Low Cost Business Startup Incubator
They say that imitation is a form of flattery, we can only hope so because this is a proven idea that appears to have worked well and could be a tremendous benefit for people wanting to help spark a new technology business.
Y Combinator describes itself by saying “Y Combinator is a new kind of venture firm specializing in funding early stage startups. We help startups through what is for many the hardest step, from idea to company.
We invest mostly in software and web services. And because we are ourselves technology people, we prefer groups with a lot of technical depth. We care more about how smart you are than how old you are, and more about the quality of your ideas than whether you have a formal business plan.�
What makes this idea worth repeating and reinventing is that what you can provide, besides a very small amount of an initial investment, is an environment in which startups can collaborate, share resources and share ideas to make their ideas become worth major investments.
In return you would receive a percentage of the startup company and your share of 5%-10% of the company could be very valuable as that company grows.
The genius behind this approach is that while most startup technology companies fail, with such small startup investments, you can not only try to launch a number of new ideas but minimize your “all my eggs in one basket� approach.
As you’ve cruised the web you may have come across the social bookmarking site Reddit, a success story of this type of approach.
Where this approach would come in very helpful is in developing countries that could create a business idea bootcamp to bring together entrepreneurs from the local area or country to work in their separate teams to perfect their ideas, preferably web based, and use the collaborative skills of others teams to help all succeed.
You, as the owner of this business incubator would need to provide a suitable environment and tools for these startups to have access to work night and day for a specified period of months. Those tools would include shared office space, computers, technology, internet access, lots of caffeine, etc. In return you would receive a percentage of the company.
Where this idea really gets its legs is your ability to pitch the best ideas to venture capital firms to buy the idea but you could make a strong argument to keep continued development in your local area to help generate local jobs and economic investment and growth. An idea that finally launches can make you, as the supporter and implementer of this idea, a lot of money.
It might be the best form of gambling you can do, betting on success.
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This idea was generously donated by Steve. As a thank you for the donation of the business idea this site and the Myvesta Foundation have helped to fund the business of entrepreneur Jeanne Gbetoho.
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