Posts

To raise money and start a small business, there is nothing better than investors. These individuals and/or companies pour money into your project, leaving you free to make it thrive. However, sponsors do not provide funds easily. They may also not invest at all if they do not find the idea to be profitable enough. To raise your chances of getting sponsored, you need a truly brilliant idea and solid preparation. Find some tips on ways to get funding below:

Consider joining an incubator for your start-up

You just got your idea for a start-up and you are new to the idea of entrepreneurship. If your project is an innovative one, you can consider joining an incubator. These organisations assist entrepreneurs and help them grow their idea into a flourishing start-up. They provide various types of facilities, such as access to legal services and to a work space. These incubators, such as Turbine, can help you to connect with like-minded individuals and thus create a professional network. They will eventually provide you with the means to get funding for your start-up to grow.

Make your activity visible to investors

Sometimes, businesses do not need much funding to launch on a small scale. Once this is done, you can attract investors by making your activity as visible as possible. Become trendy. Get media attention and work on your popularity on social media. Use influencers and SEO tactics as much as possible. Getting popular in Mauritius is easy since its population is quite small. Journalists are also always on the lookout for innovative subjects to cover. Make your business famous even before you present it to potential investors. This will considerably increase your chances of getting a sponsor.

Know your business from A to Z

The key is to arrive to your presentation well-prepared. If you are unsure about your idea and/or your charts and figures, you will not paint a reliable picture of yourself. The investors will not deem you capable enough to carry out the project. In other cases, they will not deem the project itself worthy enough. An investor is looking for a leader, a ship’s captain. A captain who does not know its ship cannot lead it on a successful journey.

Prepare a rock-solid business plan and revise accounting and management basics. Work on your public speaking skills and rehearse your presentation before the actual day. Focus on communicating your vision and on displaying its potential. You already know your project and your market by heart. So you need to impress with figures to bring credibility to your project.

 

Once you obtain funding, you should work on building sales rapidly. A start-up will only become a fully-fledged business if it demonstrates rapid growth. Investors will also be more at ease about sponsoring your project if they see quick and satisfying results. A fast-growing company will give less opportunity to competitors. Aside from sponsors, you can consider other options to raise capital. These are crowdfunding, money-saving and loans, amongst others.

Every last Thursday and Friday of the month, we offer free Co-working passes!

These passes are for those who wish to experience what it is like to co-work in an open space environment.

Our co-workers are entrepreneurs, innovators and various professionals (Architects, Accountants, digital marketer, developers…and many more),  who form a strong community of like minded people helping each other out.

One free pass can last a full day, 08h30 to 17h00, at our open space.

The next free co-working open days are as follows:

– January 24th and 25th
– February 21st and 22nd
– March 28th and 29th

**Not to forget** The offer also implies Free Coffee and other amenities (kitchen, WIFI and games) !!!

Sign up now! 

The business pre-incubation program organized by Turbine in September this year ended on October 19, 2018.

The Pitch

The participants had the opportunity to present their project in the form of a “one-minute pitch” to a panel of investors, professionals, business angels and their family members.

Of these 30 projects, only 28 went to the end and were able to present their Pitch.

We had as providers, Gemstone, Compass Venture Capital, Ict.io, OXO, Alinae consulting and an individual and personalized coaching service that allowed the participants to really work deeply on their idea.

Why Test Drive?

Turbine, business incubator of the ENL Group has the mission to support entrepreneurs in their career as innovators and identify projects with high potential, the Test Drive is the first step where the entrepreneur deepens his idea and sees or it can go.

The Test Drive is a program of 3 evenings where professionals selected by the Turbine deliver workshops and give the practical and necessary advice to come up with a business plan.

Turbine’s aim is to continue to support these entrepreneurs with the incubation program which lasts 12 months and offers weekly business coaching, a free work space, access to the network, exposure, tailor made workshops, 30 free hours of access to experts such as legal, marketing, digital, finance and other relevant fields.

The results

We were fortunate to have a passionate and very talented group who really wanted to develop their business idea, the workshops were enriching with an atmosphere of collaboration and mutual aid.

The participants came out of the Test Drive with a clearer idea of ​​their project, who are their customers, what are the benefits of their product or service, how much revenue will be generated and how much they need to develop their solution.

Turbine team also learnt a lot from this experience. We have helped and accompanied 30 project leaders closely the past 4 weeks, now they need to decide whether to go ahead or not.

Seeing their motivation level on the pitch day, we are looking forward to see them all thriving in the coming years.