FAQ'SFrequently Asked Questions
Who is eligible to become an incubator client?
Any individual that has a passion or interest in the woodworking and furniture manufacturing industry and wishes to start a business or existing small businesses that seek to grow their businesses
How are incubator clients selected?
Individuals or companies that wish to participate in the incubator programme need to apply, complete the relevant assessments and submit all required documents. A panel then reviews the application and a decision on placement is then made.
How long can my company remain in the incubator?
The Pre-Incubation phase lasts for 3 months and the Incubation Phase lasts for 2 years. Post-Incubation (where applicable) is considered on a case by case basis.
What kinds of milestones am I required to meet?
Clients are required to meet milestones that are agreeable to the business and to Furntech with the objective of growth in mind. These milestones are set on entry and are constantly reviewed through structured coaching and development initiatives.
Does the incubator provide funding?
Furntech is a non-financial support provider and therefore no direct funding is provided to clients. We will however assist in facilitating access to funding through networks, linkages and partners.
What happens if my company outgrows the incubator?
If the business outgrows the incubator within the 2 year Incubation period then early graduation will occur.
What is the graduation criteria?
The graduation criteria is based on time and performance. The businesses are monitored during their two years in the incubation programme and are expected to achieve the goals as identified in their business plans. Upon expiry of the 2 year period or if the criteria for early graduation is met, the businesses are expected to graduate into the open market.
How do I apply?
Contact one of our Centre Managers who will guide you through the application process.