Building a startup ecosystem in Q8

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Building a startup ecosystem in Q8

  1. 1. OK,  so  we  agreed  that  we  need  entrepreneurs,  mentors,  a  service  providers,  university,  investors  and  the  government  all  involved  to  have  a  Startup  Ecosystem         Entrepreneurs   University   Startup   Investors   Mentors   Ecosystem   Service   Government   Providers  Done  by  Abdullah  Alshalabi  –  ashalabi7@gmail.com  
  2. 2. In  Kuwait  our  government  never  last  more  than  1  year,  so  let’s  remove  it  from  the  equaCon  to  make  things  easier   Entrepreneurs   University   Startup   Investors   Mentors   Ecosystem   Service   Providers  Done  by  Abdullah  Alshalabi  –  ashalabi7@gmail.com  
  3. 3. So  the  quesCon  is,  what  is  the  best  way  to  kick  start  a  Startup   Ecosystem  in  Kuwait?  ?   Entrepreneurs   ?   University   ?   Startup   Ecosystem   Investors   ?  ?   Mentors   Service   Providers   ?   Done  by  Abdullah  Alshalabi  –  ashalabi7@gmail.com  
  4. 4. The  answer  is……….through  incubators   What  is  an  incubator?   Is  a  program  that  supports  entrepreneurial  companies  to   Money   develop  and  grow  their  businesses.  Incubator  usually   provide  funding,  mentors  and  services  (office  space,  legal,   financial…etc)  for  a  small  equity  share  in  the  startup,   $50,000   usually  less  than  15%.   Services  You  have  a  brilliant  idea   You  apply  to  the   You  get   incubator   accepted   Mentors   The  incubator  usually  provides  its  services  to  20-­‐30   startups  (every  year),  hoping  that  some  of  them  will   be  a  hit  in  the  near  future.   Done  by  Abdullah  Alshalabi  –  ashalabi7@gmail.com  
  5. 5. Below  is  a  list  of  some  famous  incubators  from  around  the  world:   USA   USA   EU   $18K  for  6%  equity     EU50K  for  10%  equity     $15K  -­‐$20K    for  <   10%  equity     Mentorship,   Mentorship,   Mentorship,   training  and  office   training  and  office   training  and  office   for  3  months     for  3  months     for  1  year   EU  &  South  America   USA   Kuwait   ?   EU40K-­‐50K  for  10%   $25K-­‐$100K  for  5%   equity     Mentorship,  training   Mentorship,  office  and   and  office  for  1  year   designers  network  for   3-­‐6  months    Done  by  Abdullah  Alshalabi  –  ashalabi7@gmail.com  
  6. 6. OK,  so  if  we  have  an  incubator  we  will  have  most  of  the  elements:   Money  =  investors,    services  =  service  providers,  mentors  and   entrepreneurs  ✓   Entrepreneurs   ?   University   ?   Startup   Ecosystem   Investors   ✓   Service  ✓   Mentors   Providers   ✓   Done  by  Abdullah  Alshalabi  –  ashalabi7@gmail.com  
  7. 7. But,…     who  should  be  the  incubator?     How  can  we  convince  mentors  to  join?   How  can  we  a_ract  talented  people  to  support  us  and  join   the  move?  How  can  we  get  the  a_en`on  of  the  investors,  the  press    and  the  government  all  at  the  same  `me?     How  should  the  incubator  be  structured?   Who  fits  the  right  profile  to  run  this  incubator?   And  so  many  other  ques`on…..   Done  by  Abdullah  Alshalabi  –  ashalabi7@gmail.com  
  8. 8. In  short,  we  need  an  incubator  to  accelerator  the  startup  scene  here  in  Kuwait.  Who  should  be  the  incubator?  And  how  should  it  be  structured?  These  are  the  ques`ons  that  will  be  answered  in  the  next  post,  stay  tuned  :)   Entrepreneurs   University   Kuwait   Mentors   ?   Service   Providers   Investors  

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