Incubator
Small World Group has been, with little fan fare or public recognition, incubating start up companies now for several years. Our process is a very lean approach – little money, customer focus, alternative funding (e.g. customer funding, government contracts) – and it is one that we have little publicized.
Over the past few months, Small World Group has proposed to the Singapore National Research Foundation (NRF) to operate an Incubator in that country with support from a new program they have initiated. You can find out a bit about the TIS or Technology Incubation Scheme through these links (1), (2), (3).
On December 30, 2009 our proposal was accepted. I must say that even the proposal process itself has been invigorating and caused us to look at our activities in new and hopefully productive ways. Our proposal states that we will focus on 2 areas of technology innovation – clean tech and optical systems. These are areas of both passion and expertise for us. We will also look at deals in materials relating to our central focus as well as some special opportunities outside our core.
The SWG Incubator accepts unsolicited business plans. However we expect to start more companies by beginning substantial IP and working technology from Singapore’s rich panoply of technology held at their Universities and Institutes. We will also import some opportunities from abroad. All execution will be here in Singapore. Generally we will not be working with existing companies. Our level of funding precludes this being practical.
What we most principally need are leaders, people who want to be the “proto-CEO” or pCEO to help organize the startup. As the pCEO, you will be tasked with first exploring the IP, technology and customer starting points and then producing together with our mentorship a business plan that the Incubator could fund.
There are 2 founders for the incubator -
- Frank Levinson – flevinson@smallworldgroup.com
- Dean Haritos – dharitos@smallworldgroup.com
Frank keeps his location calendar available here.
If you have an idea or if you are interested in working with us as a pCEO please email us to get things started.
We keep a ‘top 10′ set of starting points always ready and today these range from very technical and useful optical and other instruments to socially game changing technologies for clean water, renewable power and energy efficiency. Many have corporate partners identified who can help supply key elements that blend with the key IP to accelerate the company’s drive to commercialize their initial products.
Our Process
To get a company fully funded in the Incubator (which we call phase 1) you have to complete a phase 0 where we work with you to write the business plan, to also fill out the paper work of commitments we make to the Singapore NRF and to really stress test all of the basic premises of the business plan. We work to be very certain that groups receiving funding have gone through a process of becoming their own best critics. Phase 0 lasts for 30-90 days. Some phase 0 work can be funded inside the incubator structure.
Phase 1 results in funding of up to S$588,000 and we anticipate that this funding will last the company around 1 year. We have an open model and a set of systems that each of our ventures adopts whereby their accounting systems, planning systems and other elements are all on line. We can therefore interact with each of the companies and their leaders over the web no matter where we are at the moment.
So we are open for business. We have funding to start upwards of 30 companies over the next 3 years. Get in touch if this sounds like fun!