Step 1 - The innovative potential of the project
First of all, the entrepreneur needs to verify if his idea is really innovative. Knowing the strengths and limits of a plan, helps the new enterprise to increase its possibilities and to improve its competitiveness on both local and world markets. Often the technical sustainability of the project is underestimated by the potential entrepreneur, while this should be of main importance. In order to become a prosperous commercial company, an innovation has to live up to the technical limits and the typical necessities of an industrial process. Retrieving the necessary information can be time consuming and complicated for a new enterprise, therefore, the Incubator offers support in this phase.
Step 2 - Finding the right person on the right place
The human element is fundamental for a new enterprise.
A good researcher is not automatically a good entrepreneur. In this phase, it is necessary to validate who will occupy which role in the company. Building a team is not as straightforward as it may appear. Teams are capable of excellent performance, but in practice opportunities to set up and use teams properly are regularly missed. One reason for this is that for many people it is more natural to aspire individual performance instead of being evaluated as a team. Simply bringing together a number of people will not result in good teamwork. Fundamental question here is how to complete the missing competences and with which human capital.
Step 3 - Market Analysis
By carrying out a profound analysis of the market, the competitors and the necessities of the market, an appropriate base for the vending strategy and marketing mix is formed, this can be useful in the accomplishing of a business plan.
Step 4 - Economic Sustainability
Before being able to verify the revenues of the products or services, first the technical and human means need to be defined. If after that, also this phase proves to be positive, the entrepreneur can proceed on elaborating the business plan.
Step 5 - Business Plan
Before commencing a company a business plan needs to be accomplished. The Incubatore ALIMENTA can help the entrepreneur in doing this job. A business plan needs to contain at least:
- a business idea and a business model- composition of the management team
- description of expected technical and market development
- description of the products or services or the R&D activities
- a financial plan, overview of planned activities linked to expected costs and investments
- state of the art and state of intellectual property
- an economic- financial plan
The business plan is useful to be able to present a concise vision of all the aspects of the project. This document has two objectives: one to present the project and second to attract potential investors and clients.
Step 6 - Realisation of the new business
The last phase is the effective realisation of the company. At this point the initiators need to decide on the juridical nature of the enterprise. It could appear indispensable to hire a external advisor for the administrative and bureaucratic questions.