What is Innosance?
Innosance is an incubation center that connects entrepreneurs to investors and mentors via programs. We also provide business services for startups to grow their business and go global as fast as possible.
Where does Innosance's name come from?
Innosance is the short form of Innovation Renaissance. It refers to today's renaissance which is realized by entrepreneurs' innovations.
What is Innosance's vision?
Innosance has developed the vision of being an entrepreneurship civilization by providing entrepreneurs with access to international entities to overcome local limits such as funding, investment, talent, competence, vision, culture, infrastructure, internationalization, scale up, and, sharing know-how and experiences to learn together.
What is Innosance's mission?
Innosance's mission is to provide solutions to startups' needs during their entire lifecycle - from ideation to exit.
Why is Innosance based in USA?
We already stated that our goal is to help entrepreneurs overcome local limits. The specific reason why we are in USA is that the co-founders have more access to investors, funds, accelerators, mentors in USA than other markets. The availability of funds and engrained culture of investing in immigrant startups in US comparing to Europe and China are the basic reasons even though China's incredible momentum. We'd love to announce 'China office is opening'. Until that time comes, we'll be only in US.
Why is Innosance based in Las Vegas?
Despite having an unparalleled reputation for hospitality, entertainment and gaming/gambling, Las Vegas has a well-established investor and entrepreneur ecosystem. The city has entered a new era after $350 Million-funding for 'Downtown Project' by Zappos founder Tony Hsieh who exited to Amazon for $1.2 Billion USD. Also, the city has optimum conditions for startups' incubation period. This includes low costs of living, being close to Silicon Valley, San Francisco, Los Angeles, and being a global hub for several industries such as hospitality, tourism, gaming, esports. Last but not least, Nevada State provides tax advantages and grants/supports to foster state's economy.
How does Innosance keeps the relationship with entrepreneurs after the programs?
First of all, we need to say that any entrepreneur can get in touch with other entrepreneurs and mentors at Innosance any time. Participants of the program can benefit from our business services to grow their business in US and China markets, get mentorship from our mentors, get funded by our investors depending on their assessment.
Why do you charge $3.000 for 2-week long Startup Fundamentals Program?
We are asking this fee for the value it proposes, not the duration of it. As Innosance, we want to earn 'with' startups by investing in or helping them get funded, not 'from' startups. For Startup Fundamentals, we can say that there is almost no margin at all due to accommodation, trainings, domestic flights, working space rental costs.
I understand the reason for this fee but how can I calculate the return on investment?
We believe there are 2 main values that can be figured out. Firstly, transferring the cumulative know-how and experiences of other entrepreneurs/mentors that can save a lot of money and, more importantly, time. Secondly, you can save a lot of money and time by hacking the strategic network we have. Remember Steve Jobs quoting from Pablo Picasso 'good artists copy, best artists steal'. Well, we don't mean our products but you can steal our working methods, valuable connections and don't waste time, get reaped off, do the same/similar mistakes we have done.
Is there any success story after attending Startup Fundamentals Program?
Since we have designed and named the program very recently, there is no any success stories from our alumni yet. What we did is to go through a deep research about top fail and success reasons for startups, to verify them with our own entrepreneurs' experiences, and to involve mentors with proven success on these topics. Therefore, we tried to create the ultimate simulation for an entrepreneur before s/he starts his/her own journey. We believe we will hear success stories from our alumni soon enough. (At this point, you can take our co-founder Can (John) Unal's Avmeda which was founded in 2015, based in Las Vegas and got a valuation at million-usd-level.)
Why is not every applicant accepted to the programs?
The answer specific to the program is that we want to foresee both entrepreneurs and our mentors won't waste time but have an efficient and fruitful one. Generally speaking, we are expecting entrepreneurs who are in harmony with Innosance's vision, principals, and community.
What are the criteria for acceptance to the program?
As well as assessing idea, team, business model, revenue, etc. we are focusing more on subjective criteria such as vision, motivation, energy.
Does Innosance invest?
Innosance both invests as an incorporation and gives its investors the chance to invest as individuals. For sure, Innosance investments are based on professional processes just like any other investment. No positive discrimination for program attendees. No disadvantage for those who don't even apply to the program. In general, Innosance expects startups to ready to move US and have the product-market fit.
Are there any differentiating points of Innosance from others? If yes, what?
Yes, there are. The first and foremost differentiator is accommodation option which is provided with high standards and good conditions. Also, it is the only international incubator in Las Vegas. Its mentors are entrepreneurs themselves (except lawyers). An incubator's supporting and providing solutions for the entire lifecycle of startups -from ideation to investement- is not a very common scenario. Lastly, it facilitates an ongoing communication of the community and encourages them to learn together which is a lifelong advantage for them.
What exactly should I expect from Innosance?
Startups have both common and specific issues. For the common ones, you can expect know-how and experience sharing. For the specific ones, you can expect a 'real' effort to find solutions and the right guidance. Perceptibly, you can learn a lot from our mentors and entrepreneurs in their fields. Similarly, if your startup is in an industry in which our investors invest, then you are in the right place.
Can Innosance help me in ideation phase?
Yes. Despite being a dull and daunting work, every startup needs a solid business plan. It is almost impossible for a startup to succeed unless it has a well-defined, elaborated business plan. Innosance helps you building a strong business plan from idea to go-to-market, from product design-development to pricing.
Does Innosance guarantee funding?
No. Because it is totally a professional procedure. Yet, all our efforts is to have our startups funded and succeeded.
Can I contact if I encounter a trouble for my business setup after I got some advice from Innosance for free?
Yes but there is almost no room for mistakes in business setup and documentation, opening a bank account, getting certificates, and so on. So, getting a professional service is highly recommend. Even, you can get a special discount as an Innosance startup from our partner Social Enterprises (amerikadasirket.com).
Will I have 24/7 available phone support if I go for your virtual office service?
We have different Virtual Office plans. If you choose one with 24/7 available phone support, you will get it.