IncubateUSC funds student ventures
Starting a business is no easy feat. It involves planning, making key financial decisions and completing a series of legal activities. Though every entrepreneur wishes their startup could be an instant winner, sometimes people need a little help. IncubateUSC is one place they can turn to.
IncubateUSC is a community of experienced students, staff, faculty and mentors on campus dedicated to providing resources that help students build great businesses.
With so many startup resources and incubator programs being offered on campus — including SparkSC, Startup Garage and D-Health Lab — Incubate USC streamlines the process by compiling all these campus resources on their website and also offering startup services like mentorship and support.
“Having seen and met with so many startups in the past year who all had similar needs, it just seemed logical to create a single online destination to point people to that would navigate Trojans through all the resources USC has to offer,” Jay Chang said, one of the main venture consultants at IncubateUSC.
By consolidating the useful resources for starting up a business, IncubateUSC serves as a single portal for entrepreneurs to use. Whether it is securing funding for a venture, seeking pro-bono legal assistance or getting an experienced advisor or mentor for professional advice, IncubateUSC has catalogued all these different resources from across campus and throughout the L.A. area to help venture-bound Trojans.
IncubateUSC provides two main services: free consultations and different start-up events and competitions to facilitate startup networking. The service that many entrepreneurs find most useful is its free consultation services.
Through its consultation services, entrepreneurs with ideas for a business venture can set up appointments with one of their venture consultants. After several appointments, students can get advice on where to get started and accomplish major startup tasks like putting together a business plan and learning how to speak with potential investors.
Most of the students who have sought the help of IncubateUSC just have a great business idea, while some already have a prototype for their business concept said James Bottom, the director for IncubateUSC. Nevertheless, within just the first meeting, students can emerge with a business plan and strategy all for free.
“No matter what stage of your venture, we pair you with a venture consultant with relevant experience or understanding of your business concept and help guide you through growing your venture,” Bottom said.
The venture consultants at IncubateUSC are composed of staff, faculty and mentors who are on and around the USC campus seeking to expand the next generation of startups at USC. Many of these resources are free because of provisions by USC and from collaborations with big companies.
“We also have partnerships with companies like IBM, Amazon, Google and more, providing thousands of dollars in credits for services,” Chang said.
Since its inception a few semesters ago, the program has reached out to nearly 4,000 students and worked with several active startups. IncubateUSC seeks to reach out to more students and alumni this semester.
Some of the wide variety of startups that IncubateUSC has worked with in the past include Freeform Labs, a company producing design software using virtual reality technology, Pulp Pantry, a healthy food company, and Sayy, a decision-making app.
IncubateUSC is seeking out more people with great ideas by highlighting its entrepreneurs via a series called “Startup Secrets.” The series will highlight the successes and students that have come out of the program and others on campus.