Quebec is currently experiencing tremendous entrepreneurial momentum. Some young founders of organizations need to have a prototype manufactured to ensure that the invention works, to identify possible problems, and to show the project to potential investors. One solution is to opt for an incubator: what are the benefits of this choice?
The Support of a Large Group
If the large company benefits from the agility and dynamism of the startup with which it collaborates, the latter also has an interest in integrating an incubator into a group: it receives unparalleled strategic and sometimes financial supports and possesses significant technical and material resources. It also benefits from the experience of recognized specialists and product designers to help with creating first models, and has access to cutting-edge equipment to manufacture its prototype: 3D printers, cutting lasers, equipment for making electronic cards, etc.
In Quebec incubators, the help provided goes beyond simply giving access to equipment. They offer real assistance that lets young entrepreneurs not only manufacture their prototype but also showcase it. As in a management school, they receive training that teaches them how to draw up a business plan and start a business, as well as the steps to take to protect their invention. Incubators also offer coaching and introduce young entrepreneurs to clients or potential investors.
A Very Wide Field of Activity
Quebec incubators are very active in a wide variety of sectors: from e-commerce to the Internet of Things, as well as artificial intelligence, the healthcare industry, and the service sector, they provide valuable assistance to innovative entrepreneurs.
The Possibility of Going Further Without Breaking the Bank
When starting a business, money is the crux of the issue, and when the cash is running out but you need to make a prototype to advance the project, there aren’t many options open to the entrepreneur. They can find a free space by offering share capital in exchange or by approaching a free university incubator and taking advantage of their services without spending a dollar.
The Incubator Lets You Think Ahead
From the incubator to the accelerator, there’s only one step. And several Quebec incubators now offer accelerator services. Once the prototype has been developed, they help propel the business by helping it in its search for financing, its construction, and its development. Many incubators offer personalized services and provide entrepreneurs with collaborative workspaces. The goal? To generate synergy between the incubated companies and to prevent isolation by promoting mutual support: this is often how entrepreneurs find beta testers, for example.
Incubators have the wind in their sails in Quebec. And for good reason: they help startups in their preliminary stages to bring their entrepreneurial project to life. The range of services that they offer creates an environment conducive to the emergence of new businesses and often lets young creators meet the right people at different stages in the project.