1 Business Incubator for Rural Entrepreneurs October 4 th , 2007 Hanoi, Vietnam Wichai Saretawekul Program Manager Kenan Institute Asia
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Business Incubator for Rural Entrepreneurs
October 4th, 2007Hanoi, Vietnam
Wichai SaretawekulProgram Manager
Kenan Institute Asia
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Topics
• Background• Project Information• Objectives• Processes• Key Achievements• Lessons Learned• Challenges
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Background
• Be awarded infoDev grant in 2004
• Planning Phase for a business
incubator in Thailand
• Partnered with the Office of
Vocational Education Commission
(OVEC)
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Background (cont.)
• Site visits to 10 vocational colleges
in 5 regions
• Provision of business incubation
seminar, business plan workshop,
and incubator manager training
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Project Information
• In 2006, K.I.Asia was awarded the second grant
• Implementation phase for a pilot business incubator in
Thailand
• Planning phase for pilot business incubator in Laos and
Cambodia
• Partnership with Lao National Chamber of Commerce &
Industry and Siem Reap Chamber of Commerce
• Selected one vocational college for a pilot business
incubator
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Business model
Business Incubator
Business, Management & ICT* Trainings
Clientele: Students, Graduates, Community Members
Funding Sources: SME Bank & Other
Modern Office Equipment Five Rural BI Locations
Consultants & Assistants
Partnering & Networking: Gov’t Institutions, NGO’s & Clubs
Generated / Established: Small and Medium Businesses
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Project Information (cont.)
• Suratthani Vocational College
Source: http://www.mapsofworld.com
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Project Information (cont.)
• About 645 km. by road from Bangkok
• Occupies an area of approximately 12,891.4 sq. km.
• Most incomes depend on agriculture, services and trade respectively.
• Per Capita GPP was shown 97,936 baht in 2005.
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Why Suratthani Vocational College?
• Strategic Location
• Full of facilities and experimental equipment
• ICT supported
• Strong network with government agencies, private enterprises, and local community
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• Quality human resources
• Well-known in the community due to its long establishment
• Achieves plenty of academic awards
Why Suratthani Vocational College?
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Objectives
• To be a pilot business incubator for vocational colleges in Thailand.
• To assist vocational school graduates and rural community members to succeed in realizing their goals of starting a successful business.
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Objectives (cont.)
• To assist needy, aspiring entrepreneurs who typically lack the funds to implement their business plans.
• To educate them on best business practices and promote and implement ICT skills.
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Objectives (cont.)
• To strengthen local capacity within business incubator and rural community to promote ICT-enabled innovation and the appropriation of ICT, both hi- and low-tech.
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Management Model
K.I.Asia
Incubator Managers (3)
Incubator Clients
Business Incubator Management Team
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Processes
1. Set up business incubator management team
2. Made action plan
3. Appointed incubator managers
4. Created public relation materials and application form
5. Arranged facility and equipment
6. Recruitment of incubator clients and interview session
Monthly meetings with incubator
management team and incubator clients
Business Incubator Study Tour
Preparation Period Incubation PeriodPre Incubation Period
Incubator Clients Orientation
Business Plan Training
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Processes (cont.)
1. Set up business incubator management team
2. Made action plan
3. Appointed incubator managers
4. Created public relation materials and application form
5. Arranged facility and equipment
6. Recruitment of incubator clients and interview session
Preparation Period
Incubator Management Team Business Incubator
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Process (cont.)
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Service (5)- Thai massage- Graphic design- Flower arrangement (3)
Food (3)- Thai style crab cakes & steamed fish curry cake- Herbal/Cereal beverage- Pastry
Craft (4)- Batik (2)- Glass painting- Soap carving
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Applicants
Incubator Clients
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Incubator Clients
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Incubator Clients
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Incubator Clients
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Processes (cont.)
Pre Incubation Period
Incubator Clients Orientation
Business Plan Training
Orientation Business Plan Training
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Processes (cont.)
Monthly meetings with incubator
management team and incubator clients
Business Incubator Study Tour
Incubation Period
Kasetsart University Business Incubator Center
Chulalongkorn Business Incubator
Monthly Meeting Incubator Clients Visit
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Visit of Deputy Minister of Education
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Key Achievements (Incubator Clients)
• Better understanding of needed business skills
• Improved ICT/computer skills in related to product design
• Improved technical skills• Reduced production costs• Raised clients’ confidence
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Key Achievements (Incubator Clients)
• Significant increase of customers• Increase of average monthly
income• The brand name and product
packaging has been created• Network with other incubators
clients in the same business type
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Key Achievements (Incubator Clients)
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Key Achievements
• Close cooperation with OVEC
• Increased internal capacity of K.I.Asia and vocational college
• Networking with organizations in Thailand and internationally
• Incorporated ICT use into the business model which targets rural communities
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Lessons Learned
• Networking and cooperation are fundamental to an effective incubator
• Seminars and trainings are crucial
• Even in a fully supported incubator, it is vital to charge tenants some fee to ensure commitment
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Lessons Learned (cont.)
• An incubator manager must have support from the community
• ICT utilization must be implemented from the early stages of an SME’s growth
• The right incubator manager is essential to success
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Lessons Learned (cont.)
• The government needs to be informed about the benefits of business incubation and how to properly measure its effects
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Challenges
• Make entrepreneurs understand
what the business incubator is and
how it can assist them.
• Analyze what the community and
each entrepreneur really needs.
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Challenges (cont.)
• Persuade entrepreneurs to utilize
technology and ICT in their business.
• Ability of the business incubator to
sustain itself.
• Entrepreneur lacks personal economic
resources, business literacy/education
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K.I.Asia Partners
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