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A business model is how a startup provides value to a customer and gets money in return; this exchange allows the startup can become a sustainable company. Startups are company wannabees.
We help innovative, early stage startups with scalable business models. This approach favors product-based startups versus direct labor / service-based startups. We are a mixed use incubator with no industry preference.
For a period of six months, we provide one-on-one coaching from startup experts custom tailored to each resident's needs. We start by creating an initial scope of work and drive the process using a Lean Startup, new venture methodology. We assign a mentor to help guide the process and provide candid feedback along the way. If needed, we also can utilize student consulting teams to help accelerate the research process.
Lean Startup is a method for developing startups which shortens product development cycles by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning.
We have a pool of nearly 400 mentors made up of veteran entrepreneurs, attorneys, CPAs, bankers and other business people.
Under the direction of seasoned faculty, student teams of three to six students engage with the startup to assist with tasks such as industry research, customer interviews, and customer development.
Most of our startups come in the later afternoon or early evenings to work independently or share ideas. We frequently have guest speakers who talk on a variety of subjects such as IP, business plan development, legal entities, etc.
The incubator uses a hotel concept, with offices and conference space shared by all residents. We don't rent offices.
The average incubator in the US charges $25K per year; most are set up to rent office space and provide coaching. Some incubators trade service for 6-10% equity in the startup. CSUF Startup Incubator only charges $5K for six months of residency. As a new incubator we are priced to make choosing the CSUF Startup Incubator an easy decision.
We quickly move the startup through the business model validation process. While some startups might need more than 6 months' incubation, we feel most startups don't need to linger in the incubator.
It is located at 120 South Bradford in downtown Placentia next to the Placentia fire station.
Residents at the CSUF Startup Incubator are primarily virtual so there is no absolute limit on the number of Residents at any given time.
We provide assistance for intellectual property protection, formation of a legal entity, business plan revision, and determination of funding requirements. The Incubator will also give innovators the tools to develop a website and modest administrative support. These basics will allow the innovator to present a professional appearance to prospective customers, suppliers, and investors.