INcubes is a startup accelerator that works with entrepreneurs & startup teams, helping them grow in the relative safety of an incubator & providing the resources they need to succeed.
INcubes also provides assistance to startups through their network of funders, mentors & partners spanning the globe.
This Toronto, Canada-based platform, founded in 2011, has 2 types of incubation programs – Funnel & Accelerator. Participating startups are systematically guided through the early stage phase from idea or concept to a solid business with innovative products. All applicants, if selected, have to go in for the Funnel plan, following which they may or may not be accepted in the Accelerator program.
Participating startups, especially those accepted in Accelerator, are given a host of features including office space in Toronto, access to US & international VCs, a fast tracked financial loan, among other things. Secondly, INcubes opens up access to a network of more than 100 mentors from around the world that includes sector-specific experts & highly successful entrepreneurs.
For instance, one of the core mentors is Mike Betts – entrepreneur, technology executive & president of Castlegar Management, which assists early stage technology & digital media companies. Another one of the core mentors is social news & new media expert Chris Hogg, who led Digital Journal Inc’s transition from a simple magazine publisher to a sprawling new media company with diverse interests. Chris mentors INcubes startups on strategies for growth & digital media.
For its services, INcubes takes 1.75% equity in a startup for the funnel program, & then an additional 5.75% if accepted to the Accelerator program. There’s also a joining fee. For companies accepted to the Funnel program, there is a monthly fee of $360 per company (up to 3 team members), which covers some of the space expenses. Once accepted into the accelerator, the monthly fee is waived.
The INcubes International Exchange Program (IIEP) is affiliated with a large number of incubators, startup accelerators & hubs all over the world. The way it works is that graduate companies may visit any partner locations, & make use of their facilities, space, contacts & other resources to gain a foothold in that market. By the same token, graduates from any of their partners can visit Toronto & make use of the INcubes facilities & network.
These network partners in the U.S. include 1871 in Chicago, 1776 in Washington DC, The Hatchery in New York City, NGIN Workplace in Cambridge, Nest in Redwood City, CA & Cross Campus in Santa Monica, CA. In the U.K., their network partner is Level 39.
Image Credit: INcubes
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