Bootstrapping an Incubation Program
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Before you can build an incubation program within your company, in addition to great ideas, you will need at least two things: Buy-in from stakeholders across the company and enough funding to be successful. Incubating new businesses is not something you can rush—there are no quick wins. This means the commitment you get must be sustained for a long enough period of time to build demonstrable value from your incubation program before you lose the hearts and minds of your executives. These two fundamental requirements are intertwined. You will need buy-in to get funding and you will need funding before the broader company will be willing to buy in. In other words, you need to bootstrap the program.