Prehype has offices in New York City, London, Copenhagen, and Rio de Janeiro, and was founded by Henrik Werdelin in September 2010.
[citation needed] In addition to venture management services, the firm provides angel investments and access to a network of talent including entrepreneurs, engineers, designers, and developers.
[4][5][7][8] With an infrastructure of entrepreneurs, engineers, designers, and developers, Prehype facilitates the incubation process by allowing executives, referred to as intrapreneurs, to build new products and ventures with a handpicked external team.
[5][9] The incubation process serves several purposes, the first of which is to retain talent within an organization while allowing employees to function like entrepreneurs, potentially leading to a successful new business.
[4][7][10] Upon the completion of a Prehype project, the company that has contracted the firm's services is given the choice to internalize or spin out the new product as a stand-alone startup.