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INJAZ Al-Arab Incubators Booklet
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INJAZ Al-Arab Incubators Booklet Presentation Transcript

  • 1. Startup ProgramIncubators and Lead Mentors Booklet
  • 2. Acknowledgments Consultants INJAZ Al-Arab expresses its gratitude to the consultants for their contributions to the development of INJAZ Al-Arab Startups Program. Their expertise in entrepreneurship, startups, business, curriculum development and pedagogy has significantly enhanced the quality of this program. • Khaled Sadeddin, Entrepreneurship and Business Management Consultant. • Maher Kaddoura, Founder and General Manager, Meydan Business Incubator. • Ayman Basheer, Startups Business Consultant.3
  • 3. 4
  • 4. Contents Program Overview P6 Incubators Checklist P8 Lead Mentors Checklist P9 Incubators Registration P 10 Incubation Agreement P 12 Lead Mentor Appointment P 14 Special Expertise P 16 Startup Relocation P 18 Company Registration P 20 Lawyer P 22 Company Registration P 24 Bank P 26 Accounting Firm P 28 Seed Fund P 30 Lead Mentors Incubation Framework P 32 Orientation Week P 34 Learning P 365
  • 5. Respect and Appreciation P 38Mentor Image P 40The Weekly Meetings P 42Corrective Actions P 44The Interaction Model P 46Monitoring Tool P 48Virtual Mentoring P 50ToolsTool # 11 : The Milestones Template P 52Tool # 15 : The Suggested Incubation Model P 53Tool # 16 : Suggested Topics for Learning P 54Tool # 17 : The interaction Model P 60Websites P 61 6
  • 6. Program Overview Objective The program aims to give carefully selected “companies” the chance to establish real business entities and operate them into profitability as going concerns. Those selected companies would be provided with seed funding, physical incubation by sponsoring businesses, and mentoring services provided by the incubators’ staff. How does it work? In collaboration with various corporate incubators across the Arab World and a funding entity, the new program aims to bridge that gap in seed funding, eco-system support, and mentorship and offer the graduates of those programs a new path leading them to set up profitable small businesses with the potential of growth. Who Would Benefit? Short Tem Targets Companies that went through the JABE and Company Program are encouraged to apply and set up growth focused, for profit business entities that are going concerns. Long Term Targets Any startup company in Arab countries where INJAZ operate can benefit from this program. A slightly different path is set for them where such companies have to meet rigorous criteria before being admitted into the program.7
  • 7. The Process• INJAZ graduates: a. Apply to the program online b. Application is subjected to a set of selection criteria c. Once approved, the application is directed to the local INJAZ office/country where the company operates or intend to operate in d. Corporate incubation is offered through a match making process, where the incubator chooses the company it wants to incubate based on its own evaluation of the services and support it can offer the incubated company i. The company is physically incubated for six months and after six months they graduate from the program and have to be market ready and able to self-sustain through profitable operations or second round of Angel investment or Venture Capital Investment. e. Each incubator assigns a principal mentor i. The mentor ensures adequate support to the incubated company through direct interaction with him/herself and other mentors in the incubator or through mentor networking activities (where the company is matched with business mentors from other companies). f. Seed funding from INJAZ (which controls the funding process) is offered based on a submitted budget (with maximum funding of $ 15,000 USD). i. The budget is linked to certain milestones and the assigned mentor from the incubator is entrusted with monitoring the expenditures of the incubated company. ii. Expenses are monitored by the accounting entity who sign off on the account in collaboration with the incubated company 8
  • 8. Incubators Checklist 5 4 3 2 1 The Startup is Mentors with The “lead” Sign the Register for physically specific mentor will be incubation and attends 6 relocated expertise are appointed / agreement with the matching welcome and assigned the startup event encouraged companyStartupreceivescheque forcompanyregistration 7 8 9 10 11fees Startup hires a Startup Startup Opens a Startup hires an Startup lawyer registers a bank account accounting firm receives seed company funding from donor through INJAZ9 Al-Arab
  • 9. Lead Mentors Checklist 12 13 14 15 16 Adopt the Startup start Start with Treat startup most with an the learning team with Be pleasant but appropriate orientation respect and firm incubation week appreciation framework 17 21 20 19 18 Meet on a weekly basis with the startups teams A virtual You are You are Corrective Mentoring provided with a provided with actions to be tool is monthly an interaction taken by available to monitoring tool model startup you (SKYPE) 10
  • 10. 1 Corporate incubator registers for and attends the matching event11
  • 11. 12
  • 12. 2 Corporate Incubator signs the incubation agreement with the startup company13
  • 13. 14
  • 14. 3 The “lead” mentor will be appointed / assigned by the corporate incubator and will serve as both a liaison officer between corporate incubator and startup company and as the lead mentor to the startup “Internal Mentor”15
  • 15. 16
  • 16. 4 Other mentors with specific expertise are welcome and encouraged to take part and contribute their time and guide incubated startup and provide them with support and help17
  • 17. 18
  • 18. 5 The Startup is physically relocated to the incubator premises or some location belonging or used by the corporate incubator and the services list on the next page get provided.19
  • 19. Providing the following services:1. Internet access.2. Office space that is clean and easily accessible.3. Close proximity to the city.4. Amenities (heating, telephone services, etc.). 20
  • 20. 6 Startup receives cheque for company registration fees from INJAZ local office21
  • 21. 22
  • 22. 7 Startup hires a lawyer23
  • 23. 24
  • 24. 8 Startup registers a company25
  • 25. 26
  • 26. 9 Startup Opens a bank account27
  • 27. 28
  • 28. 10 Startup hires an accounting firm29
  • 29. 30
  • 30. 11 Startup receives seed funding from donor through INJAZ Al-Arab31
  • 31. 32
  • 32. 12 A guideline document (Refer to Tool # 15, Suggested Incubation Model) provides a frame work for the six month of incubation and can be modified to fit the characteristics of the corporate incubator and can be tailored to best fit the needs of the startup and the corporate incubator33
  • 33. 34
  • 34. 13 Startup start with an orientation week provided by the incubator and material for orientation is to be developed individually by each incubator.35
  • 35. Individual policies for each incubator:1. Office hours.2. Rules and regulations regarding attire, attendance, noise, conduct.3. Parking.4. Expectations from startups (conduct, approaching people, treating employees, working relationships with corporate staff and management).5. Guest and visitors policy. 36
  • 36. 14 Start with the learning (Refer to Tool # 16, Suggested Topics for Learning). Refer to the next pages.37
  • 37. Learning Start point Tips:1. The timeline provided should help you identify gaps in the learning process (if a certain topic was not covered on time).2. Direct the startup team to the resources available on the INJAZ website.3. The internet has an immense variety of free business resources, many are very useful videos on YouTube and other channels.4. Encourage the students to always seek answers on their own using the internet and other available resources. 38
  • 38. 15 Treat startup team with respect, appreciation, and provide them with all the support and help they need; after all their success means your success and that of the incubator39
  • 39. 40
  • 40. 16 Be pleasant but firm, this is business and your role is to provide guidance and help41
  • 41. 42
  • 42. 17 The startup team would ideally meet on a weekly basis with the internal mentor to discuss issues, problems, progress, ideas, etc.43
  • 43. 44
  • 44. 18 Corrective action is to be taken by startup team according to mentor’s feedback after every interaction session45
  • 45. 46
  • 46. 19 You are provided with an interaction model made of three types of sessions: (Refer to Tool # 17, Interaction Model)47
  • 47. The three types of interaction sessions:1. Discovery (brain storming for ideas).2. Solutions (find solutions to problems the startup team is facing).3. Tear down (stress testing any component of the business, e.g. business model, financial model, work plan, etc.).- A description of these sessions is provided with the Interaction Model document. 48
  • 48. 20 You are provided with a monthly monitoring tool (Refer to Tool # 11, Milestones Template) that would allow you to evaluate the progress of the startup team in achieving their objectives49
  • 49. Monitoring Tips:1. Every month a meeting is set where the milestones to be achieved during that month are agreed upon and signed on.2. At the next month meeting, an evaluation is made of whether or not each milestone was achieved or not, and if not WHY?3. This would help startup team by giving them critical tasks that needs to be achieved every week and is directly tied to their WORK PLAN (provided to them in the Startup Tools Section).4. A copy of the Milestones Template is to be sent to the local INJAZ office at the end of each month. 50
  • 50. 21 You might not be physically available all the time to mentor the startup, in this a virtual Mentoring tool is available to you, (SKYPE)51
  • 51. Virtual Mentoring Tips:1. The Virtual Mentoring Manual would explain how to set up SKYPE to be a very effective virtual communication and mentoring tool where you can share documents as well as interact the startup team both audio and video.2. Follow the set up procedures identified in the Virtual Mentoring Manual and add the startup team to your SKYPE account. 52
  • 52. Tool # 11 : The Milestones Template The Milestones Template Month: Milestones Critical tasks To be done by (Date) Achieved (Y/N) Comments Sales Product development Operations Marketing Team Capital raise Mentorship Budget tracking Projected Cash Balance Projected total revenue Projected total expenses Achieved (Y/N) Comments53
  • 53. Tool # 15 : The Suggested Incubation ModelIncubation Model Phase Build Phase {12 Weeks} Launch Phase {12 Weeks} Growth Phase {0 Weeks } Angel Angel Investor (When and Stage Orientation Shape Build Launch if needed) GrowthDuration/Weeks (24 Seek at the right time for 1 1 10 12 0weeks or 6 Months) the right amount Incubator Equity Share None (unless the corporate incubator invest directly in the company)So-early-stage Seed Fund Initial funds to be provided by sponsor (Boeing) A clear of what , when, how, A clear understaing of the A fully functional release Stabilize business and acquire first Outcome where and why will do business and how to build it 1.0 of the Business customer Expand business and grow revenues things at meydan Startup Program Content, Business Model/Financial Prototype, develop, test, wokring at incubator, sales and marketing and fine tuning Content success factors, prepare for Model/WorkPlan/Investor marketing, sales, legal, business processes sales and marketing and networking Pitch alliances, risk, dashboard shape week Self learning using Self learning using reference Self learning using reference reference material Self learning using reference material Self learning using reference material Training material available on the material available on the available on the website available on the website and other available on the website and other online website website and other online online resources resources resources One-on-One pre-planned One-on-One pre-planned per On demand questions with per week Coaching One-on-One pre-planned per week day Coaching Session of 15 the coach , with periodic Session of 30 minutes or Coaching Session of 30 minutes or Coaching followup by the coach on minutes per startup more per startup more per startup company using our At least 2 hours per week with each mentor company using our sessions progress company using our sessions model (D,S,T) model (D,S,T) sessions model (D,S,T) Full Time: 8 - 12 hours per Hours per Full Time: 8 - 12 hours day, work according to daily Varies Full Time: 8 - 12 hours per day Full Time: 8 - 12 hours per day week/pioneer per day learning schedule Legal status Registered Company 54
  • 54. Tool # 16 : Suggested Topics for Learning (Beginner) Orientation Shape Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 1 Business Modeling 2 Value Proposition 3 Customer Segmentation 4 Financial Modelling 5 Develop & Execute Action Plan 6 Risk Management 7 Channels 8 Marketing Channels 9 Sales Channels 10 Distribution Channels 11 Marketing Strategy 12 Culture 13 Alliances & Strategic Partners 14 Funding 15 Sales Strategy 16 Legal Strategy 17 Product Development 18 Service Development 19 Sales Capability 20 Marketing Capability55
  • 55. 21 Delivery22 Customer Care23 Infrastructure24 Online Presence25 Testing (Product & Service)26 How To Differentiate Your Product27 Resource Management28 Operations Management29 Financial Management30 Managing Human Resources31 Managing Material Resources32 Implementing Processes & Standards33 Launch Planning34 Launch Readiness35 Acquiring My First Customer36 Soft Launch37 Identifying Growth Opportunities38 Growing Existing Customers39 Introducing New Products40 Cash Flow 56
  • 56. Tool # 16 : Suggested Topics for Learning (Beginner) 41 My Entrepreneurship 42 Retention Strategy Creating A Positive Working Culture 43 Within Your Business 44 Time management 45 Negotation 46 Selling 47 Presentation Skills 48 Resilience 49 Communication 50 Team Building 51 Leadership 52 Conflict Resolution 53 Delegation57
  • 57. Tool # 16 : Suggested Topics for Learning (Intermediate) Project Management - Getting 1 things done on time & Budget Product Development - Release 2 Planning/prototyping/Cont. Improvement Financial Management - cash is 3 king, running dollars and leveraged assets Personal Productivity - punching 4 above your weight Presentation Skills - Killer 5 presenations 6 Sales Effectiveness – sell, sell & sell Networking for Success - who you 7 know defines your reach 8 Pitching - the art of persuation Social Media - cost effective way to 9 increase your reach bandwidth Valuation - the right value at the right 10 time Growth Strategy - the only sign of 11 life is growth {how,where,when,what,why,who} 58
  • 58. Tool # 16 : Suggested Topics for Learning (Advanced) Business progress - 1 Dashboard Pioneer progress - 2 Dashboard "One page" 3 financial model 4 Full financial model Review Business 5 model 6 Blue print 7 10 week work plan Sales and marketing 8 strategy Sales model/process 9 - Click & Brick Product Development Strategy - 10 features/value proposition/cost/pro duct release schedule Alliance development - 11 marketing/ sales/content/technol ogy Networking & 12 Connecting Legal setup - 13 what/where/how/wh y/when59
  • 59. Tool # 16 : Suggested Topics for Learning (Adv. Cont.) Payment and 14 collections 15 Pitch 16 Angel investor Financial Management - Cash management/expens 17 e control/investments timing Recruiting and 18 developing the right team Partnerships among 19 the pioneers team Valuation - the right 20 value at the right time 60
  • 60. Tool # 17 : The interaction Model Discovery Solution Tear Down Idea generation Cause root or symptom? Challenge assumptions? Possible scenarios What are possible solution(s)? Why these figures? Best Practices Who can provide it? What are the facts? Whats new Where at? Is this the right answer/model? Modifications and changes At what cost? Is it the only plausible answer/model? Potential Risks When to implement? Do the numbers make sense? Various aspects to an idea Contingency plans? Are the items in the work plan in the correct sequence? * These sessions are 30 minutes each and they focus on important challenges the pioneers are encountering61
  • 61. Websites www.BusinessModelGeneration.com www.BusinessModelAlchemist.com www.MeydanJo.com/Academy www.investopedia.com tbmdb.blogspot.com 62
  • 62. The Incubators and Lead Mentors Bookletwww.INJAZAlArab.org