Maxum launches pre-incubation programme

I attended the ideaCamp session yesterday at the Innovation hub where Maxum have relaunched their Pre-incubation offer, the new dates are:

2 February 2009: Deadline for receipt of applications and powerpoint slides to be submitted to Maxum

9 February 2009:  Successful applicants invited to prepare presentation for Business Beat Function

16 February 2009: Business Beat function at The Innovation Hub, Pretoria

1 March 2009: Deadline for receipt of proposals for Maxum’s pre-incubation programme

30 March 2009:    Presentation of selected proposals to Maxum’s Selection Panel

Will it Work?

I think this is a great initiative by Maxum, however i do think the model has a few issues. Currently the programme offers you a “Hot Desk” for 6 months, with free internet access. Years ago this may have been attractive here in South Africa considering the high cost of bandwidth and no broadband.

Today, 3G data costs are competitively priced and prices are constantly being pushed down. Also considering the cost of fuel, why would an entrepreneur travel and incur expenses when he could just as easily work from home and use the traveling expenses to purchase bandwidth?

Secondly, the programme lasts for 6 months which means the entrepreneur would either have to quit his job or work after hours. Only people with sufficient capital, that can afford to will be able to quit their day job and take up the offer. This excludes a whole host of entrepreneurs that may want to be part of the programme but they have bills to pay, student loans to pay off, family responsibilities.

Some of the benefits

The networking by attending the events hosted by Maxum, exposure to business mentors who could assist you and the Maxum management team. They will also introduce you to VC firms if the idea or concept is good enough.

Revising the model

Creating internet/online applications with frameworks like Django and Rails can be done very quickly and easily, a prototype or demo can be created in a few days by skilled programmers.

For Internet Startups, the time frame could be compressed to between 1 and 3 months. Offer entrepreneurs the option of subsidized bandwidth from home to reduce traveling expenses.  This would allow entrepreneurs without large amounts of capital to actually participate in the programme.

Another alternative would be a StartupCamp, whereby a group of developers get together in a room for 3-4 days and hack away to create a working product at the end of the 3 days. There have been events like this held in the US/UK previously.

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