At some point, every great entrepreneur had a great idea that turned into a great company — sometimes even a great industry. But how did he or she know it had the potential to be a great company?
The UCF Business Incubation Program wants to help local entrepreneurs figure that out and move from an idea to a company with its new Business Modeling Boot Camp program.
Through a series of virtual class sessions, aspiring entrepreneurs will be conducting customer interviews and competitive analyses, performing elevator pitches, designing their own Business Model Canvas, Value Proposition Canvas, and a Minimum Viable Product that will help them communicate their idea to future customers, partners and investors.
“We often get asked if an idea has real business potential; and while it is not our place to say, our new program will help aspiring entrepreneurs determine the viability of their business concept,” said Carol Ann Dykes Logue, director of programs and operations for the UCF Business Incubation Program. “While the incubator has traditionally been focused on growing companies, rather than ideas, we are excited to now be able to do both and foster a business concept throughout its genesis.”
D. Connie Garzon, MBA, C.B.A., and site manager for the Volusia County Business Incubator, will be one of the leaders of the courses. The Volusia County location is one of four regional business incubators in the UCF network.
In order to participate, entrepreneurs must have some type of innovation that can be scalable into a major company over time. Participants also must reside in Osceola, Orange, Seminole or Volusia counties.
While it costs $400 to participate, it is open only after screening and discussions with incubator staff. The first cohort for the Business Modeling Boot Camp will be limited in space, expecting to host no more than 10 entrepreneurial teams.
The first cohort begins Oct. 1. Interested individuals can register at www.eventbrite.com/e/business-modeling-boot-camp-tickets-120558801621.
“Our hope is that some of these entrepreneurs will start companies that are potential clients for the UCF Business Incubation Program. For those that are, we will continue to support them through the critical and high-risk early development into second-stage firms,” Dykes Logue said. “The types of businesses our program is serving are diverse, but they are creating jobs and economic opportunities that were not in this region before. This is another way for us to grow the impact of our program in the local economy.”
The University of Central Florida Business Incubation Program is a community resource that provides early-stage companies with the tools, training and infrastructure to become financially stable, high-growth/impact enterprises. Since 1999, this award-winning program has provided vital resources resulting in more than 300 local startup companies reaching their potential faster and graduating into the community, where they continue to grow and positively impact the local economy.
With seven facilities throughout the region, including the one in Volusia County, the UCF Business Incubation Program is an economic-development partnership among the University of Central Florida; the Corridor; Orange, Osceola, Seminole and Volusia Counties; and the cities of Kissimmee, Orlando and Winter Springs.
For more information, visit www.incubator.ucf.edu.