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a) Technically, it will not cost you money to reach out to businesses in hopes they could be your incubator. However, in order for them to be swayed to accept, sometimes there is money involved. “Give before you receive” is a phrase Elliot stood by, and it basically means to find what that business wants or needs, and make an offer to help them get these things in hopes that this gesture will make them want to give to you in return. This could be as simple as designing something for them with your own resources, or as extensive as flying them out to run a 5K in your state (yes, Elliot did offer to do that). However, this money will be nothing compared to the experience you gain, and hopefully the profit you make from starting up your company.
<div>b) Timewise, this might take a while. It could take weeks to months before convincing a company that your product is worth the investment. Elliot aimed for 3 main incubators and accelerators when working on his company Spira. Once securing an incubator the process of invention and testing begins almost immediately. Once you are in an accelerator program, all day everyday is spent on the product. There is a lot of time put into this, but it is worth it once you find the right incubator for your business.</div><div><br/></div>
== Support <span style="font-size:smaller;">(students, faculty, staff needed to facilitate prior to and during the event)</span> ==
<span style="font-size:smaller;"></span>Support is so important when developing a new business or idea. Something that Elliot struggled with was the lack of support from the faculty at his university. He had to combat this with support from his friends and his motivation to get things done. In one situation he was trying to make a product with a fellow student and it didn’t work out because the support between the student and Elliot was not there. Overall, to have a successful event you need the support of students, faculty, and staff.
== Lessons learned and tips for others <span style="font-size:smaller;">(what worked and what didn’t, and your recommendations for others)</span><br/> ==
a) The innovators and entrepreneurs who are making changes in the world are constantly asking questions. They identify problems or areas that need improvement, ask themselves why they are the way that they are, and brainstorm a way to improve. Therefore, a key piece of advice is to be curious. Look at the world around you as it truly is and ask questions. Don’t settle for the status quo - instead challenge it to be better.
b) Failure is not a setback but should, instead, be seen as an opportunity. From failure you find out what works and what areas need improvement. You learn about yourself and your company and are able to grow from these problems.
c) Never view rejection as a negative. If you believe in your product and company, and believe that it is the right thing to do, then continue with as much, if not more, momentum than before. Rejection is inevitable. However, rejection should also teach you that when given an opportunity you cannot waste it. Use that opportunity to its maximum and execute. Prove to the people that saw potential that they were not wrong to have faith in your product. Illustrate that the team is passionate and has the work ethic to succeed.
