Welcome to Wave V: seven new ventures join the InnovationRCA Incubator
InnovationRCA was pleased to welcome its new wave of ventures, which joined its Incubator in early 2012. The Incubator, which is backed by a three year NESTA grant, offers intense business coaching and support, access to the RCA's business network, workshops and office space, a cash injection and much more.
Our new ventures
The seven successful teams will be amongst the first tenants at the new James Dyson Building in Battersea, where the InnovationRCA Incubator will be housed in a purpose-built space from 2012.
The final selection of ventures was announced on 4 November 2011, after all the entrants had pitched to a selection panel which included representatives of the investment industry, NESTA and Imperial College. InnovationRCA received 38 applications from ventures formed by graduates of the RCA and Imperial College.
The strong field of applicants covered a range of disciplines, including RCA Innovation Design Engineering, Interaction and Product Design and Imperial College's Mechanical Engineering, Bioengineering and Business School.
The selection process, which began in September, involved several stages including skill assessment; team formation and matchmaking to build teams with a balanced set of skill sets; a week-long business coaching programme, Basecamp, and final investment pitches to an audience of investors and business incubation experts.
The high quality of applications made the final selection decision difficult. The teams now starting at the Incubator will each receive a cash investment and, more importantly, a range of supported services and mentorship from the Incubator team.
We look forward to seeing how they progress.