Who is Turbine?
Turbine is the leading start-up Incubator and Accelerator in Mauritius. Launched in 2015 by the ENL Group, Turbine acts as a catalyst for entrepreneurs helping them convert their ideas into successful and sustainable businesses. Turbine is a national accredited incubator by the Mauritius Research and Innovation Council (MRIC). Turbine also works closely with Sting, the leading Accelerator in the Nordics.
What is a Business Incubator and Accelerator?
A Business Incubator is an organisation that accompanies aspiring entrepreneurs in developing their business idea.
A Business Accelerator is an organisation that accompanies existing start-ups, which are already present on the market to grow further.
As an Incubator and Accelerator, Turbine helps start-ups by providing services such as business coaching, office space in Oficea’s co-working, access to its valuable network, experts advice in legal, marketing, tech, access to potential investors and business angels and business exposure through the different platforms.
Why do I need to get Incubated/ Accelerated?
More than 90% of start-ups fail before their second year of operation. An incubator increases the chances of success significantly by helping you sustainably develop your business idea. Turbine will help start-ups go through their:
- Business Development: Turbine assists its start-ups with developing the correct business model, tailoring their customer focus, value proposition and advise them on methodology to increase retention.
- Sales and Marketing: Start-ups receive feedback on their go-to-market strategy, optimising sales by enhancing their marketing strategy, shortening their sales cycle and help them devise systems that increase their conversion rate.
- Product Development: Turbine’s coaches help start-ups identify essential features to which development time should be allocated. They also assist in implementing procedures to test their product and understand when to use existing libraries and open-source facilities available to them and when to develop from scratch.
- Key Metrics: Start-ups need to identify their principal goals and metrics to ensure their company’s sustainability. Turbine’s coaches help start-ups define their goals and metrics and help them align their short-term goals to their long-term goals.
- Process: Turbine gives its start-ups feedback on developing efficient processes that optimise the progress rate of their company.
- Financing: Ofen times, a business needs funding in order to further its development. Turbine helps its incubated enterprises assess their company’s worth, their required funding and when they attempt to raise it. Turbine also helps its start-ups identify investors when it is possible.
- Team and individual development: Different businesses require different skill sets. The Turbine Team will help businesses identify:
- What additions are most important to the team?
- How should we find them?
- How do we need to develop ourselves to increase the company’s speed?
- Order and Structure: Do we have a stock register, shareholder agreement, balance sheet and bookkeeping etc?
Does Turbine provide finance to start ups?
As a business incubator/ accelerator, Turbine does not finance start-ups. However, incubated and accelerated start-ups are allowed to Pitch in front of potential investors and business angels. The minimum requirement to Pitch in front of potential investors is to validate your MVP, work full time on the project and show a good return on investment.
Turbine also works conjointly with Compass Venture Capital. Our start-ups have the opportunity to pitch to Compass and receive seed funding of up to 1 Million MUR.
What are the selection criteria for Incubation and Acceleration at Turbine?
- Fully dedicated founders for their projects
- The founder needs to have savings/investment to start
- Founders commitment to raise investment within 18 months
- Investor’s Pitch and Milestone Plan in place with clear objectives and KPIs
- Turbine needs to have 10% equity in the start-up
- Start-up is already making sales and has started paying customers
- The start-up is investor ready (Pitch, Financials, Milestone and KPIs in place)
- Start-up needs to have accounts and admin in good order
- An existing website, and Social Media Accounts already created (Facebook, LinkedIn, Instagram)
- The founder needs to be 100% committed and 1 Team member working full time
- Start-up needs to have growth and scaling capacity
How many startups has Turbine Incubated and Accelerated?
Incubated Start-Ups at Turbine – 23
Accelerated Start-Ups at Turbine – 7
Do I need to pay for Turbine's services? How does Turbine sustain itself?
Turbine is a non-for-profit organisation financially supported by ENL Group, one of the top player in the Mauritian business ecosystem. Turbine is also accredited by the Mauritius Research and Innovation Council (MRIC).
Thus, the Pre Incubation Programme offered by Turbine is free.
However, Turbine requires 10% of each start-up’s equity participating in its Incubation and Acceleration Programmes. The aim of Turbine here is to be self-sufficient in the long term.
Does Turbine provide and sell business ideas?
Turbine does not sell business ideas. It works with aspiring entrepreneurs who already have a business idea on which they want to work on.
All business ideas submitted to Turbine remain confidential. A non-disclosure Agreement is signed between Turbine and the individual.
Who can apply to participate in Turbine's Programmes?
Pre-Incubation: This Programme is free, and anyone with a business idea can apply.
Incubation: This Programme is for entrepreneurs who are ready to register their business with Mauritian Authorities. It is also open for foreigners who are open to start their venture in Mauritius and benefit from the Innovator’s Visa.
Acceleration: This Programme is open to regular start-ups who have already validated their product/service with paying customers but require a boost to increase their sales and tractions either locally or internationally.
How do I join Turbine's Community as a mentor/coach/expert?
View Turbine’s Community Page on the following link: