Meltwater MEST presentation september 2010


Published on

Meltwater presenterar sitt interna utbildningsprogram som utvecklar framtidens programvaroentreprenörer i Ghana.

Published in: Education
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Meltwater MEST presentation september 2010

  1. 1. MEST Overview MBA Business Consultant Program October 6, 2010 Ylva Strander, Managing Director, MEST
  2. 2. – Private in-house training program to develop future software entrepreneurs in Ghana – International NGO fully funded by Meltwater Group through Meltwater Foundation – 85 person organization with 2 classes and 7 Incubator companies – International territory where history is being written MEST Today
  3. 3. Impetus for founding MEST How did MEST come about? Vision To create jobs and wealth locally in Africa  Fundamental belief in people – talent is equally distributed across the world, what differs are the resources and support given to some and not others  Giving back – wanting to have an impact beyond the direct economic effect of our business operations  Maximizing the impact • focus on education/training – “Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.” • influencing future generations – creating positive role models, who prove that globally competitive software can come from Africa • software as a vector for growth – a high-growth space, where products can be competitive with minimal upfront capital investment and limited resources  Why Ghana? English-speaking, focus on education, government support for tech sector, easily accessible from US/Europe/Asia, politically stable, high degree of safety Mission Train and mentor young Africans to start their own software companies and compete successfully in global markets
  4. 4. • - Three Directors • - Two Senior Faculty Instructors • - Seven Teaching Fellows • - Countries Represented: United States, Netherlands, Germany, Norway, Sweden, Pakistan, Ghana International Staff
  5. 5. MEST Program Overview
  6. 6. Three Phase Program MEST MINC Mentoring 1. Training 2. Incubation 3. Mentoring -2 year full-time paid traineeship -In-house training in commercial software development and entrepreneurship -Fully paid hostels and two hot meals per day -Allowance -1-2 year incubation of business ideas based on software concept -Seed funding and infrastructure provided by Meltwater -Open for qualified graduates of MEST -Accra, London, Frisco -Start-up company commercially active on the global market place -Supported by a mentor program consisting of world- class executives and entrepreneurs Entrepreneurial Program in 3 phases
  7. 7. MEST Training Program
  8. 8. Project work Seminars Entrepreneurial training Guest lecturers MEST Pillars
  9. 9. Programming skills Software development life cycle From idea to prototype, Business plan, and investor pitch Application to Incubator Semester Objectives
  10. 10. A closer look What does it look like at MEST?
  11. 11. A closer look What does it look like in Ghana?
  12. 12. • Currently in their 3rd semester out of 4: – 14 Entrepreneurs-In-Training (EITs) – Four teams of 3 or 4 people – Use of agile software development methodology – 30 page full business plan  Research in progress  Business plan in draft format  Final plan this semester due November 10th Class of 2011
  13. 13. • Current projects – Tickety: a mobile ticketing service for purchasing bus tickets in Africa – PinPoint: location based service for smart phones in Africa allowing users to search for locations and event – FonBox: sms based social network for Africa using group messagin – Home stay portal for Africa Class of 2011
  14. 14. MEST Incubator
  15. 15. Incubator What happens after the training?  Launched in February 2010  Invests in and supports startups from the MEST Training program  Located in Accra, Ghana with long-term goal to partner with incubators in Silicon Valley & London to provide short-term direct access to US & UK markets  EITs apply to the incubator with their final projects from the training program  Incubator selection panel chooses which teams are accepted into the incubator  Main investment criteria: • potential of team to execute on business plan • viability of idea • international applicability  The incubator provides: • initial seed funding  typically $30k-$200k (in tranches)  in return for a minority equity stake  ideally to provide enough runway to produce commercially viable solution & initial revenues • office space • access to a network of advisors/mentors • hands-on assistance in business aspects from incubator staff  Only MEST training program graduates and alumni are eligible to apply to the incubator  Has been mentioned as one of the top tech incubators on the African continent!its
  16. 16. • Currently 7 software startups: – Leti Games: Multi platform online game – Streemio: Music streaming service for mobile phones – Nandi Mobile: Mobile directory and SMS-based customer service application – Retail Tower: Inventory management system for online retailers – Dealeezy: SMS- based student discount service – Tutamee: Platform for high quality educational content – Portal for internal corporate communication MEST Incubator
  17. 17. Incubator More pics from 19 Banana street…
  18. 18. • Review business plan and give feedback • Weekly conference call with team • Provide weekly status to Sr. Faculty • Last part of term work with teams on business idea generation and validation • If volunteer for two terms, provide lecture in Ghana next term • Build long-lasting relationships Your role
  19. 19. Thank you!