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10 Ways to Improve Your Chance of Being Incubated
Hans Christensen has worked to help entrepreneurs throughout the MENA region launch business, in his role as the director of Silicon Oasis Founders, a Dubai -based incubator that supports ICT-focused entrepreneurs in MENA associated with the mobile application space and related tech sectors.
He’s seen his fair share of applications- both successful and unsuccessful- to the incubator, which aims to incubate leading high-potential ICT ventures in the seed phase, as well as existing tech companies looking to optimize their performance. SOF is fully owned by Dubai Silicon Oasis (DSO), an integrated free zone technology park, which is, in turn, a 100% owned entity by the Government of Dubai.
When trying to get into an incubator or accelerator, it’s crucial to approach with the right elements. Here are his 10 tips for entrepreneurs on how to build a good pitch and enhance your chance of being incubated:
- Your submitted application is your “business card.” Work hard in only delivering high quality (spelling, formatting, relevance, etc).
- Clearly state what stage you're in or your status in development.
- Cleary state how much money you need and how you will use it.
- Stick to the application guidelines. That’s what they are there for!
- Keep it simple, especially on the technological description.
- Only state facts and show plans based on researched public data. Leave the dream department in your dreams.
- Show passion but not arrogance.
- When evaluating your company’s worth, do not fall into the trap of basing it on how much time and money you have spent so far. Your company or business idea is only worth what the market is willing to pay for it!
- Learn how to pitch your company using value drivers. Learn which value drivers are important in your industry.
- Research your market thoroughly and position yourself relative to your competitors.
Hopefully by putting these tips to use, entrepreneurs will be able to find the guidance that they need, whether at SOF or at any incubator.
Hans Christensen is a serial entrepreneur who, in addition to starting up companies in Europe and the Americas, built up and ran the SIEMENS Information Communication Network incubator. Hans is Director with the Dubai Silicon Oasis Technology Investment Department and the Authorized Manager for Silicon Oasis Founders.
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