Frequently Asked Questions
What is meant by incubation?
Business incubation refers to the process of providing the conducive environment for the entrepreneurs so that they can explore their business idea and turn it into a thriving business venture.
I have a business idea. What support do I get from BIC Startups?
BIC Startups provides financial support to the eligible teams. It provides support services for various business functions such as finance, marketing, and operations. Also, it provides training to build expertise in various aspects of entrepreneurship, particularly in relation to starting a new venture.
How can I get seed fund from BIC Startups?
Seed fund of two lakh Nepalese Rupees is available to the eligible five teams per year. The teams must attend the structured program of business incubation and demonstrate the feasibility of their startups in order to secure seed fund. The fund is an interest free fund which should be paid back to the incubation center once the new venture starts making profit. As a result, it is also known as ‘revolving fund’ which means that it will be utilised to fund the next round of incubates.
How do I apply for incubation program?
You can apply for the incubation program online by filling up a simple application form which is available at this link: Google Form for Applying to the Incubation Program 2020 at BIC Startups
What facilities do I get by applying for Incubation Program at BIC Startups?
If you apply for the incubation program and get accepted into the program you will get an opportunity to participate in 10 structured workshops designed to help the entrepreneurs. These workshops will be delivered by highly expert coaches.
Likewise, you will get ‘office space’ to work in your team at our state-of-the-art incubation center. You will get networking opportunities with like-minded entrepreneurs and potentially find your first customers.