The idea first occurred to a bunch of us at Ethical Fields when Pollenizer (the original “Startup Incubator” in Australia) shut down after only 10-years.  We got thinking there must be something wrong with the incubation business model and we concluded:

1. Conventional Incubators are not viable in themselves.  Instead they act as a business development tool for “side-car” investors trying to pick winners.  We think you need an incubator that exists to serve its incubatees.

2. Conventional Incubators look for a 1-in-1000 unicorn to repay their many wrong bets.  We think you need an incubator that creates businesses of value that go the distance.

3. Conventional Incubators looks for exceptional talent.  We think you need an incubator for collective endeavours

4. Conventional Incubators function with a top-down approach.  We think you need an incubator that harnesses the wisdom of the crowd.

5. Conventional Incubators promote returns for the 1%.  We think you need an incubator where 1 Member = 1 Vote

6. Conventional Incubators run for 6-months.  We think you need an incubator that supports the whole period of development from formation through to operation.

Here is Co-Founder Andrew Ward discussing his ‘Why’ for co-creating incubator.coop

Co-ops rock.  But besides that.  If business is to actually be a “force for good” then Co-ops are the way to do it.

CoOps aren’t an experiment either.  They have been around since before the modern day Corporation and hide in plain sight as some of our best performing businesses.

The 7 CoOp Principles

1. Voluntary and open membership
2. Democratic member control
3. Member economic participation
4. Autonomy and independence
5. Education, training, and information
6. Co-operation among co-operatives
7. Concern for Community

Co-op Incubator Limited is a ‘non-distributing’ Co-operative, run on a volunteer basis at the moment.  Any surplus (if there were one) at the end of the year goes into improving the incubator.  In short, this Co-op is designed to get better and better over time NOT make a capital return.

Within the incubator.coop each Member has the chance to work on Projects that need help.  In some cases this work is done on a volunteer basis and in other cases it is either paid or put on a deferred payment smart contract.

It is entirely up to our Members how they work together, but we envisage some Members with relevant Co-op experience (that is in demand) could make a reasonable income from the work they do building Co-ops.

Membership Costs

$1 for a Member Share + $24/annual subscription = $25

For each year after = $24

Groups already in existence wanting to migrate several members at once should get in touch we can provide discounts on Group Membership.

 

 

Firstly, you (and your team) have to join as Members of Co-op Incubator Limited.

Then you can create it as a “Proposal” and progress it then to a “Project” and ultimately to a Co-operative.

For More Information go here For Group Membership Application and special prices Contact Us

Individual Membership

$1 for a Member Share + $24/annual subscription = $25

For each year after = $24

Groups already in existence wanting to migrate several members at once should get in touch we can provide discounts on Group Membership.

Project Listing Fee

We are still working the exact price of Project Listing Fees, but depending on what your team need it will be between $250 and $500 dollars to list.

Note: If you have already established a group then each of you still have to join incubator.coop as individual members

Each Project pays a “Project Listing Fee”.

Note: Each project requires at least 5 Members on the Project Team to become a Project.  This listing fee basically become $50-$100 each.

Each group can develop as they see fit.

Practically speaking the development pathway will be determined by what has been done before, who has done it before and what budget a group has to work with.

At incubator.coop we have devised a CoOp development pathway called ‘FOFO’.  FOFO stands for Forming Organising Funding and Operating.  These stages cover what we believe a Project needs to do before becoming a registered Co-operative business under the law.

Each stage is broken into elements that build upon one another sequentially but also in reference to other stages.  In practical terms the Projects live and die by their ability to attract resources that help them develop stronger and better pre-formation communities which in turn produces better performing CoOps from launch and into perpetuity.

Forming

1. Find a Mentor
2. Vision Mission and Values
3. Style Guide
4. Brand Guide
5. Online Marketing Plan
6. Offline Marketing Plan
7. Member / Customer Collateral
8. Share Event (In the real world)
9. Community Engagement and Member Experience KPI’s Set
10. Complete Community Engagement Plan

Organising

1. Incentives Management Plan – Ownership Plan
2. 1-Page Business Canvas
3. 21- Page Pitch Deck
4. Financial Model
5. Operations Plan
6. Resourcing Plan (Tech and People)
7. Sales and Marketing
8. Capital and Fundraising Plan
9. Governance Plan and Ownership Plan
10. Business Plan

Funding

1. Financial Literacy 101 – E-Course for Project Team
2. Incentives Policy – Ownership Policy
3. Financial Model
4. Financial Projections
5. Capital Plan (Capital Raising Plan)
   1. → Rewards
   2. → Grants
   3. → Debt, Debentures and CCU’s
6. Operating Sensitivity Model
7. Proposed Operating Budget
8. Risk Management Strategy
9. Financial Plan
10. Disclosure Statement Pro-Forma

Operating

1. 3.1 A and 3.1 B (primary activity, active membership)
2. Values, Vision, Mission (from Forming)
3. Community Engagement Plan (from Forming)
4. Business Plan (from Organising)
5. Supplier Engagement
6. Financial Plan (from Funding)
7. Incentives Register
8. Accounts-Ready
9. Bank Account
10. Register
11. Distribute Paperwork To New CoOp Members
12. Execute Digital (deferred blockchain agreements)
    
    (Graduate)

 

 

Fortunately it’s actually pretty simple.