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Incubation Programs

Incubation Programs

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Published by Kara Swisher

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Published by: Kara Swisher on Sep 07, 2010
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09/22/2010

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Incubation Programs of Innovation Works
Innovation Works has designed three incubation programs, which aim at differentstages for start-up entrepreneurs who seek to start their businesses in the areas of Mobile Internet, Consumer Internet, E-commerce and Cloud Computing: 
 
A
cceleration Program----the core incubation program: aiming at experiencedstart-up teams with a clear business plan, product model, and core members.
 
 
J
ump-Start Program----the basic and systematic incubation program: aiming atyoung start-up entrepreneurs with innovative commercial ideas but littleexperience.
 
Entrepreneur-in-Residence (³EIR´) Program----the incubation program for certain individual start-up entrepreneurs: aiming at exceptionally talented professionals with rich industry experience and the drive to start their own new business.
A
t IW we have brought in the best early-stage-minded professionals to give youand your team support in many ways. IW will use its unique industry network andresources to help you form the best start-up team, find strategic partners and developyour target market. You can count on the expertise of the professional business teamat IW to assist you in strengthening your product strategy and business plan withacute business senses and global view established on Chinese market. We have alsocreated an extensive and authoritative network of mentors that is available to you andyour teams. In addition to all these, IW will also give you support in product issues, inlegal and accounting matters and in other ways to assist you in avoiding the risk inearly stage. Everyone at IW is ready to help you get rapidly and soundly started for the long road ahead.Furthermore, IW will provide you and your team with working space in a greatstart-up environment and some seed funding. It will also open the door for you to theearly stage investment community in China and abroad, including IW¶s own captivefund and Innovation Works Development Fund (IWDF).Once we are in, we are in it for the lifetime of the company, fully aligned with theinterests of start-up entrepreneurs and their team. While we will help you get startedin a lean and efficient way with real assistance as well as guidance and advice, youand your team will still need to take the lead and be involved in all day-to-dayoperational matters of your company.In order to preserve the quality of incubation and the personal nature in our start-up environment, every year IW will be incubating a limited total number of 
 
 
start-ups in its three programs. We will only bring in Founders and project teams thatwork very well with each other, that can demonstrate their ability to build great products and services, that have good business sense and that understand their targetmarket(s).
A
 bove all we want to work with start-up entrepreneurs and project teamsthat are passionate but humble, persistent but patient and committed for the long roadahead, as start-ups are indeed a marathon race, not a 100m sprint.
 
Acceleration Program
 Acceleration is IW¶s main incubation program (6 months), aiming at assisting experienced Founders to speed-up their start-ups and hence create the next  generation of successful Chinese consumer internet, mobile internet and cloud computing start-ups.
Who is it for?
A
cceleration has been designed for experienced Founders, with clear leadership skillsand a solid industry background, relevant to their start-up product / service idea. TheFounders can be first-time or serial entrepreneurs. Beyond the Founders, we expect asmall, initial core product team to be in place and to be able to demonstrate a prototype of the product / service at this early stage. We also expect the team to have aclear vision on the product development roadmap, no matter how this may change inthe future. The Founders also need to demonstrate that they have clearly identifiedand understand their high-growth potential target market and how to achieve earlyuser acquisition in it.
What can you expect?Incubation Services
y
 
You and your team will be based at IW¶s incubator;
y
 
In terms of recruiting assistance, you will have access to our extensive HR database of top engineers¶ application pool, campus recruitment and interns¶ pool, including assistance with screening and interview arrangements;
 
y
 
IW will provide you and your project team with company registration andgeneral legal counsel, accounting guidance, UI/UX resources, usabilityevaluation for products, user testing, market research, public relations planning advice, and introductions of potential partners with high-value etc.;
 
y
 
You will also have a unique chance to participate in a wide range of mentoringsessions conducted by distinguished guests and local or international expertsin their field, in a wide range of technology/product and business-related
 
 
topics.
F
unding
y
 
On top of the resources we will also be seed funding your project, with thefinal amount to be determined on a case-by-case basis, depending on thespecific project¶s budget which you will prepare and submit to us. In exchangeof the incubation services and seed funding provided, IW will become anon-intrusive, minority co-founder in your company.
y
 
Following ³graduation´ from the program, you and your project team will be part of the exclusive IW start-up community and continue to benefit from IW¶snetwork and all the supporting activities that we have in store for you.You can expect to experience all these services and know-how to be given to you inwhat is a unique start-up environment, where you will also benefit enormously fromthe day-to-day interaction with the other start-up teams, your fellow entrepreneurs and project team peers. Upon the completion of the program, IW will present it to theIWDF and other domestic and foreign investors and early stage investment team, andstrive to get the next round of financing.
A
t the moment, application to the
A
cceleration program is by invitation only.
 
Jump-Start Program
 J 
ump-Start is IW¶s structured start-up foundational program (3 months), aiming at  grooming the next generation of young Chinese entrepreneurs in the consumer internet, mobile internet, e-commerce and cloud computing space, and assisting them in speeding-up their start-ups with a range of mentoring and incubationservices.
Who is it for?
J
ump-Start has been designed predominantly for young first-time entrepreneurs, withexceptional talent in technology and designing products but with little prior workingexperience.
J
ump-Start is a program for small teams of two to four Founders with justan initial idea to build an exciting product or service in one of the program¶s focustopics. The Founders will ideally have a Master¶s degree in a related subject and some(part-time or full-time) work experience as they will need to demonstrate their technology and product skills through previous related team or individual work. Theywill also need to show that their product or service idea can develop into a businessthat is addressing the need of a high-growth potential target market.

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