We have tried to provide all the information in one place. Your first test as an entrepreneur is to know about the rules of the game.
IdeaGist is the world’s largest virtual incubator for people with ideas. It is in use by 28,000+ users from 300+ communities worldwide. If you have an idea that can make a difference, solve a problem, or help people improve their lives and the lives of others, IdeaGist can help. It doesn't’t matter if your idea provides social benefits or commercial gains, you can use our incubator to launch it.
We all come up with ideas, but coming up with an idea is not a ticket to success unless it’s put into action. There are many challenges idea makers must overcome in order to convert their ideas into a successful business. Some common challenges that often hold us back include the intractable inner dialogues you may be able to relate to, such as:
- I am good at what I do but I am not an expert in every aspect of running a business.
- I am ready to work on my idea but there is no incubator in my home town, it is full, or too far.
- My idea is not very clear, I don't have a great idea, or I am not sure if I can start a business based on my idea.
- I rely on my paycheck and leaving my job to work on an idea is not a risk that I can take.
- I don’t have enough money to start a business.
- I have had great ideas in the past, which were later on executed by someone else, but was never able to act on them.
- I have a great idea and all I need is …. (fill in the blank—an investor, a programmer, a developer, an app developer, a marketing person, etc.)
IdeaGist Virtual Incubator offers freedom from all of the above constraints and gives you an opportunity to prove that your ideas are good.
IdeaGist offers a lean process with three key stages of development that can be used in multiple iterations:
During the Think stage, you will be tested for your determination and will give you a solid foundation to build your startup. Outcome of the Think stage is clarity on Product/Market Fit with a fully vetted value proposition. We encourage people to put ideas on the backburner, if their time has not come, or drop ideas that cannot be realized by you.
During the Execute stage, you will develop a plan for a minimum viable product, in consultation with your potential customers. Outcome the Execute stage is either a minimum viable product or a design that can be used as a recruitment tool.
Final stage ts Launch. During the Launch stage, you will be developing sustainable business models to scale your business from few clients to a point where it can work as a regular organization, be it for commercial purposes or social causes.
IdeaGist process is designed to:
- Focus on action
- Apply lean practices to engage customers early on
- Help you protect yourself from major mistakes that entrepreneurs regularly make
- Give you a trusted path that you can follow at your own pace, covering all aspects of planning
- Develop your idea to the maximum possible advancement, within the resources that you have
- Drop your idea successfully as early as possible to avoid too much investment in ideas that may not get anywhere
Here is a short video to see how IdeaGist guides you through a step-by-step process.
IdeaGist Global Incubation Program
IdeaGist Global Incubation Program is designed to help a large number of people with innovative ideas in launching their startups. We are currently accepting applications from entrepreneurs with early-stage ideas. If you already have a product developed, this program may not help you much.
IdeaGist is different from regular incubators and accelerators in many ways:
- IdeaGist Global Incubation Program does not take any equity in your idea.
- We don’t expect you to leave your job to be part of our program
- You can live where you are, we don’t ask you to relocate to our office in Minneapolis, USA
- Our focus is more on action instead of building business plans at such an early stage
- We accept ideas at the earliest stage when no one else is willing to bet on you
- Dropping an idea for valid reasons or pivoting it is considered success on IdeaGist platform
Our selection process is simple. We give you the tasks and see your work. There is no one judging your idea and there no one to babysit you. You can change your mind, learn, pivot, all what you like, ultimately, your results will speak for themselves.
We will look at the quality of your profile, adherence to the program rules, discipline to follow the timeline, respect to your mentors, willingness to provide updates, speed of your responses, and many other indicators that will tell us that you are serious. We would like to see you making decisions independently and taking control of your own work, propelled by your own desire to succeed.
Benefits of IdeaGist Global Incubation Program
- Action focused process that based on experience of 100s of entrepreneurs and entrepreneurial experts
- Templates and learning resources at each step of the process
- Idea Privacy to ensue that only you and your trusted people can see the details
- Team management including Non-disclosure agreements
- Co-Founder Listings to find good team members for your idea
- Social networking features to help you develop a support network around your ideas
- Experienced mentors to help you when you get stuck and to keep you motivated. Mentors will be assigned only to the entrepreneurs that have successfully completed Think Stage.
- Opportunity to present your idea through our global investor pitch program.
- Six online training sessions to cover the whole incubation process and topics that are important to learn.
Learn more about how IdeaGist can help at https://blog.ideagist.com/great-ideas
Join our Global Portal for free at https://global.ideagist.com
Program Rules, Terms, and Conditions
If selected for the program, you will be required to:
- This program is offered for free. IdeaGist does not take any equity in your startup or idea either.
- Acceptance in the program will not require spending any money on IdeaGist.
- You must follow the process, completing the think stage in 180 days. After completing the Think stage, we will provide you with mentors to help you with Execute and Launch stages.
- Attend all online training sessions.
- Keep your mentor and IdeaGist system up to date on your progress, even if you were not able to work on the idea lately.
- Be respectful and appreciate the guidance provided by your mentors.
- Ensure that you consistently work 10 hours per week on your idea. It is your idea and without you, it will not go anywhere.
- Be in the driving seat. You are embarking on a journey to become a successful entrepreneur. This requires independence, discipline, grit, and flexibility.
- You will need to keep an eye on your own progress and ask for help if you are stuck.
- IdeaGist is not an investment company and does not promise any investment in your idea.
- IdeaGist is not a business plan generator, it is your practical guide to develop your ideas.
- IdeaGist management team can expel any participant with or without cause.
- If you are missing trainings, not providing progress report or not completing tasks on time, IdeaGist reserves the right to ask for a refundable security deposit of $200 or expel you from the program.
On IdeaGst, we take idea security very seriously. We also would like you to protect yourself from someone stealing your ideas. Here are few short readings that will help you understand idea secutiy.
- 3 Ways to talk about your big idea without giving it away
- How secure is my idea on IdeaGist
- How to save yourself from the idea thief
Application Process (Please complete following steps before January 22, 2018)
- Login or Register on https://ideagist2018.ideagist.com. If you are already registered on IdeaGist platform, you can simply login using your IdeaGist credentials.
- Make sure that you have a profile picture, a good profile summary and your IdeaGist profile is linked to your LinkedIn profile.
- Add your idea by clicking on Idea from the menu and selecting Add Idea. Click here for a short video on how to add an idea.
- After adding the idea, complete Step 1, 2 in the Intro stage, and Step 1 through 3 in the Think Stage. Click here for a short video to understand IdeaGist Incubation Path.
Applications accepted in the first round will receive an invite to join the kickstart meeting. Kickstart meetings will be scheduled on February 3, 2018.
To succeed, bring ideas, determination, persistence, courage, and self-discipline.