AURAK Center for Entrepreneurship (ACE) housed in RAKBANK Business School, is dedicated to enabling students and entrepreneurs achieve their dreams.
Creating an entrepreneurial venture is exciting as well as challenging. It involves taking risks and navigating unfamiliar and sometimes hostile territories. Innovation center for entrepreneurship helps students and entrepreneurs to break the ACE by reducing or eliminating stress and risks associated with new venture creation and gives them the confidence to build startup ventures.
ACE offers a range of ACE cool solutions targeted to serve the community. These services include:
Business Plan Evaluation Service
Provides a patented technology based solution to evaluate business plans. A quantitative and objective evaluation is made. Participant receive scores and customized recommendations
Helps to bring ideas to the market. Operationalizes most of the elements of the business plan. Supports in setting and launching a new venture
Supports in running and growing a business. Provides dedicated space, IT infrastructure, supervision and real time consultation
Technology Consultancy Service
Provides consultancy on ways to enhance opportunities for corporate innovation. It advices on creation of an entrepreneurial architecture that promotes innovation
KNOWLEDGE AND INNOVATION AND TRANSFER ENTITY (KITE)
AURAK center for Entrepreneurship (ACE) has developed a Knowledge and Innovation Transfer Entity (KITE) to build the bridge between academia and the industry.
Business Plan Evaluation Service
Due to its hazardous nature, evaluating its business model is considered necessary. However, evaluation frameworks for startups are underdeveloped, and their ability to assess startup business models comprehensively is under-examined. As a result, subjective and narrowly focused measurement criteria are used to evaluate startups without adequate research evidence.
ACE evaluates business plans through ‘SECURE’ (Startup Evaluation Calculus Using Research Evidence). SECURE is a unique and patented online business intelligence system exclusive to ACE. It is a diagnostic tool that analyzes a firm’s desirability, marketability, feasibility, scalability, and viability. SECURE comprises criteria from multiple functional domains to measure all possible startup success factors such as marketing, operations, management, and finance. It evaluates startups effectively and conclusively using a quantitative rating scale. Further, the SECURE indicates the proposed firm’s readiness level and provides recommendations for each assessed criteria, which will aid in decision-making and improve startup business models.
Additionally, the SECURE canvas helps to understand the interrelated parts of a business model, providing a visual representation of critical elements of a startup. Finally, SECURE offers potential investors an actionable tool for assessing the quality of their investment. Researchers and educators can reflect on several performance measures that are theoretically anchored with relevant research evidence.
Corporate firms struggle to meet their innovation targets and achieve sustainable competitive advantage. The challenges of corporate innovation include barriers to creative thinking, lack of innovation process, inadequate resource mobilization, lack of learning and engagement, hierarchical structure, inability to manage incentive and quantifying results.
HOW CAN MY ORGANIZATION CONVERT IDEAS INTO INNOVATION?
HOW CAN MY ORGANIZATION INABILITY TO MOBILIZE RESOURCES FOR INNOVATION?
HOW CAN MY ORGANIZATION REMOVE INDIVIDUAL AND ORGANIZATIONAL BARRIERS TO CREATIVITY AND INNOVATION?
HOW CAN MY ORGANIZATION CREATE APPROPRIATE ORGANIZATIONAL FRAMEWORK FOR INNOVATION?
ACE Corporate Innovation Consultancy Service
ACE provides specialized consultancy on removing barriers to creative thinking and creating an organizational climate that promotes creativity and innovation. Using Creative Management Methodology, it enables corporate clients to strategize effectively and synergistically create an enabling framework suited to their innovation requirements.
ACE will provide a comprehensive understanding of inputs, process and output dimensions of innovation
ACE can help to understand resource requirements for innovation, relating to budgets, human resources and technology
ACE will aid in understanding and removing Individual and organizational barriers to creativity and innovation
Utilizing the Entrepreneurial Architecture framework ACE will assist in creating an entrepreneurial culture and structure suitable for innovation
Technology never stops evolving. Entrepreneurs, technopreneurs and startups that are not in sync with the technology struggle to compete and run the risk of failure.
What is the right digital solution for my venture
How can I get access to the technology I want
How can I build customized software solutions for my venture
How can I leverage my technology innovation
Consultancy on Technology Innovation
The technology innovation consultancy provides you with the right digital solutions to cater to your needs, which includes cloud computing, artificial intelligence, machine learning and robotics.