Business Incubation Impact

35+

Number of Business Incubation startups

20+

Number of startups still connected to their incubators

$650k

Funding generated by Business Incubation startups


Business Incubation Overview

 

GIST Business Incubation brings together the best international science & technology innovators and American businesses to increase cross-market access and to create opportunities for collaboration. While in residence at incubators across the United States, entrepreneurs have opportunities to make connections with the local entrepreneurial ecosystem and build business relationships for potential partners and investors. GIST Business Incubation also helps American businesses gain awareness of global entrepreneurs, innovations and markets.

Happening now!

GIST is currently accepting applications for its 2024 Business Incubation program. 

Click to learn more

Business Incubation Success Stories

 

Vamekh Kherkheulidze of Elven Technologies

Elven Technologies is a high-tech personal protection equipment (PPE) company. Our first product is a technologically-advanced full body fire-proof suit with a cooling system to keep firefighters safe in the line of duty and help save lives.

Rituparna Das of Hydrotech Solutions

Hydrotec Solutions Private Limited has designed a Smart water ATM Kiosk that purifies and dispenses clean drinking water on pay per use basis, using sustainable energy.

Yakau Buta of StringersHub

StringersHub is a marketplace that connects stringers—freelance videographers and eyewitnesses—and media outlets, globally. Top media outlets can purchase “hot” material from these stringers.

Participating Incubators

 

The following incubators have participated in the prior Business Incubation programs:

TechTown Detroit - Detroit, Michigan, USA

Purdue Foundry - West Lafayette, Indiana, USA

1871 - Chicago, Illinois, USA

mHub - Chicago, Illinois, USA

University of Colorado, Colorado Springs, Colorado, USA

Center for Entrepreneurial Innovation - Phoenix, Arizona, USA

University of Arizona Center for Innovation - Tuscon, Arizona, USA

The Station - Houston, Texas, USA

DuBose and DuBose - Cleveland, Ohio, USA

University of Memphis Research Foundation, Research Park- Memphis, Tennessee, USA

Project UK - Kansas City, USA

GIST Business Incubation | Resources

U.S. and Ukraine Unite Around Innovation in D.C.

Out of the forge of inordinate challenges comes a new era of connection between the innovation ecosystems of Ukraine and the United States. The GIST Initiative and the U.S. Department of State are proud to be a part of building this deeper connection and are working to support Ukrainian innovation as it builds a new, ever brighter future. 

Business Incubation Breaks New Ground

A cohort of founders from Bhutan is soon beginning their entrepreneurial journey in the United States, building experience and gaining insights that will take their ventures to the next level. 

Business Incubation Innovator Receives Highest Award

Business Incubation participant Alyona Glushko who spent three weeks at the Center for Entrepreneurial Innovation in Phoenix, AZ, developed a novel innovation for heart safety.

Global Entrepreneurs Conclude Business Incubation Program

The GIST Business Incubation Showcase and Reception held on November 21 at the Halcyon incubator in Washington, D.C. included networking and pitches in front of investors and U.S. business experts. 

Behind the Scenes of the First GIST Business Incubation Program

Nearly 30 innovative science and technology entrepreneurs representing startups from emerging economies worked at 10 U.S.-based incubators to learn how to expand their businesses into the United States market. 

Ukrainian Innovation Rises to The Challenge

GIST has supported Ukrainian innovation across multiple fronts, including direct support of multiple Innovation Hubs spread throughout the country, as well as supporting Ukrainian innovators in attending global ecosystem events. 

Business Incubation Past Events

May 2023

2024 GIST Business Incubation

GIST's Business Incubation program is back with a 6-week incubation in Atlanta, Georgia USA. Learn more.

business incubation
October 2022

GIST 2022 Ukraine Business Incubation

GIST Business Incubation Ukraine program, begun in the winter of 2022, brought 15 science and technology innovators to the U.S. for 6-month incubations at three top-tier partner organizations. Learn more.

business incubation ukraine
September 2022

GIST Bhutan Business Incubation

Fall 2022 saw GIST bring four inspiring innovators from one of the U.S.'s top partners in Asia--Bhutan! GIST's work on the ground in Bhutan led to a 2-week incubation program that helped to solidify the U.S's commitment to promoting science and technology cooperation. Learn more.

Biz Inc Bhutan
November 2019

GIST Global Business Incubation 2019

The inaugural Business Incubation program saw 25 innovators from across the globe come for a deep dive into U.S. best practices followed by an investor showcase where select innovators pitched their startup solution. Learn more.

biz inc 2019

Business Incubations FAQs

APPLICATION QUESTIONS

What is the GIST Business Incubation Program?

GIST Business Incubation brings together the best international science & technology innovators and American businesses to increase cross-market access and to create opportunities for collaboration. While in residence at incubators across the United States, entrepreneurs have opportunities to make connections with the local entrepreneurial ecosystem and build business relationships for potential partners and investors. GIST Business Incubation also helps American businesses gain awareness of global entrepreneurs, innovations and markets.

Who is the implementer? 

VentureWell implements the GIST Business Incubation Program on behalf of the U.S. Department of State. VentureWell is an organization based out of Western Massachusetts, USA whose mission is to foster collaboration among the best minds from research labs, classrooms, and beyond to advance innovation and entrepreneurship education and to provide unique opportunities for STEM students and researchers to fully realize their potential to improve the world. You can read more about VentureWell here.

How many people from my company can participate in the incubation?

Only one member from your team can participate in this program, and it must be the person who filled out the application for the program. No dependents will be allowed as part of the program. 

Where do I need to be from to participate?

You must be a citizen of one of the 130+ countries GIST serves. You do not need to be currently residing in that country to be eligible.

How old do participants need to be?

All applicants must be between the ages of 18 and 40 by the application deadline.

What language will the program be in?

You must be a proficient English speaker. This program will not include language interpretation. 

What kind of startups are allowed to apply?

All startups must be science or technology startups. 

Applications for businesses that fall under the following categories will not be accepted:

- Research projects with no demonstrable commercial potential

- Teams based at a charity or foundation (not-for-profit) organization

- Teams based at organizations that buy and resell technologies and other goods

We would like to submit as many applications as possible. Can we submit one per startup employee?

No. Only one application will be accepted for each startup.

How advanced does my startup need to be to get the most out of incubation?

You must have a valid, active business. This will be proven by you uploading proof of funding, proof of customer sales and/or proof of partnerships. We will not accept applications for startup ideas.

When is the deadline to apply?

The application deadline will be announced shortly.

 

LOGISTICS QUESTIONS


When is the program?

Applications open 1 December, 2023 (early registration now open)
Application registration close 28 February, 2024
Participant selection 1 March - 1 April, 2024
Program start date ~ 13 May, 2024

What is the schedule of the program?

Coming soon!

What startup support services come with the program?

Each participant will receive support services provided and determined by their home incubator. In most locations you will be provided access to ongoing mentorship, access and support in making new business connections across the community, and other incubator/accelerator services as offered by each host group. There is no guarantee of any investment or additional funding.

What kind of visa will I get?

VentureWell and the U.S. Department of State will provide you with an offer letter as proof of your acceptance into this program. We will also work with a J-1 visa issuer to attempt to facilitate your visa issuance. You must get a J-1 visa to participate in this program - no other type of US visa will be eligible. Please read and understand all the J-1 visa requirements at the State Department’s website before applying for this program.

How will I pay for the program?

This program will subsidize your expenses for this experience. Program participants will receive a blend of support stipends and prepaid expenses for the duration of the program. 

You will be provided with a stipend for expenses (including travel) if you are accepted into this program. VentureWell will pay your living expenses and your incubator fees. You will also receive a stipend for other costs. Stipend payments are meant to offset incurred expenses that participation in the program might require. It is your responsibility to ensure the appropriate budgeting of this funding.

Note: All participants will receive the same amount of funding from VentureWell, but some people may get more as a grant and others will receive more as housing assistance, etc. This will be dependent on the location and home incubator of the participant.

Which incubator will be hosting me?

VentureWell is currently sourcing the incubators. Participants will not be able to ask for a specific incubator. 

Where will I live? 

Depending on the location of the incubator, you will live in long term hotels, short term apartments, or housing provided by the incubator. You may be sharing an apartment with another program participant, but all participants will have their own bedrooms. All participants are vetted and screened before acceptance into the program and being assigned to an apartment. More information will be provided to you when you get placed at an incubator.

Do I need health insurance? 

VentureWell will provide you with an emergency health insurance policy that can help with paying for emergency medical care while in the USA. More information will be provided when you are accepted into the program.

What happens if I do not complete the full program?

You will be required to sign a stipend agreement before attending the program. As a part of this, you are contractually obligated to complete the program. If you need to leave the program for any reason before its completion, you will immediately contact VentureWell. In the event you have to depart early due to non-compliance with program requirements, some portion of funds expended on your behalf will be required to be returned to VentureWell.

 

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