The Start-Up Cameroon venture aims to put in place a start-up incurbator capable of transforming innovative ideas with great business potentials into enterprises. Promoting Start-Ups: The smart way for Cameroon
The Cameroon Start-Up venture will be bringing together individuals with innovative business ideas into a conducive environment and providing them with the technical and material support
that is necessary in transforming their ideas into successful enterprises. It is a kind of Incubator that allows prospective entrepreneurs to be nurtured by experts and proven successful start-Up entrepreneurs. It is mandatory for every applicant joining the Start UP Cameroon to have an original business idea that can be rapidly transformed into an enterprise within a maximum period of one year. These potential Founders will be expected to legally incorporate their businesses and to be guided towards raising funds and securing partners for their new businesses. The Start-Up cameroon Model: From an Idea to an Enterprise
A four stage model will be used in effectively transforming ideas into successful enterprises
Stage 1: Filtering and Retention
Stage 2: The Start-Up Incurbator
Stage 3: Fund Raising
Stage 4: Lunch of Enterprise
See the 'Start-Up Cameroon' graphic over-view
Stage 1: Reception, filtering and retention Process
The model starts with a filtering process of a wide range of business ideas to find those which can potentially be transformed into strong enterprises. A potential business idea can come just from anybody independent of level of education, age, sex, experiences, level of income etc. Given this hypothesis, Start-Up Cameroon will accept and scrutinise start-up initiatives on a rolling basis from potential stat-up entrepreneurs
A mechanism exist with a filtering process that permits the retention of submitted start up ideas that have the greatest potentials in terms of innovation, strength and having the best probability of succeeding as profitable enterprises in a competitive economy. Start Up entrepreneurs or cofounders whose ideas are validated immediately follow an orientation process which gives them access to Start-Up Cameroon facilities and their chance to start working on their dreams enterprises
Filtering Criteria
An original business idea that can potentially be transformed to a profitable enterprise
Concept should be innovative with elements of creativity
Adaptable to the local economic realities
Ventures dealing fully with importation are not accepted
Stage 2: The Start-Up Incubator
The institute provides a state of the art office outlay with facilities that will give prospective founders the best conditions of bringing out the best in them. Brand new office computers, ICT installations and printers, quality office desk, tables and corporate chairs. High speed internet connection available for continuous use, research, communication, data sharing and so on. A presentation/conference room that allows for different start up entrepreneurs to work together in teams, share ideas, criticise ideas and receive talks from resource persons. Inside the Start Up Institute
Start Up applicants accepted into the start up institute have a maximum period of one year to perfect their business ideas and incorporate or register their ventures. To achieve this, prospective entrepreneurs are expected to undergo rigorous mentoring, coaching and network building from day one. Initiation to enterprise Start-Up process
Potential start up founders are introduced the different types of enterprises that can be created and the legal framework and procedures for new enterprises to be created. At this stage, each of the founders or cofounders is expected to clearly identify what kind of enterprise they will like to create. Business Concept Development and research
Every Potential founder or cofounder accepted into the start up institute must have a concept that has been evaluated and judged valuable enough to be transformed into a successful business venture. With the support of specialists, mentors and peer colleagues, this concept is further examined and scrutinised. The potential founder is encourage at this stage to go into further research and field study and sampling may be done depending on nature of venture. Any research being conducted at this stage is mainly to re-enforce the preliminaries that has been done by the potential founder before joining the institute. Technical inputs and constraints are reviewed when dealing with this aspect of concept development. Mentorship
The mentorship program allows us to link each prospective entrepreneur to an experience executive practicing in the same business area as our potential entrepreneur. For example a potential founder who wants to start a new enterprise in communication and media will be tied to a mentor who is a specialist and an executive in the area of communication and media affairs. This alliance between the mentor and the prospective entrepreneur may continue as long as it is convenient for both parties. Locating a mentor is hugely the responsibility of the of the potential entrepreneur through our support
Contacts, partners and networking
Depending on the character of every prospective start up enterprise, founders will work towards developing relevant contacts and establishing partners that are essential for the eventual creation of their enterprises. Start up Institute through it established network and contacts will provide a unique opportunity for business developers to exploit and be able to successfully launch their businesses within the time recommended. Naming and Branding
Start Up entrepreneurs will also focus on naming and branding products or services that they will be offering. What names the prospective company takes, designations and logos are very important for the image of their business. At this level, these prospective founders will start proposing names and logos that their new businesses will assume. In addition to this they will learn what they need to do to protect their names and brands. Drafting Business Plan
A business plan is an important document that is especially needed by bankers, creditors and investors who may wish to participate in the risk of starting a new business. Prospective co-founders through the guidance of experts will progressively establish business plans that meet the highest possible standard. The business plan will include a wide range of details such as investment needs, revenue, cost and profit projections, and management and marketing perspectives. Stage 3: Fund Raising
Funding is the single most strategic input to any investment option. Even some of the most sound business ventures still struggle to access funding especially in the case of developing countries where capital is very scarce. However, the start up institute is developing smart options for potential founders to exploit and obtain the funding that they so desire. Potential executives will have to be advised on what kind of financing they need, how much they need and under what terms. Start Up Institute in collaboration with Standard financials ltd will be organising regular investment Pitching Events. Potential founders will therefore have the opportunity to pitch their ventures to a wide range of prospective investors and creditors. Depending on the needs of different prospective entrepreneurs, the different sources of funding will be fully discuss and evaluated. The Investment Pitching Event: The pitching event is an opportunity for entrepreneurs to present their ideas and projects directly to potential investors. Pitching events will be held quarterly (4 times a year). Prospective entrepreneurs should see guidelines and procedures on participation. Stage 4: Business Launching
A potential start up entrepreneur will receive our full support in the eventual launching of his enterprise. Depending on the nature of your enterprise, it is possible for you to launch it while still at the start up institute or after you have left. Whatever the case, the institute will work closely with you in the eventual launching your venture
Benefits of Start-Up Cameroon to start-up entrepreneurs
Note once more that start-Up Cameroon is open only to potential entrepreneurs willing to obtain our support and create successful enterprises. Prospective entrepreneurs can expect unlimited benefits culminating to the creation of their own enterprises.
-Access to a well equipped office space, computer and high speed internet facilities. This spacious office offers the best environmental set-up for prospective entrepreneurs to achieve their dreams of building successful enterprises.
-A permanent coaching team to guide start up entrepreneurs on as they work through creating and eventual launching of their dream enterprises.
- Mentors: Linking prospective Start Up entrepreneurs with individual mentors having first class experience in the business area of the potential start up entrepreneur.
-Expert support and training.
-Collaboration with successful founders and corporate executives.
-Regular presentations from business executives on crucial issues related to the success of your future enterprise
-Better chances of securing funding for your enterprise.
-Access and support from our partners and thus lower cost and ease of launching your business.
-An entrepreneurship ecosystem emerges from which every prospective entrepreneur benefits from the skills, experiences and successes of one another, while equally learning from each other’s mistakes and failures. Benefits to the economy -Start-Up Cameroon will propel the creation of new and innovative small and medium size enterprises in Cameroon
-More real private sector jobs will be created with a positive effect on employment
-A more dynamic private sector with less reliant on public sector
-Emergence of new start-ups likely to push up economic growth -Increase in government revenue through increases in tax revenue.
-Quicker drive towards economic emergence with all its associated benefits
