THE STARTUP BOOTCAMP ON 16 JAN 2021

Assuming then, that you are a prospective startup owner – if not right now, then as soon as you graduate from College, what are the critical inputs you would require to be better equipped to take a plunge?
Here are some

1. Access to Experts.

Expertise of two kinds is available to all students wishing to embark upon the startup journey.
The first is Entrepreneurs who have already started their journey, and have tasted success. Getting their perspective on what are the essential elements of a successful enterprise, what are the dos and don’ts to ensure your enterprise is launched successfully and rides smoothly on a growth curve, is critical.

The second kind of experts are those existing within educational institutions.

The first thing most universities have more of per square mile than anybody else is experts. These are people who have survived the harsh world of ‘publish or perish’ to keep their job and stay in academia. That means that they know their stuff – or at least their theories. Since many students lack theoretical knowledge, having access to their professional insights is very valuable. Even better, a lot of professors are looking for opportunities to get involved in the private sector. That means you might just find a professor to rope into your new scheme. That means free advice, free access to their network and the free authority that having their name on your team implies.

2. Startup Incubators

A startup incubator is a collaborative program for startup companies — usually physically located in one central workspace. Incubators are designed to help startups in their infancy succeed by providing the workspace, seed funding, mentoring and training. An Incubator is a place where you can put your new startup and watch it grow into something truly magnificent.
The best parts? Lots of universities have incubators, accelerators and the funds to support them. Often universities will give out loans to startups that they think are particularly interesting and offer them string-free loans that the companies do not even have to pay back if they fail!

3. Startup Funding

Almost all Startups need funding. Funding could be required by the Startup at different stages – at the ‘Pre Seed’ stage, the ‘Seed’ stage or later stages when the business has been established and is on a growth trajectory.
Funding is available in plenty, in terms of the sources as when as the amount of money, provided the investors are convinced that your business plan is solid.
It is important for students who are aspiring startup owners to be aware – AT THIS STAGE – of the sources of funds, as well as the process and the essential requirements to get the funding from an investor or a funding institution.