Backdrop
When worldwide the impetus on start-up ecosystems is being encouraged to promote entrepreneurship, Incubations become the most important cog in the wheel. They have graduated from providing to space to being end-to-end solution providers, offering a complete assisted journey to start-ups. However, striking a right balance between the spirited entrepreneurs and fly-by-night ideas, managing the unicorns/businesses and ensuring a hand in their growth, become s adaunting task for all incubations. An Incubation Management System is a one stop solution that helps in digitally transforming the entire cycle of conceptualizing, developing and managing an incubator
Challenges
In today’s world, all incubation management systems either standalone in their functionalities or have restricted access to all the stakeholders connected with a start-up venture. This leads to delay in establishing compliances and information dissemination between the investors and the entrepreneurs. Achievements and progress showcase becomes another hurdle in assessing the statups of a venture in real time. Bringing every transaction of a start-up’s life cycle - from being selected to mentored to manage – in one system that could talk to one another seamlessly, was the need of the hour.
CSM’s Incubation Management System optimizes the entire process of conceptualization, development and management of an incubator.
Solution
The system developed in Open source Odoo platform provides startup empowerment, Investor engagement, and Product/service delivery transformation, in the most flexible and scalable set up. Open source ERPs, like this, form the core of any digital transformation drive leading to increased productivity, decreased costs & operational optimization. Our system forms the backbone for introducing emerging technologies like Robotic Process Automation (RPA), Artificial Intelligence (AI) and Analytics, leading to a digital economy shift. It restricts applications from working in silos, that helps in eliminating the major challenge of Incubation management.
The salient features of this system include-
- Connectivity platform for startups, mentors, investors, consultants
- KPI DASHBOARD for measuring KPIS and socio economic impact
- Online campaign management for idea hackathons, challenges etc
- Online resource and learning platform for startups and students
- Strategic Program Configuration of all coeS, their employees, services, facilities, labs, assets etc.
- Space visualization in each COE
- Public portal for a Startup showcase to display their products, patents, awards and much more
- End-t0 end startup incubation lifecycle management from onboarding, milestone tracking to exit
- Rules based workflow management
- End-to-end mentorship management
Benefits
Our Incubation Management system acts as a medium to connect to all the stakeholders namely the business incubators, accelerators, startups, mentors and investors for better association and exchange of ideas. Thus ensuring efficient and expeditious end-to-end startup incubation lifecycle management from onboarding, funding, mentorship management, knowledge sharing, and milestone tracking to exit.
Major advantages of using the system is-
- The unified platform enables smooth end-to-end business incubation management
- It helps create collaborative innovation ecosystems for greater impact
- Reduces redundancy of processes
- expedite the process across onboarding, mentorship assignment and campaign management
- Centralized collaboration & communication with online team workspaces and collaboration tools on cloud makes it to easy access business application & files and share ideas effortlessly
- provision of an end to end mentorship forum
- Effective monitoring & progress tracking of both startup teams and their mentors, as well as the results that they achieve over time
