Answers to commonly asled questions have been put together for you here.
What is the value of INiTS?
INiTS advises and supports start-ups with a focus on growth and funding. Founders will benefit from a comprehensive, long-term and holistic program. Our services range from intensive consulting and coaching to the provision of infrastructure and monetary grants.
What does INiTS offer?
[Insert INiTS offering]
Who is behind INiTS?
INiTS is part of the AplusB BMVIT program. Our shareholders are the Technology Agency of the City of Vienna (ZIT), University of Vienna and Vienna University of Technology (TU Vienna).
What is an incubator?
An incubator is a program designed to enable entrepreneurs launch great ideas. Through a range of resources and services, an incubator helps accelerate and support the successful development of start-ups.
Which sectors can my idea be based on?
Examples include mechanical engineering, automation, measuring and test engineering, materials science, materials technology, information and communication technologies, telematics, electrical engineering, electronics, micro-and nanotechnology, life sciences, food technology, agriculture, forestry, veterinary medicine, public health, medicine, medical, environmental, sustainable economic development, energy, transport, transportation, automotive, railway and ship technology, aeronautics, astronautics, space technology, security, research, construction, economics and social sciences, humanities, natural and formal sciences (physics, chemistry, mathematics).
What are the requirements for an initial meeting?
Prior to the initial meeting, we recommend you attend the free workshop „Idee, was nun?“. There you will gain an overview of INiTS and ideas on how to realize your business idea. In exceptional cases where you are unable to attend the workshop, you can begin with an initial consultation. To prepare, please read through the questionnaire that will be used as a basis for the consultation.
What is the project advisory board commitee responsible for?
The project advisory board is made up of business, science and research professionals from life sciences, information and communication technology and other technical areas. The advisory board meets three times annually and is responsible for the assessment of the submitted business concepts. The board decides which start-up projects to accept into the incubator.
Can I use INiTS´services, even if I am not part of the incubation program?
Sure. Please get in touch with one of our start-up consultants.
How much does the program cost?
Participation in the incubation program is free including workshops, consulting hours and events.
Do I have to repay the grant if my company fails?
If after three years from acceptance into the incubator the business is not successful, only 15% of the funding must be repaid.
Does INiTS receive shares in the incubated start-ups?
No, INiTS may not receive stock in the start-up companies.
How long will my project be supported?
The incubation period is normally 18 months. In some cases, start-ups can extend support up to 24 months. After completion of the program, start-ups become INiTS alumni and continue to be integrated into our comprehensive network.
What obligations do I have if I am accepted in the INiTS incubator?
You are responsible for leading your start-up project and regularly reporting on your progress throughout the entire incubation period, particularly on the achievement of agreed milestones.
Can I work part time?
Building a company requires a lot of your time. That is why we recommend only a part-time employment of maximum 20 hours per week.