Sibu DIH– Sandbox program will be a niche and incubation program that focuses on a specific and targeted start-up within a year so that the start-up business will able to sustain and grow up in the sandbox program. The program will be designated to accommodate the start-up business so that the start-up will be monitored properly and constantly in developing the start-up.
I. Ideas Formulation
In 2nd Quarter as well, once the Start-Up is legally formed, the Start-Up team shall while learning from other businesses, shall develop their ideas. This idea must be in line with the needs and demands of the current economy and not too high risk, hence the formulation of ideas stage shall be together with the learning and understanding of the economic situation and demand
II. Registration & Regulation for New Business & Business Law:
To understand the regulations and laws in the formation of the business, especially in legal liabilities of such business, ranging from the registration process, documentation, a capital start-up for the legal requirement, and basic business law for the start-up.
III. Basic Business Structure (Formation):
The start-up or will-be start-up will be taught or trained to determine the structure of their business, to expose them to various types of business structures depending on their interest, background, talent, and whatsoever quality and qualifications from the conventional, traditional, and modern digital innovative business structure. Once the start-up was able to determine the type of structure they want to adopt and operates, the sandbox shall move them to the (II) program.
IV. Corporate Literary :
Corporate Literacy will be focused on the internal environment of a business for start-ups, to understand the variety of corporate cultures, from mega-company to small start-ups and what can be learned for small businesses to survive. In this part of the program, especially the 2nd Quarter, the mentorship program will run along with this program where the start-up will find or suggested their mentorship support the start-up development. It is important for this program to run together with Basic Management Program and Teamwork Program while they are learning from established business and corporate culture.
V. Basic Management Program:
Basic Management Program will focus on learning and training internal management of the start-up, meeting arrangement, documentation, paperwork, set up email, website, accounting, auditing and etc.
VI. Teamwork Program
Communication Skills, Human Resource skills, Interviews, group discussion, division of tasks and works
VII. Economy & Market Demand
At this stage, the market expert must present the market data in line with Government support agendas and learn the opportunity of market demand and tap into the market. This is the stage where the start-up can do the run-test of their ideas.
VIII. Pitching
In 3rd Quarter, with a certain level of confidence, the start-up will be recommended to attend and compete in various platforms to pitch their ideas and train the way they present and pitch their ideas. They shall learn and train in the present and pitch their idea confidently and convincingly.
IX. Documentation & Presentation
While they learn to pitch, they should learn to prepare their proposal, document, and materials nicely, properly, and innovatively to convince the investor and public to engage in their start-up.
X. Investment
The final stage should be they are able to gain financial support to execute their business ideas. Platform and support will be the focus of this program, to bring them to meet potential investors, and to arrange the meeting and presentation session with the investor. This stage also will focus on the Government grants and financial support pitching for the start-up. In conclusion, the sandbox program will run roughly 10-11 months to help the constant development of the start-up.
Mark your calendars for April 11, 2023, and join us for the First Quarter of the Sandbox Program at the Sibu Digital Innovation Hub.
This program is designed to teach you how to formulate ideas for your business and guide you on the path to success. With the support of trainers from Perbadanan Usahawan Nasional Berhad, you’ll gain in-depth knowledge about the business world and learn how to turn your ideas into reality.
The Idea Formula training session is just the beginning of the Sandbox Program, which will continue with other informative sessions throughout the year. Admission to the program is free, and it’s open to everyone in Sibu and beyond.
Don’t miss this opportunity to network with other entrepreneurs in the community and gain valuable insights from experienced professionals. Register now to join us for the First Quarter of the Sandbox Program and take the first step towards turning your business idea into a reality.