Vikasa International Center as center of excellence (CoE) offers integrated, customized Innovation-Based Incubation support services for potential high investable social entrepreneurs and enterprises. It scouts for innovative social entrepreneurs, builds on ideation leading to develop a business concepts, provides skills and competencies trough capacity building/ training programs towards building effective social enterprises.
Supporting ideation processes, nurture culture of innovation, counselling support for budding social innovators
Mentoring and coaching support
Provide skills, training, and information needed to facilitate enterprise development and help them develop sound, viable projects that can attain both social impact and commercial performance.
Incubation cum business development support
Provide technical and non-technical assistance that is designed to help prospective entrepreneurs or small enterprises achieve their specific goals.
- Infrastructural support for early commercialization of ideas
- Design / IP Registration
- Creation of design awareness and consciousness amongst MSMEs
This include design or concept lead ideas for a feasibility to business potential, from a variety of forms of operational support, , investment readiness support and technical assistance like Business validation, Peer learning, on-ground support and alliances to help the entrepreneur address the challenges of commercializing a business model.
Process model of VIC incubation
The Incubation services include the following three stages.
Stage 1: Crowd sourcing
- Scouting: Leads/deals identified through several channels that would qualify for this Incubation facility
- Referrals: Through current/ past incubates, incubators, academic institutions, Angel investment networks, industry associations and other academic institutions
- Events/competitions: Identifying best idea /innovation
- Leads generated through existing eco system players
- Screening/Business validation: Multiple stage screening process
- Selection: Idea/entrepreneur/enterprise identified for Incubation
Stage 2: Incubation activities
Non-financial assistance that is designed to help prospective entrepreneurs or enterprises with limited track record achieves their specific goals. This can include a variety of forms of operational support, such as:
- Investment readiness support to determine the capital needs of an entrepreneur, and
- Technical assistance like mentoring, Business validation, Peer learning, on-ground support and alliances to help the entrepreneur address the challenges of commercializing a business model.
- Prototype modeling – piloting and proof of concept
Stage 3: Supporting through seed capital / venture investing partners
Under this, VIC shall seek to build Seed funding, social venture investors, impact investors and donors. VIC ensures to provide eco-system support for social entrepreneurs along with cross sectional learnings from national and international expertise.