Questions and answers

Here we have collected questions and answers about how it works at BIC Factory. Do not hesitate to contact us if there is anything else you’d like to know!

WHAT DOES IT COST TO JOIN BIC?

It costs between SEK 1,500 and SEK 2,000 per month, excluding VAT.

WHO CAN APPLY TO JOIN BIC?

Our target group is young entrepreneurs, both women and men, up to 40 years old who have recently started or are about to start a company in Umeå. We welcome anyone who has turned 18 and finished with high school studies. Of course, you can always contact us if you want to discuss your idea and ways to develop it further.

WHAT IS INCLUDED WHEN I JOIN BIC?

You get a fully furnished office space for two people in a creative environment, business coaching tailored to your needs, lectures and workshops, access to a strong network, and membership to a community of entrepreneurs. Additionally, you have unrestricted access to reliable WIFI, meeting spaces, printing facilities, and coffee machines to help you stay focused on growing your business.

WHAT IS THE DIFFERENCE BETWEEN BIC AND A CO-WORKING SPACE?

The biggest difference is the help you get to develop and grow your startup. You are accepted to join us because we believe in you and your business idea, so at BIC Factory, you get two years of office space plus coaching and guidance adapted to your needs. A co-working space can be a good solution when you emerge from our incubator and set up an office of your own.

HOW LONG CAN A COMPANY STAY WITH YOU?

You can be with us for two years. After that time, the idea is that you can stand on your own two feet and grow your company independently.

HOW DO I APPLY TO JOIN BIC?

Answer the questions in this form. We will contact you and start the application process.

CAN I HAVE A SIDE JOB?

Yes, of course you can have extra work on the side, but we are happy to see that you can set aside at least 60 % of your time to develop your company, with the goal of eventually reducing the extra job and investing full time in the company.

CAN I GET FUNDING TO START MY BUSINESS?

Visit the Swedish Public Employment Service´s website to learn if you are eligible to apply for a startup grant.

WHAT DOES BIC FACTORY MEAN?

The abbreviation BIC stands for Business Innovation Center. Think of us as a company factory.

HOW DO I START A BUSINESS?

On Verksamt's website, there are many informational resources and tips on starting a business.

WHICH INDUSTRIES ARE WE TARGETING?

We welcome companies in all industries.

DO I DARE TELL YOU ABOUT MY BUSINESS IDEA?

Absolutely! We guarantee complete confidentiality, so you can feel safe telling us your idea and your business plans. The same principle applies when you are accepted to join BIC, as all BIC contractors sign a confidentiality agreement.

WHAT IS AN INCUBATOR?

A business incubator is an organization that promotes and facilitates the journey taken by startups to grow profitable companies. The incubator's main task is to offer business support and networks to facilitate productive contact with customers, partners, and investors. In many cases, business development support combines with services such as the rental of operational premises, telephone and IT resources, etc.

HOW ARE YOU HANDLING THE CORONA PANDEMIC?

We do what we can to reduce the spread of infection. For example, we have introduced visitor restrictions, and we are conducting lectures, coaching, and shadow board meetings remotely. Additionally, we have developed a digital concept, BIC-Workaround, that allows us to deliver our full business support offer online. There is every opportunity to upgrade to our office space once pandemic restrictions have eased. Read more about BIC-Workaround.

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