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Meltwater MEST presentation september 2010



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

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



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    Meltwater MEST presentation september 2010 Meltwater MEST presentation september 2010 Presentation Transcript

    • MEST Overview MBA Business Consultant Program
      October 6, 2010
      Ylva Strander, Managing Director, MEST
    • MEST Today
      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
    • Impetus for founding MEST
      How did MEST come about?
      To create jobs and wealth locally in Africa
      Train and mentor young Africans to start their own software companies and compete successfully in global markets
      • 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
    • International Staff
      - Three Directors
      - Two Senior Faculty Instructors
      - Seven Teaching Fellows
      - Countries Represented:
      United States, Netherlands, Germany, Norway, Sweden, Pakistan, Ghana
    • MEST Program Overview
    • Entrepreneurial Program in 3 phases
      Three Phase Program
      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
      -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
    • MEST Training Program
    • MEST Pillars
      Project work
      Entrepreneurial training
      Guest lecturers
    • Semester Objectives
      Application to Incubator
      From idea to prototype, Business plan, and investor pitch
      Software development life cycle
      Programming skills
    • A closer look
      What does it look like at MEST?
    • A closer look
      What does it look like in Ghana?
    • Class of 2011
      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
      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
    • MEST Incubator
    • 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
    • MEST Incubator
      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
      Slix.tr: Portal for internal corporate communication
    • Incubator
      More pics from 19 Banana street…
    • Your role
      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
    • Thank you!