We've already touched on this a bit in the previous article: How to get started in entrepreneurship? But here's a slightly more detailed approach to why we chose incubation and how we proceeded. Of course, the choice is personal, and this article merely aims to enlighten you on the subject, particularly regarding the benefits and the different steps we followed to join this type of organization.

Definition and benefits of incubation

Developing a business requires many resources, whether in energy, skills, time, money, or network. And for us, the best way not to face all of this alone and to "keep our heads above water" was to join an incubator.

An incubator is a support and guidance structure for business creation for project leaders. It is a true partner. On the one hand, its mission is to assist entrepreneurs throughout their incubation period to move from a simple project idea to a truly economically viable concept. On the other hand, it provides access to a network, one of the essential pillars for business development. The role of each incubator may differ, but generally, they offer similar services:

Individual and collective support:

In our case, the incubator started with collective sessions where each incubatee introduced themselves and their project. Then, an individual interview took place with each project leader to design, with the incubation program's referent, a roadmap for the first three months. The goal is to determine and then track the evolution and achievement of objectives, and to list the various needs in order to offer the best resources and experts. There will therefore be a real contribution of skills through coaching sessions and training with specialized experts in specific areas: communication, legal, finance, IT, commercial, etc.

In addition, collective sessions are offered to study the major steps in business creation such as: setting up legal statutes, drafting a contract, developing a product, etc. With fun and interactive workshops on management, team cohesion, personal development, and problem-solving through collective intelligence.

A network and resources:

One of the incubator's objectives is to provide access to a network that the entrepreneur alone would not necessarily have access to, such as lawyers, legal professionals, or chartered accountants. In our case, joining La Fabrique de la Beauté allows us to access the network of Cosmetic Valley, a key player in the cosmetics and perfumery sector. As a member, we can participate in trade fairs and events, as well as meet industry specialists to help us develop our products.

Another asset is that the incubator offers, in its contact list, national or regional contacts for aid and loan applications. Financial support organizations regularly intervene within the structure. You therefore have the opportunity to meet them and establish a real close relationship.

As mentioned previously, collective sessions are also an opportunity to create "emulsions" and/or synergies between incubatees. You will therefore meet entrepreneurs like yourself and exchange ideas to challenge your project and even create long-term partnerships.

A workspace: Within the structure, you can have offices, with adjoining meeting rooms to receive clients and/or partners. This allows you to benefit from a more conducive work environment and friendly spaces with events such as after-work gatherings, coffee chats, etc. This has several advantages: getting out of your work routine but above all feeling less isolated.

Incubator integration process

It took us some time to choose our incubator, but it's essential to take your time to select the one that best suits your needs and expectations, and several criteria need to be considered. First, the specialization. The majority of incubators have specialized support programs or programs linked to a specific sector of activity, as is the case with La Fabrique de la Beauté, which supports projects in the beauty sector. Then, the selection is made based on the project's progress or on needs and expectations. It's important to know that the selection is reciprocal, meaning the incubator also chooses you. It also verifies your progress and motivation. Finally, location is a point to consider as you will often have to travel to the structure to work, participate in events, or collective sessions.

The admission process is quite simple. First, we recommend contacting the structure to check the project's eligibility for their program. Indeed, there may be very specific criteria for each incubator. In addition, making contact allows you to get advice on the best program to choose depending on your progress. To apply, you must send an application file and a presentation of the project. In most cases, this can be done online directly on the website. In the final stage of file validation, some incubators will ask you to "pitch" in front of a committee to present yourself.

The application file must be well prepared in advance, so you need to take your time and organize yourself to meet the call for projects schedule.

Generally, the information to be provided is as follows:

• A presentation of the team
• A presentation of the project and its added value
• The business plan
• The project's progress and prospects
• Needs and expectations upon integration into a support structure
• What the project and the candidate can bring to the incubator

Finally, don't hesitate to follow up with the incubation organization to track the progress of your application and also to show your motivation. Ultimately, it's quite similar to a job interview ;)

We hope this article helped you understand why Cahé is incubated and that it was helpful if you are looking for a support structure.

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To be continued in the next episode!

Hélène

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