Offer letter to selected candidates.
3. Incubatee Process & Benefits – Support throughout 2020 and beyond
- Support – Start-up business support package including mentorship from space sector specialists and business sprints to accelerate the growth of your company. Incubatees receive 12 hours of specialised business support.
- Community – Access to industry and academic networks giving you the opportunity to discover further funding opportunities, collaborations and partnerships.
- Facilities – Access to sociable office space.
- Networking – Regular networking with other innovative space professionals in the office as well as across the campus at the monthly Space Innovators networking events. These events give you the opportunity to find out more about a space sector opportunity from an industry expert.
Here at Westcott, there are facilities that can help businesses to design, manufacture and operate their technology. These testing facilities are useful for developing 5G applications, building drone and autonomous systems and engineering rocket propulsion technologies.
Westcott Space Cluster
The Westcott Space Cluster is home to a variety of space organisations. Ten businesses are current incubatees at the Westcott BIC and four companies have successfully completed the incubation programme. Take a look at their case studies for an idea of their experience of working at the Westcott BIC. Furthermore, the community of space companies is growing rapidly at Westcott with plans to make the venture park an integral part of the UK space sector growth strategy. The campus will be scaled over the next few years into an enterprise hub for space companies. Therefore, joining the Westcott BIC early on will provide incredible new opportunities that will be highly valuable in the long term.
In addition to the above benefits, the Westcott BIC works with a variety of partners that can help support your business. These include the UK Space Agency, Satellite Applications Catapult, Buckinghamshire Local Enterprise Partnership and European Union Regional Development Fund.
If your business is innovating with 5G communications, space propulsion or autonomous systems, make sure to get in touch and apply now. Applications are open to join the Westcott BIC and receive start-up business support.
Click here to find out more and apply. The deadline for Applications is the 30th June 2020 (Research Grants are also available, but this requires interested parties to apply through a separate application process).