Since 2014 Q-Point has been successfully involved in setting up incubation centres associated with knowledge/educational institutions. Q-Point guides the institutions with:
- implementing the most important incubation activities,
- organising idea generation workshops,
- assistance in writing business plans,
- selection of favourable ideas and start-ups,
- linking to investors/banks/finance for subsidies and seed money
- and helping centres to create a network of experts in the private sector for mentoring and coaching.
We train future entrepreneurs in entrepreneurial skills and commercial competencies. An incubation centre is a place where young students and graduates can safely work on their ideas to turn freshly gained knowledge into business ideas. These ideas turn into start-ups or accelerate the growth and success of companies and spin-offs.
Q-Point has gained experience with e.g.:
- the incubation centre for Egerton University in Kenya (CoELIB),
- the incubation centre in Mozambique for the Polytech ISPG,
- the College for Agriculture and Veterinary Medicine in Rwanda (UR-CAVM),
- the University of Pwani in Kenya,
- Kenya School of Agriculture
- and Hawassa University, College of Agriculture, in Ethiopia.
Educational institutes are now developing curricula based upon the labour market needs and incorporate entrepreneurship in their curricula. Students should see this as an actual option after graduation, next to employment at a private organisation or the government. In order to gain good skills and competencies to successfully become an entrepreneur, coaching and mentoring by experts in the field is essential.
Entrepreneurship differs from self-employment. Common in developing countries is the copying of already existing businesses (a street full of hairdressers). Entrepreneurship means taking risks, creating value for customers needed but not yet existing and making use of business opportunities.
The importance of incubation and entrepreneurship for a country
In developing countries the young population is growing fast. It is a huge challenge for the governments to create enough to give everyone access to food and the basic conditions for making a living.
It is evident that it is not only knowledge that can contribute to a better living, but also skills, attitude and competencies. An economy of a country will further improve in an entrepreneurial environment.