Office of Research Innovation and Commercialization

Business Incubation Center

Business Incubation Center

Introduction

Incubation is a process which tends to be activated whenever there is a need to support entrepreneurs in developing their own business. The process, or parts of it, is put in place whenever there is a need of nurturing aspiring entrepreneurs to think over and further develop their business idea and transforming it into a viable and sustainable activity.
Business Incubation Center, or BIC as we like to call it, is UMT’s effort to stimulate the ideas of the youth in our country so they may join the ranks of job creators, rather than job seekers. BIC aims to provide world-class mentorship, top of the line infrastructure, a well-groomed team to help out the startups and the resources of the entire university at the disposal of the selected startups.

Startup Incubation Methodology

There are 3 stages of startup incubation:

1) Preincubation

  1. Timeline: 2 months
  2. Mentorship Support

2) Incubation

  1. Timeline: 6-8 months
  2. Mentorship Support
  3. Industry linkages

3) Acceleration

  1. Timeline: 6-12 months
  2. Mentorship Support
  3. Industry linkages

Eligibility Criteria

  1. At least 2 founders and maximum 4 founders per team
  2. The startup must have an element of technology in it e.g. internet, hardware, software, etc.
  3. Students in their final year may only apply for Pre-incubation
  4. For Incubation, the founders of the company need to be graduated

How to apply

  1. Please fill the form online (click here)
  2. If you meet our eligibility criteria, you will be called for a short interview
  3. After your initial meeting with the BIC panel, you will be required to pitch your business idea in front of the startup review committee
  4. Every startup that successfully fulfils the requirements of Pre-incubation will automatically be promoted to Incubation Status if they agree to the terms and agreements.

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