Starting a business comes with a set of difficulties that can delay your progress a bit. It’s useful to have some help from those who have been in the startups' trenches more than once, or from those who have followed these trenches closely.
After 12 years of working with several startups - 149 to be precise - BGI can compile a list of common problems that entrepreneurs face. Fortunately, we are here to lend a helping hand.
Check out 3 common startup problems that the BGI can solve:
#1. How to turn an idea into a business
You have an excellent idea capable of solving a current problem. But you're lost and you don't know how you can get that idea out of the napkin. This is a common scenario among beginning entrepreneurs.
BGI has several projects, aimed at different types of startups, in the most varied stages of development. We have programs for startups in the scaling phase, but we also value those who are just starting out and want to contribute to innovation with their ideas. So keep an eye out for what we're doing and what programs we have open.
Our latest program for innovators who want to be part of the entrepreneurial world is Blue Bio Value Ideation, aimed at students, professors, researchers, entrepreneurs and all ocean enthusiasts. The program consists of two 48-hour ideation sessions - one in Lisbon and the other in Porto - in which you can participate alone or with companions, and develop your sustainable idea related to the ocean. But if you don't have an idea or a team yet, that's fine! You can join a group to create a new project. You will always be guided by specialized mentors and, in the end, the best projects receive support to be implemented.
This is one of the examples of initiatives we organize to help new entrepreneurs turn their ideas into businessess.
#2. How to get money
Getting money is a crucial part for any entrepreneur. And helping entrepreneurs find the capital they need to enter the market is one of the missions of accelerators such as BGI. Given our proximity to universities and academia, we know of several ideas that start from there, but lack the support to be implemented. That's why we help these projects, as well as any other innovative technological project, through mentoring, networking and financing, connecting innovators with our network of investors and potential clients, and preparing their pitching skills for future meetings. Additionally, many of our programs have cash rewards. You can find out more about them here.
#3. How to scale and expand abroad
Some of our programs - such as BGI Accelerator, Boston Global Immersion and Azores Accel - give participants access to our global network, through which they can develop corporate commercial and investment partnerships that transcend geographic boundaries.
Thanks to our close relationship with the United States (since BGI is a spin-out of MIT - Massachusetts Institute of Technology), entrepreneurs have opened doors to international markets and unlocked access to global clients, mainly in the USA.
Several BGI alumni consider networking with this unique network one of the highlights of participating in our programs.
“The meetings with mentors are phenomenal and networking and exchanging knowledge is one of the main things we are doing.” - André Glória, CTO of Genviot (former BGI Accelerator participant)