Tuesday, August 15, 2006

Journey of an Afro-preneur: Business Incubators

Business Incubators seems to be the buzz word for every entrepreneur in Kenya right now mainly because the atmosphere is ripe with ideas but the pockets aren't filled with the money to bring those ideas into reality. Basically an incubator give you access to financing,markets, office resources which are really what you need when you starting out.

A fellow Afro-preneur who has an interesting blog here, mentioned one business incubator being run by the world bank. I've been toying with the idea of getting into one but I've never really felt that any of the ideas were financially viable in the short and long run until today when I stumbled upon a concept I had seen working very well in South Africa. I can't go into details right now except say that it could just catch on here. I decided to share the idea with Pilgrim whom I just love to death and she posed serious questions to me which I tried my best to answer and she was kinda satisfied with the direction I was going with this idea. Unlike most of my ideas that involved very little capital outlay, this one requires the resources of El Banco Mundial :-) Spanish for The World Bank.

I've been going through one of the Business plans submitted by a current Incubatee (Company or Individual being incubated) and they're pretty detailed, in fact the one am looking at is a total of 62 pages not to mention the Ms-Excel files they've done to show the financial stuff. No easy task but a dream is not usually an easy thing to pursue. So I've purposed to go through it comprehensively and pick out what I can from it before embarking on writing mine.

I love the energy you feel when you embark on a journey of this magnitude, the uncertainity that lies pales in comparison to the confidence you have in the business concept.

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