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Incubator program

The Faculty of Business and Information Technology (FBIT) Business Incubator is a two-semester for-credit program. It is open to all FBIT students who are in their third and fourth-year, apply and compete for a limited number of places. Successful applicants will already be committed to their own entrepreneurial venture. As individuals, they will be strong academically and will demonstrate the ability to perform satisfactorily in accordance with an individually designed, self-directed learning contract.

FBIT will oversee all incubator initiatives and activities, providing guidance, mentoring and assistance to you in all phases of your venture’s development. You will also be supported by local business community entrepreneurial support services.

You will move your business ideas through the various stages of preparing a comprehensive business plan, obtaining venture capital and launching your business. These initiatives will take place from within the FBIT Business Incubator umbrella as a real-world undertaking with a view to launching a functioning, viable business operation. You will have access to the Entrepreneurship Lab facility as a workspace, as well as other faculty resources, to support your product development.

The FBIT Business Incubator differentiates itself from traditional business incubators by its dual streams:

  • formal learning
  • practical doing 

The traits and talents that contribute to entrepreneurial success come naturally to certain individuals. However, this program reflects the philosophy that skills and knowledge can be learned and acquired as a result of a formal program of study, especially when linked with the practical doing component of the program.

A self-directed learning contract will be developed for you. These contracts include the preparation of a comprehensive business plan for your venture. This will include all of the requisite research, design and financial planning required to develop and launch a business venture (practical doing). A formal program of study will also be offered. It will include various topics related to your business-planning initiatives (formal learning), and will be weighted equally with the practical activities.

Depending on your own individual program, you will have already completed various Business and Entrepreneurship courses as part of your degree work at the university. This program will advance your individual fields of study. You will come to the program with a high level of academic performance, which you will be required to sustain in order to remain in the program.

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