Innovation Center for Entrepreneurship (ICE) housed in RAKABNK 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 ICE by reducing or eliminating stress and risks associated with new venture creation and gives them the confidence to build startup ventures.

ICE offers a range of ICE 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

Accelerator service

Helps to bring ideas to the market. Operationalizes most of the elements of the business plan. Supports in setting and launching a new venture

Incubator Service

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

Corporate Innovation Consultancy Service

Provides consultancy on technology and digital solutions suited for new or existing businesses.

The Problem

Most of the startup ventures fail due to poor ideas, weak feasibility and insufficient viability. Business plans that are created for that purpose, but are unable to provide an objective evaluation of the business proposal. The entrepreneur.com reports that most of the business plan are poorly written, vague, and unrealistic. As a result, execution of business plans without an effective evaluation process increases business risk and chances of failure. Key questions that beg answers are:

What key metrics should be part of A business plan?
HOW CAN OBJECTIVE AND QUANTITATIVE MEASUREMENT OF A BUSINESS PLAN HELP ME TO MAKE MY DECISIONS?
How can I know about readiness level of my proposed venture?
Can someone give me specific recommendations?

The Solution 

ICE Business Plan Evaluation Service

ICE provides cool solutions to these problems. Using a patented Business Intelligent System designed to provide an objective evaluation of business plans, ICE provides a number of valuable services related to this problem.

Students and entrepreneurs have brilliant ideas, but are unable to execute them due the challenges and risks associated with new venture creation. Forbes reports that many good ideas remain dormant because potential entrepreneurs don’t have the courage, resources, time and/or money to take action.
ICE HELPS YOU UNDERSTAND THE METRICS RELATED TO DESIRABILITY, FEASIBILITY, SCALABILITY AND VIABILITY OF PROPOSED VENTURES. IT WILL WORK WITH YOU ON ONE METRIC THAT MATTERS THE MOST (OMTM)
ICE will provide you with an objective and quantitative score on all metrics of your proposed venture including an overall score
ICE WILL HELP YOU TO UNDERSTAND THE READINESS LEVEL OF YOUR PROPOSED VENTURE ON CONTINUUM RANGING FROM'NOT READY' TO 'FULLY READY'.
ICE WILL PROVIDE YOU A SET OF RECOMMENDATIONS ON EACH OF THE KEY METRICS AND INDICATE OVERALL READINESS LEVEL OF YOUR PROPOSED VENTURE

The Problem

Most of the startup ventures fail due to poor ideas, weak feasibility and insufficient viability. Business plans that are created for that purpose, but are unable to provide an objective evaluation of the business proposal. The entrepreneur.com reports that most of the business plan are poorly written, vague, and unrealistic. As a result, execution of business plans without an effective evaluation process increases business risk and chances of failure. Key questions that beg answers are:

WHAT ARE KEY OPERATIONAL DECISIONS RELATED TO MY NEW VENTURE?
HOW TO GARNER SUPPORT AND RESOURCES FOR MY PROPOSED BUSINESS?
Where to find funds and what is appropriate financing structure for my venture?
How to compete and protect my business?

The Solution

 

ICE Acceleration Service

ICE enables students and entrepreneurs to achieve their dreams by creating an acceleration path to the market.  Through the use of Design Thinking and Lean Start-up Methodology entrepreneurs are guided in operationalizing their business plans. Entrepreneurs are assisted in planning, networking, licensing, funding, promotion, intellectual property, and launch.

ICE will guide you to execute key operational activities before, during and after the launch of the venture.
ICE will assist you to network with key stakeholders, related to your business domain.
ICE WILL HELP TO FIND FUNDING SOURCES AND SUGGEST APPROPRIATE FINANCING STRUCTURE.
ICE WILL ASSIST YOU IN YOUR APPLICATION FOR PROTECTION OF INTELLECTUAL PROPERTY.

The Problem

Starting a new venture is only half the battle won, to keep it running and grow the business is another challenge and many consider it a bigger challenge than starting a business. According to the Small Business Administration (SBA), 51 per cent of the startup ventures do not survive beyond 4 years. In the absence of a fertile ground, startup companies struggle to grow and survive. A report from National Business Incubation Association in the United States of America, states that startups that went through incubation services have survival rate of 87% while the survival rate of firms without an incubator support dropped to 47 percent.

HOW DO I FOCUS ON GROWING THE BUSINESS? HOW DO I USE MY TIME MORE PRODUCTIVELY AND REDUCE COSTS.
HOW CAN I HAVE ACCESS TO A CONSULTANT OR AN EXPERT FOR REAL TIME DECISIONS?
What strategies can I use to scale my business?
How can I find cost effective resources particularly human resource?

The Solution

 

ICE Incubation Service

ICE Incubator service allows entrepreneurs and startups to experiments, take further risks and make mistakes. Using the Fast Failure Methodology, ICE incubator allows entrepreneurs to be free from mundane tasks and become more productive using creative energies for the growth of the company.

ICE will provide you with office space with internet connectivity.
You will have real time access to ICE consultants and experts
ICE will guide with growth strategies related to organizational structure and financing
ICE will provide you access to students who can work part time with your venture

The Problem

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?

The Solution

ICE Corporate Innovation Consultancy Service

ICE 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.

ICE will provide a comprehensive understanding of inputs, process and output dimensions of innovation
ICE can help to understand resource requirements for innovation, relating to budgets, human resources and technology
ICE will aid in understanding and removing Individual and organizational barriers to creativity and innovation
Utilizing the Entrepreneurial Architecture framework ICE will assist in creating an entrepreneurial culture and structure suitable for innovation

The Problem

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

The Solution

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.

The consultancy service will assist you in choosing and developing the right solutions
The consultancy service will help you to access or source the technology you need
The consultancy service will help you to develop or source software solutions for your venture
The consultancy service will assist you to convert the innovation into a viable business proposition