The Mission of Business Innovation Centre is to provide entrepreneurs located in the Kragujevac region who have innovative products or services with a unique environment which will increase their company’s chances for success the market .
Business Innovation Centre offers a unique opportunity for innovative ventures in the combination of low-cost, furnished office facilities; top-of-the-line computing, telecommunications ; strategic advice from our on-site Management Team and through our “Know-How Network” of professional service providers, experienced business advisors, academics; access to funding sources,; marketing and PR support; responsive on-site management; and a culture of quality and cooperation. Through this targeted services package, BIC fosters entrepreneurial ideas from the early stage of business development until the graduation stage of growth.
BIC was founded in April 2008 and officially started work in January 2009 as a Limited Liability Company whose founders are the City of Kragujevac, Regional Chamber of Commerce Kragujevac, Regional Agency for Economic Development of Šumadije i Pomoravlje, Association of Private Entrepreneurs "Šumadija" and General Association of Entrepreneurs "Sloga", in order to help young Start-Up enterprises from the local community. This coalition of forces allows BIC to provide invaluable services and benefits to its client companies. The project was funded by the Local community, National Investment Plan and donor funds.
BIC is an economic development tool designed to help innovative young entrepreneurs to accelerate their growth and success. The purpose of BIC is to produce successful firms that will leave the incubation program financially viable and freestanding, usually in two to three years, creating jobs, commercializing innovative new technologies and strengthening our local and national economies.
BIC differs from commercial property and serviced offices by requiring clients to “graduate” when they reach a point in their development where they will be viable outside the Centre (on average after 3 years). The emphasis on “graduation” is reinforced by a policy of implementing graduated rental and service fee increases as the business grows, to encourage clients to seek accommodation options in more conventional commercial premises. BIC encourages companies to stand on their own as soon as they can and to leave the incubator when they 1) have their management team; 2) have acquired 2nd round financing; 3) have revenue-producing products or services. This opens a spot in BIC for new companies and begins the business development cycle anew.