What is a business incubator?
A business incubator offers support enterprises and entrepreneurs during the critical stages of scaling up the business. They provide office space, business skills training, access to financing, and professional networks.
How do I apply to the Tourovation Hub’s Business Incubation Program and when is the deadline?
The Tourovation Hub’s Business Incubation Program application will be launched on 10th September 2020. Online applications will be launched via the Tourovation web page on Nepal Communitere website and Facebook page. The application deadline is Sunday, 27th September 2020 at 11:59pm.
How many companies will be selected?
10 tourism enterprises will be selected for Tourovation Hub’s Business Incubation Program from the two Design Sprints conducted in October 2020. High potential companies who are not selected for the program may be put on a waitlist to be offered enrollment into the program if space becomes available.
How much does the Tourovation Hub program cost and what does it include?
There will be a nominal fee for the 7 months long Tourovation Hub’s Business Incubation Program which includes the following services:
- Monthly, in person or virtual, masterclasses
- Bi-weekly strategic business coaching to meet company milestones
- Makerspace to design and prototype with 3D printers, plasma cutter, welding, and carpentry tools (based on requirements)
- Nepal Communitere’s network of industry experts, technical consultants and the Hub’s partners and steering committee.
- Dynamic furnished space, with hi-speed internet and backup electricity (depending on the COVID-19 situation).
How long is the Tourovation Hub Program?
The program is designed for the 10 tourism enterprises to graduate in 7 months (November 2020 – May 2021) and 5 enterprises, based on their performance during the incubation, will be selected to go through 7 months of acceleration (June – December 2021).
What level of participation is required?
A minimum of one day, biweekly for business coaching and one half/full day monthly masterclass attendance, is required.
Does the Tourovation Hub’s Business Incubation Program provide seed funding to startups?
Yes, the selected 10 enterprises will receive Innovation Seed Funds of up to NPR 2 lakhs to prototype, test, iterate and adopt RE and EE solutions and approaches identified during the Design Sprints. Seed funds will be disbursed according to progress made on defined incubation milestones.
How can I learn more about the Program?
Virtual Open House: Twice a week, you need to sign up and pre-register yourself for the virtual open house sessions. For more information like and follow our Nepal Communitere FB page for the most up-to-date information.
Email: The Tourovation Team at [email protected]
The tentative Tourovation Hub’s Business Incubation Program Curriculum
- Month 1 – Establish Incubation Milestones
- Month 2 – Prototyping and Testing RE and EE Approaches
- Month 3 – Iterating Prototypes Through Data and Feedback
- Month 4 – Sales Strategy and Revenue Generation
- Month 5 – Project Management and Operations
- Month 6 – Access to Finance
- Month 7 – Development of Business Plans
If you’re a tourism enterprise and seeking to adopt RE & EE solutions into your business model, don’t miss out on this amazing opportunity!
Here’s the Tourovation Hub Application Link.
Want to interact directly with Program Leads? Register here for the upcoming virtual open house sessions for Q/A.
