CSUF Startup Incubator
What is an incubator?
What is a business model?
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.
Who does the CSUF Startup Incubator help?
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.
How does the CSUF Startup Incubator help?
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.
What is Lean Startup?
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.
Who are the mentors?
We have a pool of nearly 400 mentors made up of veteran entrepreneurs, attorneys, CPAs, bankers and other business people.
What is CSUF Consulting?
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.
What happens at the CSUF Startup Incubator?
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.
Does the CSUF Startup Incubator rent office space?
The incubator uses a hotel concept, with offices and conference space shared by all residents. We don't rent offices.
What does incubation cost?
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.
Why only 6 months?
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.
Where is the CSUF Startup Incubator?
It is located at 120 South Bradford in downtown Placentia next to the Placentia fire station.
How many startups are at the CSUF Startup Incubator?
Residents at the CSUF Startup Incubator are primarily virtual so there is no absolute limit on the number of Residents at any given time.
What does the CSUF Startup Incubator offer?
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.