How To Be Accepted Into a Startup Incubator in Southeast Asia

Start-up incubators are programs that provide early-stage companies with resources, mentorship, and workspace to help them to get off the ground and start growing. Incubators are typically focused on a specific industry or sector and some offer funding in exchange for a small equity stake in the start-up. If you are an entrepreneur looking to enroll in an incubator program, the following steps can increase your chance of success.

Research incubators specific to your industry or location:

Identify the incubators that are relevant to your industry and location. There are many incubators to choose from; it is important to find one that aligns with your business goals and values. You can search online directories such as AngelList or Seed-DB to find incubators that align with your business based on industry or location. You can also reach out to other entrepreneurs or professionals within your industry for recommendations.

Review the application requirements:

Once you have identified incubators that you are interested in, it is important to review the application requirements and make sure that you meet the eligibility criteria. Incubators typically have specific requirements regarding the company’s stage of development, type of business, and professional team. Deadlines and application procedures may differ depending on the incubator you apply to, so it is important to carefully read the instructions and follow them to the letter.

Prepare a strong application:

A strong application is crucial for getting into a start-up incubator. Your application should clearly articulate your business idea, the problem it solves, and the value it brings to the market. You should also describe your team, your progress to date, and your plans for growth. Including a pitch deck or a video pitch with your application can help bring your business to life.

Network and seek introductions:

Incubators often receive a large number of applications, and the competition can be fierce. One way to increase your chances of acceptance is by properly leveraging your networking skills. Seek out individuals within your industry who can introduce you to people involved with the incubator. Strive to introduce yourself to incubator mentors, advisors, and alumni. Personal introductions can help give you an edge and make your application stand out.

Be persistent:

If you are not accepted into a start-up incubator on your first attempt, don’t be discouraged. It is common for entrepreneurs to apply to multiple incubators before being accepted. Take the feedback that you receive and use it to improve your business and your application. With persistence and hard work, you can increase your chances of getting into a start-up incubator and taking your business to the next level.

 

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Consider alternative options:

The purpose of an incubator is to provide businesses with experienced and professional guidance during the early stages of their development. When looking for an incubator, you should also consider other resources that can provide similar types of guidance to your company. Avenues similar to start-up incubators include:

  • Start-up accelerators are similar to incubators but typically with more intensive programs and shorter durations.
  • Co-working spaces or business accelerators provide access to resources and networking opportunities.
  • Mentorship or advisory services help you to develop your business and gain valuable insights and guidance.

Be prepared to give up equity:

Some start-up incubators and accelerators require entrepreneurs to give up a small equity stake in exchange for the resources and support that they provide. This can be a significant decision, as it means giving up a portion of your ownership in the company. It is important to carefully consider the terms of the equity agreement and make sure that it is fair and aligns with your long-term goals for the business.

Stay focused on your goals:

It is important to stay focused on your long-term goals and continue to work hard to develop and grow your company. Incubators and accelerators can provide valuable resources and support, but your business will not thrive on the support of an incubator alone. The success of your business will depend on your ability to execute your vision, overcome challenges, and build a strong team.

Getting accepted into a start-up incubator can be challenging, but the steps outlined above can increase your chances of getting accepted into a start-up incubator. With the support of an incubator and a strong drive and commitment to your vision, you can set yourself on a path that will take your business to the next level.

2023 Essential Startup Glossary

Starting a business can be overwhelming, especially for those new to the world of entrepreneurship. One of the most common challenges entrepreneurs face is navigating the complex and jargon-heavy world of start-up terminology. In this article, we provide a brief glossary of common start-up terms that every entrepreneur should know.

Accelerator:

An accelerator is a program that provides start-ups with mentorship, resources, and networking opportunities to help them grow and scale their businesses. Accelerators are typically focused on a specific industry or sector, and often offer funding in exchange for a small equity stake in the start-up. In contrast to incubators, accelerators are short-term programs that support businesses at stages following the development of a minimum viable product. Acceptance into an accelerator is often more competitive than incubators.

Angel investor:

An angel investor is an individual who provides capital to start-ups in exchange for ownership equity. Angel investors are high-net-worth individuals looking to invest in early-stage companies. They typically provide mentorship and guidance to the founders.

Bootstrapping:

Bootstrapping is the process of starting and growing a business with little or no outside funding. Bootstrapping can involve using personal savings, relying on revenue generated from customers, or finding creative ways to finance the business.

Burn rate:

Burn rate is the rate at which a start-up is spending its available cash. Burn rate is an important metric for start-ups. It can be used to help manage finances and make informed decisions about how to allocate resources.

Capitalization table:

A capitalization table (or “cap table”) is a spreadsheet that outlines the ownership structure of a company. A cap table includes the types and amounts of equity that have been issued to founders, investors, and employees.

Convertible Note:

A convertible note is a type of short term debt that can be converted into equity at a later date, typically when the company raises a round of funding. Convertible notes are often used by start-ups to bridge the gap between seed funding and a Series A round.

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Due diligence:

Due diligence is the process of thoroughly evaluating a potential investment or business opportunity. This will include reviewing financial statements, assessing the market potential of the business, and verifying the credibility of the founders and management team.

Equity:

Equity is ownership in a company. When an investor provides capital to a start-up in exchange for equity, they become a shareholder in the company and gain partial ownership.

Exit:

An exit is an event in which an investor or founder sells their stake in a company, typically through an acquisition or initial public offering (IPO).

Incubator:

An incubator is a program that provides start-ups with resources, mentorship, and workspace to help them get off the ground. Incubators are typically focused on a specific industry or sector, and they may offer funding in exchange for a small equity stake in the start-up. In contrast to accelerators incubators are long-term programs that support startups at all stages of the development process.

Minimum viable product (MVP):

An MVP is a version of a product that has enough features to be viable for testing and validation with a small group of customers. MVPs are often used by start-ups to validate their product-market fit and gather feedback before launching a full product.

Pitch:

A pitch is a presentation that entrepreneurs use to present their business idea to investors or other potential partners. A pitch typically includes an overview of the business, a description of the product or service, and a plan for growth and profitability.

Pre-money valuation:

Pre-money valuation is the valuation of a start-up prior to raising a round of funding. Pre-money valuation is an important consideration for both entrepreneurs and investors, as it determines the amount of equity that is issued in exchange for capital.

Seed funding:

Seed funding is the first round of funding that a start-up receives. Seed funding is typically used to cover the costs of developing a prototype, conducting market research, and building a team. Seed funding can come from a variety of sources, including angel investors, venture capital firms, and crowdfunding campaigns.

Series A round:

A Series A round is the first round of institutional funding that a start-up receives. Series A rounds are typically larger than seed rounds and involve more formal terms and conditions, such as preferred stock and board seats.

Term sheet:

A term sheet is a document that outlines the terms and conditions of a potential investment. Term sheets typically include information about the amount of capital being invested, the valuation of the company, the rights and preferences of the investors, and the terms of the exit.

Venture capital (VC):

Venture capital is a type of funding that is provided to start-ups with the expectation of high returns on investment. Venture capital firms typically invest in companies that have the potential for rapid growth and a strong competitive advantage.

Facebook Marketing Tips for Small Businesses

Measuring the advertising effectiveness of a marketing campaign is the foundation for growth marketers. Using ad metrics reasonably, we can determine how well our performance is and what factors it needs to drive better results.

So, how well do you understand the advertising metrics? Explore 8 critical advertising KPIs in this article with Jenfi Capital.

What Are Advertising Metrics?

Advertising metrics, also known as KPIs (Key Performance Indicators), are standards used to measure and track the performance of digital marketing campaigns.

These indicators are measured with exact values. Through that, the marketing team will determine whether their marketing campaign has brought significant results or not. 

With the explosion of social networks, various marketing methods, and many separate tools, advertising channels, and techniques, determining advertising performance metrics is paramount to defining the victory of marketing campaigns.

The Importance Of Using Advertising Metrics 

It is very easy to lose time and money in digital marketing if you do not know clearly your goals. This happens when you use many advertising tools but do not collect and analyze metrics in each stage.

Deploying a series of advertising activities takes up as much financial as human resources. Understanding and managing advertising indicators will help us measure efficiency and use the money wisely.

Advertising metrics also help businesses determine the progress of running marketing campaigns. Also, they help figure out which campaigns are performing well and which ones need to be reevaluated. Eventually, it ensures your company is spending valuable budgets in the right way. 

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According to The CMO Survey, 72% of marketing chiefs said the “importance of marketing” has grown in their companies over the last year, but only 39% rate their strategies as effective.

Digital Marketing takes place on many platforms: Facebook Ads, Google Ads, Google Analytics or Google Sheet, CRM, etc., and each platform will have different metric standards. If you are doing online marketing campaigns on a few of them, then a good knowledge of ad indicators will help you to maximize your efforts. 

8 Important Advertising Metrics For Any Marketers 

If you want your business’ marketing campaigns to be effective, you need to pay close attention to the following 8 KPIs (Key Performance Indicators).

ROI – Return On Investment

ROI (Return On Investment) is an indicator that measures the ratio of profits earned to the costs spent on a marketing campaign. In other words, this is the ratio of the profit made to the initial cost of the investment.

ROI is one of the most important KPIs to measure the effectiveness of marketing campaigns. This is strictly the first number that you need to know. This metric helps you measure the sales revenue based on your business’s budget.

Almost every effort in marketing campaigns has the final purpose: The craving to increase the profit on the cost spent.

If the positive ROI is high, your marketing campaign is doing well. On the contrary, you need to find the right solution to immediately adjust your marketing campaign.

CPM (Cost Per Mile) – Cost per thousand

CPM (Cost Per Mile) is a metric reflecting the cost per one thousand impressions/ views on an ad. Simply speaking, if the CPM of a particular keyword is $1.00, that means you must pay $1.00 for every 1,000 impressions to show your ads for this keyword.

CPM helps you measure the performance of your campaigns within and across different platforms. For instance, if you want to place an ad banner on website A, but then you discover that website B has more potential, then you can use CPM to make cost comparisons between these media (at both stages: preparing and reviewing stage)

CPL (Cost-per-Lead) – Cost pay for 1 potential customer

CPL (Cost-per-Lead) is a metric that helps measure marketing campaigns’ effectiveness based on the leads generated. CPL focuses on the number of potential customers from marketing campaigns. The price per lead depends on the type of strategy you use for each lead generation channel.

Cost Per Lead (CPL) = Total Marketing Spend / Total New Leads 

To achieve the most accurate measurement results, the CPL needs to be combined with other factors affecting the business’s profitability. Cost per lead enables you to set the sales goals, calculate potential ROI, and determine advertising budgets.

CR – Conversion Rate

CR can be understood as the conversion rate from visitors to customers. CR is critical because it allows you to lower your customer acquisition costs by getting more value from the visitors and users you already have. 

For example, if you need $1,000 to double your website traffic at the CR of 2.5%, but you only need $500 to improve the CR from 2.5% to 5%, then the second choice makes more sense.

CRR – Customer Retention Rate

CRR is an indispensable advertising measurement indicator to evaluate whether a marketing strategy is successful or not in many ways.

Customer retention measures how successful a company is at acquiring new customers and how successful they are at satisfying existing customers. It also increases ROI, boosts loyalty, and brings in new customers.

If the CRR is higher, your campaign is well enough to satisfy your customers and vice versa.

RR (Run Rate) – Goal achievement rate

RR (Run Rate) is an indicator that reflects the speed of completing the goal of the entire campaign compared to the original overall plan. RR helps marketers identify precisely how much budget they have spent to accomplish a part of a goal. Then, decide to add a method to accelerate or maintain the growth momentum.

CLV – Customer Lifetime Value 

CLV (Customer Lifetime Value) is an indicator that reflects the lifetime value. In other words, this indicator tells you how much profit a customer will bring to you over their lifetime.

CLV analysis helps businesses see which marketing activities are the most useful in bringing in the best customers.

Customers’ economic value is not just in 1-time purchases. It lasts as long as they are buying from your company. Knowing CLV, companies can determine which customer groups will bring the most value to the company, which products customers want the most, and then fine-tune the company’s effort to retain these high-value customers.

Social Media Reach

Marketing through social networking platforms has solid viral power. If you have creative ideas that drive customer actions, the cost of social marketing is insignificant compared to the potential results.

Platforms like Twitter, Facebook, LinkedIn, and Pinterest have very high conversion rates. Using Social Media Reach metrics helps businesses measure how effectively social media contributes to online conversion rates.

In addition to these indicators, you also need to pay attention to others, such as Impression (Display Index), CTR (click-through rate); CPC (Cost per click); CAC (Cost of finding customers), etc.

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Important Notices In Measuring Digital Marketing Campaigns

Do not be complacent with “appealing” indicators

Marketing is the overall combination of many different activities. Sometimes, the indicator is stunning, but in reality, the effect it brings is trivial. Without experience in analyzing metrics, businesses are easily misinterpreted that their campaigns are running well, but the results obtained do not bring considerable impacts.

For example, a low CPL is great, but it does not mean that the potential leads can be converted into actual buyers. It just means how much money you are getting leads, and there will be many further activities to bring these leads to qualified customers.

Break down your goals into phases

An overall marketing campaign will be divided into several stages. Each stage can be organized into a small campaign. It is necessary to clearly define the overall goals and the sub-goals for each stage.

Selecting a reliable data source to measure marketing effectiveness

Many social networking platforms allow running digital ads, such as Facebook, Instagram, Youtube, Google Ads, Google Analytics, etc. These channels have different ways of calculating metrics.

Because of the data source, each channel’s metrics are different. If your business is running on Omni-channels, you need to find an experienced marketer to measure the effectiveness of your marketing in the most accurate way.

Limit the use of unnecessary data 

With a massive amount of data available with a few clicks, marketers need to determine which metrics their business is interested in. Which metrics matter to which campaign.

Regularly checking the metrics in the overview report will give you an accurate view of the status of your marketing campaign.

Choosing the right metrics really matters in digital marketing. We hope this article’s information on advertising metrics will reconcile your marketing efforts and the available budgets to reach the maximal results.