EMPOWERED INCUBATORS, STRONGER START-UPS
Traditionally, PUM focuses on businesses which have been operating for at least two years. The theory behind this philosophy is that the rate of success among new entrepreneurs is quite low, and that PUM intervention would therefore have a low yield. Our policy plan for 2017-2021 nevertheless states that experienced entrepreneurs and professionals with expertise are to be deployed to benefit promising first-time entrepreneurs in those countries where we operate, in supplying both advice and hands-on assistance. We intend to do so by means of targeted collaboration with incubators and/or vocational training institutions which serve as incubators.
Incubators, also known as start-up clusters or accelerators, are (artificial) ‘breeding grounds’. According to a widely accepted international definition, the term incubator is: “an organisation which executes an incubation process designed to enable the accelerated growth of high quality start-ups into successful businesses, by means of the application of an integrated package of services, including workspace services, culture coaching, business planning, access to capital and business network, etc.” In the Netherlands, for example, incubators have been set up at universities in the form of start-up clusters, as well as creative business centres in cities. In the countries where PUM operates, vocational training centres often serve as a ‘breeding ground’ for young, promising, first-time entrepreneurs. PUM’s new service Incubators is therefore to focus primarily on such institutions.
We offer our services through chambers of commerce, universities and entrepreneurs’ associations.