Mode 1

In order to allow incubator ventures to focus on building a minimum viable product and achieve initial commercial traction, rather than focusing on the overheads associated with incorporating and running a limited company, the Startup Incubator allows ventures to operate pre-incorporated mode defined as ‘Mode 1’ for an period of up to 8 months but which can be extended up to 18 months.

In the earliest stages of the development of a software based product or service, the costs and complexity burdens of an incorporated company may not yet be justifiable. Oxford University Innovation will allow and enable a venture to operate from within the corporate framework of Oxford University Innovation Ltd.Within certain practical limits and whilst observing strict legal and financial controls, the venture can at this stage work to develop, market and trade its products and services through the Incubator.

During Mode 1 there will typically be regular ‘board’ meetings between the entrepreneur founders and their direct contact person within the Startup Incubator managers no less than every 3 months.

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