Hive Virtual is our Virtual Incubation Program that is aimed at reaching out and supporting growth oriented rural entrepreneurs in Uganda. The goal of this program is to enable innovative entrepreneurship for sustainable, inclusive growth and employment without physical presence.
Specific Program Objectives
- Offering the benefits of business incubation beyond the major cities to rural populations without physical presence
- To support and use different tools and business models that can lead to future sustainability for rural entrepreneurs
- Interaction of both rural and urban entrepreneurs
Program Focus Areas
- Technology for education
- Technology for finance
- Technology for health
- Technology for governance
- Technology for agriculture
What is Virtual Incubation?
Virtual incubation is by all intents and purposes that same as the location based incubation. Virtual incubation uses internet technologies as a medium of engagement. This can be complimented with physical meetings.
The Value of Virtual Incubation
Virtual incubation brings a number of opportunities that hither to are not possible with the traditional incubation. Virtual incubation has significant values
- Breaking the space, distance and time barrier
- Ability to have more persons participate in the program
- Ability to tap into global resources as facilitators and mentors
- Flexibility in the delivery and engagement
- Reduced cost of engagement at the incubation facility
Mode of Engagement
This will be offered on key fronts such as business and technology trainings, e‐learning, online video and document repositories, bullet-‐in boards and discussion forums, blogs, developing entrepreneur development programs with milestones and results to be attained, holding progress reviews with incubates and inviting guest speakers. One key feature of this program will be a strong emphasis on market access i.e. sourcing for tenders and freelancing work to enable incubatees become revenue positive as early as possible and test the viability of their applications.
Who Should Apply
This is open to all persons are keen to develop business concept in the focus areas. For the first intake the Virtual Incubation Program will target persons with working prototype and ready to embark on turning the prototype into a marketable product. Individuals and groups are allowed will be allowed to apply to participate.
Duration of Incubation
The virtual incubation program will last a period not exceeding six months with a possibility of extending the duration to another six months depending on the progress and support required.
Method of Application
The application method will largely be online with participants required to make their submission based on a format that will be shared. The application will be expected to cover the following areas:
- Introduction about the prototype; what is the background to the prototype, what was the incentive behind the development of the app.
- Business Opportunity; what business opportunity is the application or solution responding to and how big is the opportunity.
- Market/Growth Potential; What market does the application/solution intend to serve and how big or scalable is this market?
- Growth Drivers; what drivers do you envisage will be responsible for the growth of your business.
Obligation of the Incubantees
The successful candidates will be expected to;
- Comply with the timelines that will be provided by Hive Colab
- Work with the mentors to ensure successful completion of the program
- Attend the face to face programs that will be arranged by the Hive Colab
- Provide the scheduled feedback
- Commit to complete the incubation period with acceptable deliverable
Obligation of the Hive-Colab
The Hive-Colab will provide the following;
- Administrative support to the program
- Provide mentors to all the successful applicants
- Deliver the training programs
- Identify the mentors and facilitators