Nice....120K per year for 2 fulltime staffs to do admin....do you
accept foreigner? And $15 allowance for daily lunch....must be
delicious :) Just kidding, ha. I can understand the need to set that
amount e.g. staff welfare, training and such.
but why charge 20K from the miserable 50K grant from startup? And what
happen to those that did not get funded?
The investment according to the cost model is about 70K+ per startup
for this form of coaching. Do you think that is worth it?
Since HH is for-profit, what is its business model?
On May 20, 1:20 am, Meng Weng Wong <
mengw...@gmail.com> wrote:
> The Mengcubator***(working title, previously HatchHouse)*
>
christoph.zren...@insead.edu
>
mengw...@pobox.com
> 20090520
>
> *Mengcubator is more than just an incubator: startups work and live together
> in an atmosphere of unusual intensity and structure. During a 4 month
> bootcamp, we help Internet startups take an idea to prototype, launch, and
> revenue, so they can meet milestones necessary for Series A funding.
> Founders may enter Mengcubator with little more than an idea; we define a
> goal, ease the path, and minimize distractions. For example, we help them
> quickly raise S$50,000 startup capital and we provide a community of
> engineering and business talent. Short half-day courses by experts remind
> founders of the bigger picture.** An entrepreneur-in-residence acts as a
> coach to keep companies focused.** We are for-profit, and we offer a
> co-operative ownership model so each company in a batch owns a small portion
> of its peers. At the end of the term, we convene investors for a group
> pitch.*
>
> IHL involvement:
>
> - Phil at INSEAD has offered to design the academic component of the
> curriculum.
> - EIRs, alumni, students, and faculty are invited to give half-day
> classes.
> - Companies that win business plan competitions are invited to
> participate
> - Any alumni who want to do an Internet startup after graduation are
> informed that Mengcubator is one available resource among many
>
> Model ValidationHH was inspired by Paul Graham’s Y Combinator. YC has, by
> analyst estimates, already broken even through acquisitions. YC differs from
> the traditional VC-run incubator through its batch-mode intensity, and by
> the presence of PG as YC’s full-time coach. We follow this example and
> extend it with a co-operative ownership scheme.
>
> Customer ModelStartups can come from anywhere in the world. We expect half
> to be from SG and half foreign. Typically, 2 to 3 founders, with a mix of
> business and technical skills. The concept should be fundable by iJam.
> Each batch will have six to twelve companies.
>
> Competitive Landscape and DifferentiationSingapore contains a handful of