AIC implements a five stages selection process that identifies and cultivates innovative to growth oriented entrepreneurs by assessing entrepreneurial potential, business potential/model and financial management. The process starts with broad and general activities and becomes more time intensive and detailed as the company passes through several “selection” gates:
1. Client Identification
Client identification is the preliminary search whereby AIC finds initial contacts and communicate with various networks for possible clients to be invited in the Orientation Workshop.
2. Orientation Workshop and Entrepreneur Potential Assessment
The Orientation Workshop is where the AIC is introduced and the EPA is conducted with potential clients. The purpose is to ensure potential clients know about the AIC and what it does and what it expects from clients. The EPA then assesses the readiness of the entrepreneur, decision making, vision of the entrepreneur and experience in business.
3. Will It Fly
This is an extension of EPA which assesses further the entrepreneur readiness to grow the business, products and services, and the basic business operational systems. The purpose is to determine the potential of the business to grow or double in a set of time with AIC support.
4. Deep Dive
This is a deeper and comprehensive analysis of the business. The deep dive helps in establishing the business gaps, possible intervention and the ability of AIC to support the client in future. It establishes the gaps in business operations such as technology bottlenecks, human resources, internal operational systems, marketing strategies, the ability of the business to grow under AIC support and financing needs of the business. At the end of the process, both AIC and the potential client discuss the outcome of the deep dive. This is where the AIC and the client mutually decide to work together or not. The deep dive is the basis for signing the Royalty Agreement and sets out preliminary growth actions and responsibilities.
5. Royalty Agreement (RA)
The Royalty Agreement is a formal and contractual relationship between the AIC and the client. The Royalty Agreement lasts for 36 month. After the RA is signed, both AIC and the client set specific intervention actions and obligations in the progress of growing. The RA is based on transparency principles whereby the client agree to be available for AIC and its staff at any agreed time for checking the business processes, financial reports and major decisions that affect the long term goal of the business.