Business Incubator Unit
The Business Incubator is a unit at Center Of Excellence at Palestine Polytechnic University based in Hebron West Bank Palestine and it was launched at the beginning of the year 2010 What started as a technology based physical incubator facility, now offers business services to Palestinian entrepreneurs especially in Hebron who have mature concepts for unique and innovative projects in various fields assessed to have strong market potential.
Aiming to develop Palestinian Micro, Small and Medium Enterprises (SMEs), as well as tackle growth model sectors in order to generate new jobs, attract foreign investment and improve the economic situation in Palestine.
In an effort to support the graduated people in our university to becoming dynamic participants in the global spread, adoption and utilization of projects with tangible results, Our incubator assists entrepreneurs to commercialize their ideas by designing, developing, implementing and promoting those startups that will support the growth of entrepreneurial business ventures by providing them with an integrated package of business services aimed at generating lively enterprises.
Forging strategic partnerships with local universities, local and international non-profit organizations, PPU Incubator is able to exchange technical know-how, develop best practices, mentor graduates-to-be, developed mentorship programs, organize activities and boot camp events, gain donor funding, as well as utilize existing access to international networks.
MISSION & VISION
We working on creating a mental image of success in front of young entrepreneurs to develop their ideas to establish of small and medium enterprises in their early stages and market it. So The Business Incubator aims to assist technology entrepreneurs to commercialize their ideas by designing, developing, implementing and promoting those initiatives. Support of the development of entrepreneurial business ventures is done by providing startups with an integrated package of business development services that will nurture and encourage the commercialization process and enhance the development and growth of dynamic enterprises including micro, small, medium and high growth models.
With political uncertainty and severe economic conditions continuing to severely impact the ability of Palestine’s Business sector gain access to markets for its goods and services, specific actions in the design, development and implementation of entrepreneurial support at the infrastructure level is needed to overcome these impediments.
Specific objectives that are to be implemented, of which the core elements include;
• To support novice entrepreneurs and students at the earliest stage of technological entrepreneurship and enable them to implement their ideas by turning them into commercial products
• Form a productive business ventures in Palestine and outside.
• Identify and leverage regional/international investors and financial institutions to fund the innovative ideas in the riskiest stage of their development
• To provide entrepreneurs and students with physical premises, financial resources, tools, professional guidance, and administrative assistance.
• Stimulate research, innovation, and creativity students, graduates, technicians and staff at PPU and other universities in Palestine .
• Help in creating jobs for university graduates.
• Assisting existing Palestinian firm’s access to regional markets.
• Helping non-ICT industry sectors integrate ICT into their business operations.
• Creating promotional and marketing strategies.
• Creating and nurturing relationships with development organizations in order to cooperate on joint economic development initiatives.
Business Incubator Services
• Pre-incubation (Training and Coaching)
• Business Plan writing and Business Model Canvas.
• Specialized administration(financial management and accounting)
• Provide places and spaces equipped and technology.
• Provide specialized programs to finance new projects, through government financing programs, or a network of businessmen and investors.
WHAT WE’VE ACHIEVED IN 2015
From the date of 2011
• The number of initiatives undertaken: 10
• The number of Participants: 850
• Number of training hours: 1250 H
• We received more than 250 Business Plan, evaluated over the 4 years
• Provided full incubation services to 20 start-ups.
• Pre-Incubated services for more than 40 projects
• A network of over 15 mentors, with an array of expertise from business practices to technical assistance that provides ongoing coaching and guidance to aspiring entrepreneurs in their ventures to create sustainable and successful start-up businesses.
• An Israeli blockade and lack of freedom of movement.
• There is a shortage of incubators, which mostly do not provide added that’s needed for most of the projects.
• Palestinian youth seeking secure based employment. (Culture of shame and fear of failure).
• No registration laws supporting start-up companies (copyrights).
• The U.S.-Middle East Partnership Initiative (MEPI)
• Spark ignites ambition – Netherlands
• Palestine Investment Fund (PIF)
• The Palestine Information and Communications Technology Incubator (PICTI)
• International Youth Foundation (IYF)
• Birzeit University
• Mercy Corps
• Leaders Organization
• Chamber of Commerce - Hebron
PPU Business Incubator has a clearly defined incubation process which helps entrepreneurs realize their ideas. The objective of incubation is to produce successful companies with the potential to create jobs, commercialize new technologies, and strengthen economies.
Key Principles and Elements of Business Incubation
Entry/ Selection and Exit/ Graduation
Given graduation is the goal of incubation, it is important to define an initial road map towards successful graduation and to select those startups willing and able, with the incubator support, to reach this goal.
Outreach and Virtual Services
• Enables individuals from beyond the incubator to access services.
• Can be an easy way to reach clients.
Access to Finance
In most cases, capital is a critical issue for incubatees. Therefore, incubators must address this issue by providing access to sources of finance, reaching out to sources in larger economies, international donors and others to locate and secure appropriate funding for their incubatees.
• Efficient and effective delivery of business support services by an incubator enhances the chances of an incubatees’ success.
• Incubators must tailor their services to fit the incubatees’ needs, if possible offering the services at below market rates to reduce the cost of start-up.
Business incubators rely upon the connections their incubatees can establish, as the connections can result in new revenue streams, partnerships, or ideas that may prove financially successful. Incubators should make an effort to connect incubatees with individuals from a variety of sectors and areas of expertise.