Introduction:

Incubation centers play a pivotal role in fostering entrepreneurship, innovation, and economic development by providing startups and entrepreneurs with the necessary resources, guidance, and support to transform their ideas into successful ventures. The Marmara Incubation Center stands out not only with its unique approach to evaluating and supporting projects through its Project Evaluation Board (PEB) but also with its innovative strategies for funding the projects within the incubation center. In this blog post, we will explore how the Marmara Incubation Center provides financial support to its projects through various funding mechanisms, including Marmara Crowdfunding, Marmara Incubation Center (MIC), and Marmara Venture and Investment Fund.

Project Evaluation Board and the Quadruple Helix Structure:

The Marmara Project Evaluation Board (PEB) is established to assess the projects proposed by entrepreneurs within the Marmara Open Innovation Community. The board is composed of a quadruple helix structure consisting of:

1. Academics

2. Businesspeople

3. Representatives from civil society and NGOs

4. Local community representatives (representatives from the area where the project will be realized)

The PEB evaluates the projects submitted by entrepreneurs and at least one person from each of the four groups conducts a preliminary evaluation based on the project area. The reports are then presented to the PEB board, which consists of at least 12 members, ensuring equal representation from each category of the helix structure as much as possible. The projects are then voted upon, and those that succeed are admitted to the Marmara Open Incubation System.

Experts who want to be part of the quadruple helix structure can apply  to the pool. We have currently more than 50 board members and expanding quickly. In academics part of PEB, we have more than 20 academicians. 

Funding Projects within the Marmara Incubation Center:

After the successful evaluation and admission of projects into the Marmara Open Incubation System, the next crucial step is securing funding to support the development and growth of these ventures. The Marmara Incubation Center employs several innovative strategies for funding projects:

1. Marmara Community Crowdfunding Group: Operating under the Marmara Open Innovation Community, the Marmara Crowdfunding Group is an open platform that directly connects entrepreneurs and investors within the framework of open innovation.

2. Marmara Incubation Center (MIC): The MIC is a group within the Marmara Open Innovation Community that is open to project teams that have successfully been approved by the Marmara Project Evaluation Board (PEB). A project must be part of the MIC in order to connect with investors through the Marmara Community Crowdfunding group.

3. Marmara Venture and Investment Fund: We aim to establish an equity-based crowdfunding system that allows community members within the Marmara Community to invest in entrepreneurial projects through private agreements. By pooling resources together, the fund can help realize promising projects within the community.

Conclusion:

The Marmara Incubation Center is revolutionizing the way projects are evaluated, supported, and funded through its unique approach to project evaluation and innovative funding strategies. By offering a diverse range of financial support mechanisms, the Marmara Incubation Center is empowering entrepreneurship and collaboration beyond Turkey and fostering the growth of groundbreaking projects with the potential to make a significant impact on the global stage.