Nurturing Young Minds
Many college students think of starting their own business at one point of their studies or another, but these ideas rarely materialize. Still, there are exceptions.
Medical academy students Nina Jakubiak and Justyna Marszałkowska have gotten off to a fine start in business thanks to the Academic Business Incubator (AIP) system. Their firm, PRO-Linea, provides special dietary programs for patients in Warsaw hospitals and also provides diet advice for other individuals.
"We wouldn't have made it without our business incubator and its assistance in promotion, winning orders, financial advice and feasibility study," said Jakubiak. "A group of specialists made sure we made as few mistakes as possible."
The incubator provided Jakubiak and Marszałkowska with office space and equipment, but it also offered consultation and advice at every stage of establishing the firm. As a result, today the two students are ready to do business on their own.
Poland's first academic business incubators were launched just over two years ago. They enable young people under the age of 30 to start a business at a minimum cost and with as little time, effort and risk as possible. Young entrepreneurs do not need to have premises of their own or a fat wallet. A good idea is enough.
The AIP helps them deal with the most troublesome matters, including a feasibility study, registering the firm and bookkeeping. It also offers many opportunities for the young firm to develop dynamically.
"We create a favorable climate for the development of entrepreneurship among young people," said AIP President Dariusz Żuk. "There are more than 20 business incubators at leading institutions of higher education in Poland. They offer a package of innovative services for firms: from accounting and financial settlements to legal advice, subsidies and loans," said Żuk.
AIP firms do not need to register on their own, which reduces the expenses involved and red tape, and also exempts these firms from the need to pay social insurance contributions, which are a particular burden for start-up firms.
Budding entrepreneurs obtain office space for their own use, equipped with machines such as telephone, fax and computer with internet access. AIP firms are free to use the services of a staff of legal, financial and economic advisers.
The AIP takes care of the necessary funding, including subsidies, grants and loans as well as financing from venture capital funds and "business angels"-high net worth individuals who invest in businesses, either on their own or as part of a syndicate. The AIP also takes care of the accounting and organizes training courses for entrepreneurs. It helps them win orders and teaches them how to obtain co-funding for their business projects. It also supports AIP firms in advertising and promotion.
The AIP promotes entrepreneurship through nationwide projects such as "Support Young Business" and "Enterprising Poland."
Twenty-three AIPs operate across Poland, bringing together thousands of young, ambitious and well-educated people. Business incubators enable them to combine theoretical knowledge obtained in college with practical knowledge that they can only gain in the process of running their own business. Thanks to the incubator, the young people become professionals in their respective fields. So far, 500 firms have "hatched" in the incubators nationwide.
AIP firms also receive support from the Business Centre Club, a leading business organization in Poland. The BCC helps match up business partners and helps entrepreneurs win orders and make their innovative projects commercially viable.
In June, the AIPs began to work together with the SOHOFinance company. The cooperation program was officially launched at a conference held at SOHOFinance's Warsaw headquarters.
The conference marked the start of a series of meetings dedicated to "doing business in a professional way." During the event, Robert Rogala, a member of SOHOFinance's management board, offered assistance to nascent entrepreneurs in financial consulting. He also told them about other institutions ready to support them and the terms of this assistance.