The importance of supporting startups and young companies is increasing in the context of a rapidly developing global market and innovative technologies. The Hi-Tech Park (HTP) business incubator plays a significant role in this process in Belarus. Created to promote the development of the IT industry and entrepreneurship, HTP has become a natural platform for startups, providing them with the necessary resources and conditions for successful growth and scaling. In this article, we will look at the main functions and services of a business incubator and its impact on the startup ecosystem in Belarus.
What is a HTP business incubator?
In 2015, the business incubator of the Hi-Tech Park of Belarus held the first set of high-tech startups. This created a platform for the development of Belarusian IT startups. The selected companies were assigned personal mentors, provided with legal and informational support, business training from top managers of companies-residents of the Hi-Tech Park, preferential rental of premises in the HTP business incubator, and assistance in attracting venture investors.
To get into the HTP business incubator, companies had to meet specific criteria:
1. At most, three years have passed since the state registration of a company (individual entrepreneur) in Belarus.
2. The types of activities correspond to those allowed for HTP residents.
3. The company develops its products or services.
Initially, six companies and one individual entrepreneur were selected. The subjects chosen for the business incubator were not residents of the Hi-Tech Park.
Today, the HTP business incubator is a physical space in a coworking space, a free place to work on a startup project, and practical support for the startup team by the Hi-Tech Park business incubator team.
In fact, IT teams in a business incubator have a chance to grow from startups to residents of a high-tech Park.
Main functions of the HTP Business Incubator
The main functions of the HTP business incubator, which helps IT companies implement their projects, include:
1. Provision of infrastructure and resources.
The business incubator provides companies with access to office space, equipment, communication services, and other necessary resources. This allows startups to focus on developing their products and services without wasting time and resources on finding and renting space.
2. Training and consultation.
The business incubator organizes training programs, seminars and master classes for aspiring entrepreneurs. The incubator’s specialists also provide and organize individual advice on business, marketing, finance and other aspects of company management.
3. Support in attracting investment.
The business incubator helps companies attract investments from venture funds, business angels, and other investors. It can provide information about potential investors, help prepare a presentation, and conduct negotiations.
4. Assistance in the commercialization of projects.
The business incubator helps to ensure that the company’s projects are implemented and bring profit. The incubator can organize meetings with potential customers, partners, and other interested parties to do this.
5. Create a community.
The business incubator unites resident companies in a community where they can share their experience, knowledge and resources. This helps startups grow and develop faster.
6. Brand promotion.
The business incubator promotes the brand of the Hi-Tech Park and its residents among potential customers, partners, and investors, helping to increase awareness of companies and their products.
Thus, a business incubator is essential for supporting and developing innovative companies. It helps startups overcome the difficulties of the initial stage and become successful market participants.
What support do IT teams get in the HTP business incubator?
In the Hi-Tech Park business incubator, IT teams get a free place in a coworking space to work on implementing their ideas and projects, as well as practical support from mentors and trackers, many of whom are top HTP resident companies and members of the business incubator team. In a coworking space, there is live communication that brings together IT community members. Favorable conditions are created in this atmosphere to develop and monetize new projects.
The business incubator offers networking and hypothesis testing for IT startups using the expertise of business incubator team members and other IT teams.
In the business incubator, you can form a new team to work on a new project and find professionals in the field of non-standard challenges.
Members of the business incubator can consult with well-known law firms to develop a package of documents and improve their skills in presenting their projects to investors.
The business incubator helps not only IT startups.
Today, not only IT startups can receive information support from the business incubator team. The HTP business incubator holds thematic events from the best Belarusian experts in areas of interest to IT teams. Events are held offline and online. You need to register to attend. For those who cannot physically attend, the business incubator has created a YouTube channel where you can watch the broadcast and recording of the event.
The business incubator team invites expert speakers on various topics that may interest IT teams and others. Here are some of the topics of the seminars that have already been held:
- The practice of using AI in business processes.
- Promotion 1S business in PS on Google.
- Lesta Games: community management in game development.
- Innovations in the legislation in terms of working with electronic document management.
What help can the business incubator team provide?
The business incubator team provides information support to IT startups, as it interacts with more than 1000 companies and residents of the Hi-Tech Park. Employees and top managers of these companies are ready to share their expertise and accumulated experience.
Thanks to cooperation with leading law firms, the business incubator team can direct IT teams to the right specialists in the legal field.
Cooperation with the Association of Trackers and Business Consultants makes it possible to invite experts in building and developing business processes. Thanks to trainings conducted by the association’s experts, IT startups get the opportunity to:
- Develop efficiently in the business environment.
- Find and attract specialists to solve various problems that arise before business entities.
- The business incubator team collaborates with IGROW Centers of Attraction, a coworking space network that is part of the Belagroprombank ecosystem. Thanks to this collaboration, IT teams that are members of the business incubator have access to free events from leading experts. You can not only work in IGROW spaces but also hold meetings, seminars, and webinars.
How does the HTP business incubator affect the startup ecosystem in Belarus?
The business incubator of the Hi-Tech Park (HTP) in Belarus has a significant impact on the country’s startup ecosystem.
1. Creating an infrastructure
HTP offers the necessary infrastructure for startups, including coworking space, access to the Internet and other resources, which makes it easier to start and develop a business.
2. Educational programs
The incubator conducts various trainings and master classes to help young entrepreneurs develop the skills and knowledge necessary for successful business operations.
3. Mentoring and mentoring
HTP provides startups access to experienced mentors and experts who can share their knowledge and experience, helping new companies avoid common mistakes.
4. Networking and contacts
HTP contributes to creating a network of contacts between startups, investors, and other ecosystem participants, which is essential for exchanging ideas and attracting investment.
5. Access to finance
The incubator helps startups find funding through connections with venture funds, investors, and other financial institutions, which is critical for business growth and expansion.
6. Tax benefits and legal support
HTP provides an opportunity for IT startups to receive tax benefits and legal support for HTP residents in the future, making doing business more profitable.
7. Innovative projects
The incubator supports innovative startups, promoting the development of new technologies and services, which stimulates the country’s economic development.
8. Export potential
HTP helps startups prepare for entering international markets by providing knowledge about global trade, marketing, and other aspects.
9. Creating a community
HTP unites startups, investors, and experts in one ecosystem, creating a supportive community that promotes the exchange of ideas and collaboration.
10. Attract talent
Thanks to several favorable conditions, HTP attracts highly qualified personnel, which contributes to forming a solid team for startups and increases their competitiveness.
11. Successful examples
The success stories of startups that have passed through HTP inspire other entrepreneurs and confirm the effectiveness and relevance of the ecosystem.
In general, the Hi-Tech Park business incubator significantly strengthens the startup ecosystem in Belarus, increasing their chances of success and contributing to developing an innovative economy in the country.
How to contact us
For more information or advice on issues related to HTP business incubator in Belarus, do not hesitate to contact us. We are here to help and support you.
Phone and email communication options are available for your convenience:
- +375293664477 (WhatsApp/Telegram/Viber);
- info@spex.by.
