Questions & Answers
Who is Turbine?
Turbine is a co-working space and a start-up incubator in Mauritius. Launched by ENL Group in 2015, Turbine acts as a catalyst for entrepreneurs helping them convert their ideas into successful and sustainable businesses. Turbine is a national accredited incubator by the Mauritius Research Council (MRC).
What is a business incubator?
A business incubator accompanies start-ups in developing their business idea by providing services such as business coaching, office space, access to useful network and tailor made workshops.
Why would I need to be incubated?
More than 90% start-ups fail before the second year of operation. An incubator increases significantly the chances of success by helping you develop your business idea in a sustainable manner.
We will help start-ups to go through their:
1.Business Development: We assist our startups with developing the correct business model, tailoring their customer focus, value proposition and advise them on methodology to increase retention.
2.Sales and marketing: Startups receive feedback on their go-to market strategy, optimization of sales through enhancing their marketing strategy , shortening their sales cycles and help them devise systems that increase their conversion rate.
3.Product development: Our coaches help startups identify important features to which development time should be allocated. They also assist in implementing procedures to test their product and understand when to make use of existing libraries and open source facilities available to them and when to develop from scratch.
4.Key metrics: It is important for startups to identify their principle goals and metrics in order to ensure the sustainability of their company. Our coaches help incubates to define their goals and metrics as well as help them align their short term goals to their long term goals.
5.Process: We give our startups feedback on how to develop efficient processes that optimize the progress rate of their company.
6.Financing: Often times, a business needs funding in order to further its development. Turbine helps its incubated enterprises assess their company’s worth, their required funding and when to attempt to raise it. We also help our startups identify investors when it is possible.
7.Team and individual development: Different businesses require different skill sets. The Turbine team will help businesses identify,
What additions to the team are most important? How should we find them? How do we need to develop ourselves to increase the company’s speed?
8.Order and structure: Do we have a stock register, shareholder agreement, balance sheet, bookkeeping etc.?
What are the other benefits of Turbine Incubation?
1.Business coaching: you will have a dedicated business coach who will work closely with you and your team on a weekly basis. The coach will be always involved in the important activities and help you set and achieve your milestones.
2.Access to Network: you will be put in contact with experts and professionals from the ENL Group which will allow you to expose your business idea to get concrete feedback based on their experience. This access to network can potentially lead to business contracts or partnerships.
3.Co-Working space: you will benefit from free access to our co-working space (including all amenities) located in Vivéa Business Park, Moka for the first 6 months of Incubation Program. This will help you start your business without fixed cost.
4.Access to Finance: you will receive assistance in preparing your business plan, your revenue model and your pitch to present your business in front of potential investors such as Turbine’s sister company Compass Venture Capital.
5.Workshops: you will be enrolled in tailor made workshops organized by Turbine and delivered by renowned experts. These exclusive workshops shall enrich your entrepreneurial knowledge and capacity building.
How Turbine sustains itself?
Turbine is a non profit company currently supported by ENL Group. When a start-up is incubated by Turbine, we sign a share option agreement and the start-up agree to give 10% of equity of its start-up. Being an accredited business incubator, we also receive grants from the MRC to meet partly the cost incurred for each incubated start-up.
What are the selection criteria for incubation?
The main selection criteria are innovation, scalability and dedication of the team working on the project. We are looking for ambitious project with international growth potentials.
How many start-ups Turbine has incubated?
Since January 2017, Turbine has incubated 7 startups which are:
- Dodo Work Play – learning through gamification
- Mauritius Conscious Ltd – Tour Operator of Sustainable Eco-Tourism
- Fundkiss Technologies Ltd – 1st crowd lending platform in Mauritius
- Fancy Dreams Ltd – Creative and personalized luxury packaging.
- NavigPro Ltd – corporate transport service company through a mobile application
- Létour – provide authentic Mauritian experiences to foreigners
- AVR Plato Technologies Ltd – modern learning platform through Augmented Reality.
Who are your coaches?
The dedicated coaches are Anne Laure Marchyllie, the general manager of Turbine, Diane Maigrot, the start-up and business developer of Turbine and Fabrice Boullé, director of Turbine and Partner at Compass Venture Capital.
The coaches received a full fledge training by Sting (Stockholm Innovation and Growth) who is the leading accelerator and incubator in the Nordics since 2002.
What is Turbine’s methodology?
We believe in “fail fast, fail forward”. Dare to try things that do not work perfectly: Create a prototype (MVP), measure usage and compare to quickly move towards the operation and business models that work. Speed is the key. Our methods are best characterized as “lean” and iterative.
The main methods and tools are “Lean Startup” and “Lean Canvas”. Our coaching is always based on “pull” rather than “push”, i.e. it’s the coach’s task to help you find and decide what is the right way forward/focus/priorities etc, rather than telling you what s/he thinks you should do. You’re always in the driver’s seat!
Do you offer seed investment and if so how much exactly?
There is no automation of seed funding investment. We work conjointly with “Compass Venture Capital”. Incubated start-ups can have the opportunity to pitch to Compass to receive seed funding (up to Rs 1 million).
If you are interested to join our Incubation Program or if you have any other query, please contact us.