Supporting new business creation and growth via a combined package
Massive difference in risk profile of models where you are paid to deliver support versus models where you are betting on the success of the startups.
- Giving startups access to shared resources that lower their costs, alongside expert guidance and tailored support can greatly increase their chances of success
- Job creation, local production, and economic diversification can contribute to reducing brain drain and making communities more sustainable
- Creation of innovative solutions to local challenges
- Supporting startups around the creation of new products is a core objective for many makerspaces
- For this model to work it is necessary to build a pipeline of the right kind of startups that you can help, and of the mentors, industry experts, and investors who they will need to connect to.
- Fewer investors are interested in hardware startups and in environments where there is a severe lack of startup funding it can be incredibly difficult to help startups to find appropriate funding to enable growth.
Business model canvas
- Local businesses and industry experts and experienced mentors for specialized support.
- Investors or venture capital firms to connect startups with funding opportunities.
- Academic institutions or other organizations to foster innovation and skill development.
- Finding and attracting appropriate startups
- Building the skills of the entrepreneurs
- Connecting them with appropriate resources
- Deep expertise
- Well-equipped makerspace
- Networks of mentors, industry experts, and investors
- Expert mentorship and guidance from experienced professionals
- Access to a makerspace for prototyping and production
- Networking opportunities and access to funding.
- Community and collaboration with peers
- Personalized guidance even if following a standard curriculum.
- Building a strong and supportive community to foster lasting relationships
- Online platforms
- Events, workshops, and networking sessions
- Referrals from past or current startups
- Entrepreneurs and newly formed startups developing their product
- Young businesses growing their market and scaling up operations
- Private sector, government entities, or NGOs that want to support the creation and growth of startups
- Cost of staff time working to support the startups
- Equipment and facility maintenance costs.
- Marketing and promotional costs including running networking events
- Seed funding for startups if this is part of the model
- Service or membership fees: Charging startups directly for the services you offer
- Running support programs funded by other organizations that want to support startups
- Equity or profit-sharing agreements with startups in exchange for support