The SCE Hub will enable the development of student initiatives in the framework of the Entrepreneurship and Innovation Center, and will be a platform for interactions with various external parties. This requires a unique operational structure that will fulfill diverse needs. The operational model chosen is that of Foundry, a model that will provide a high level of flexibility when working with entities from within the industry, as well as with entrepreneurs and financing parties, and will maximize the economic potential of such collaborations.
Foundry is an operational model that is geared towards the establishment of companies based on fundamental ideas, and includes all stages of development. In fact, the hub can be seen as an entity that, on one hand, includes an accelerator, incubator and venture capital fund all in one, and on the other hand, is able to provide technical support in addition to the business consulting. Unlike accelerator programs, incubators and venture capital funds which are dedicated to helping companies develop, the objective of the hub is to establish companies, and therefore can also provide service to entrepreneurs that have not yet completed the first stage. This includes: team building, writing business the plan, and patenting. The hub must also employ technological-scientific staff members.
Establishing a hub within SCE will leverage one of the college’s advantages – its research faculty – and create a significant value proposition for technological entrepreneurs that are starting their professional journey. In addition to collaborations with technological entrepreneurs, the hub will conduct collaborations with parties from within the industry through several options:
- Providing assistance to industry entities regarding development, or solving problems that are not within their specific realm of activities but are included in the specialization field of the college’s faculty (similar to the Franhofer Institute in Germany)
- Working with external parties to assess supplementary or innovative technologies that are not part of their core endeavors
- Working with venture capital funds and academic parties to assess the feasibility of new technologies