Since 2012, 1Mby1M has worked with partners who are looking to extend their footprint in the entrepreneurship and innovation eco-systems around the world. Based on those pilots, we have created the 1Mby1M Incubator-In-A-Box program. With this, corporations, governments, incubators and accelerators can easily, rapidly, and affordably launch an incubator or an accelerator in any part of the world. Also, the rich curriculum, extensive mentoring, and deep Silicon Valley connections provided by 1Mby1M can seamlessly be added to existing programs for higher impact.
Here Sramana Mitra explains Incubator-In-A-Box (IIAB), our core partnership platform.
In this video, Sramana Mitra discusses Oracle’s intrapreneurship program powered by the 1Mby1M Incubator-In-A-Box program:
Choose the scale at which you wish to start. You can incubate 5, 10, 25, 50, 100, or 200 entrepreneurs. Entirely up to you.
You can go global right away, something only a virtual incubator platform can do. Or, choose one or more locations as you wish.
The 1Mby1M platform will provide the base-level incubation to these entrepreneurs through the Premium Program. This includes online curriculum, mentoring / strategy consulting, introductions to customers, channel partners, investors, and access to the 1Mby1M media and social media channels.
You can add any amount of additional resources on top, including funding, real estate, mentoring, network, legal services, accounting services, AWS credits, Google credits, Azure credits.
1Mby1M will also help you screen the best performers from the incubation portfolio for you to invest further resources in, after a few months of incubation. This may include funding that you want to offer to a select set of top performers in the portfolio.
Corporations: Interest in participating in the innovation eco-system in different parts of the world is a trend that is hard to miss. Another clear trend is that many companies are marketing platforms, and nurturing entrepreneurs developing on their proprietary platforms is of great interest to them (example: Microsoft Azure, SAP HANA, etc.). We also see interest in creating a pipeline of early stage concepts and talent that may lead to either investment and/or acquisition – including talent acquisition. Finally, we see exciting projects in the domain of corporate incubation to nurture intrapreneurship and internal innovation. The 1Mby1M Incubator-In-A-Box addresses all these needs.
Incubators & Accelerators: We are also able and willing to work with incubators and accelerators who want to scale their operations and cater to larger numbers of entrepreneurs, or expand their geographical footprint. In addition, for incubators and accelerators outside Silicon Valley, we offer a compelling bridge into Silicon Valley. Finally, our curriculum is powerful and proven, and our mentoring program is celebrated around the world. You can easily plug all of these to your own offerings and dramatically improve your program’s impact.
Governments: All governments have realized by now that the greatest source of economic prosperity is local entrepreneurs. Hence, countries, states, regions, cities are setting up their own incubators and accelerators to support them. Economic development agencies in various countries, states, cities are actively working on building entrepreneurship eco-systems around the world. 1Mby1M works with government incubators and ED agencies anywhere in the world and helps them gain access to Silicon Valley’s eco-system and methodology. 1Mby1M also offers scale to government incubators who often have limited capacity. To develop a community into a thriving entrepreneurial hub, hundreds of entrepreneurs need to be nurtured. By partnering with 1Mby1M, governments can vastly expand their capacity to support a larger number of entrepreneurs. 1Mby1M also offers reach. If a government incubator is headquartered in one city, and wants to open additional branches in five other locations, it is easy to do so with 1Mby1M because of the virtual structure of the program.
The 1Mby1M Incubator-in-a-Box costs $1000/entrepreneur/year. So, if you incubate 50 entrepreneurs with us, that would cost $50k for a year.
We do not take ANY equity, making us the most entrepreneur- (and investor- ) friendly incubator program on the planet. Most incubators take 5-10% equity.
The ROI we deliver is equivalent to $375k + 5-10% Equity per entrepreneur.
We do charge consulting and administrative fees depending on the scale of the program and the support you require.
Note: Here are a few videos explaining the 1Mby1M program in more depth:
RELATED READING: In the summer of 2015, I spent half a day with approximately 40 Fortune 500 Chief Innovation Officers at Xerox PARC, and discussed our experience with corporate innovation methodology through the 1Mby1M Incubator In A Box program. A few months later, Jim Euchner, the CIO of Goodyear, interviewed me for the Research-Technology Management journal, which you can download here.