INJAZ Al-Arab Staff Booklet


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INJAZ Al-Arab Staff Booklet

  1. 1. Startup ProgramINJAZ Staff Booklet
  2. 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
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  4. 4. Contents Program overview P6 INJAZ Staff Checklist P8 Steps flow P 10 Marketing Campaign P 12 Invitation P 14 Application P 16 Review & evaluate P 18 Candidate selection P 20 Business plan P 22 Business plan checking P 24 Top companies P 26 Investors and incubators marketing campaign P 28 Matching event planning P 30 The matching event P 32 Agreements P 34 Legal and accounting services P 36 Startups formation P 38 Seed funding P 40 Accounting firm Selection P 425
  5. 5. The accounting firm P 44Funding Money P 46Operations P 48Performance monitoring P 50Startups leave P 52Documentation P 54Communications sustainability P 56ToolsTool # 1: Invitation Template P 58Tool # 3: Executive Summary Scorecard Template P 59Tool # 5 : 2 Minutes Elevator Pitch Scorecard P 60Tool # 7 : Business Plan Score Card Template P 61Tool # 8 : Applicants Interview Scorecard Template P 62Tool # 9 : Signup Sheet P 63Tool # 11 : Milestones Template P 65Websites P 66 6
  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. 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. 8. INJAZ Staff Checklist 5 4 3 2 1 6 Select Review and Receive Invite Start aInvite those Marketing Candidates evaluate Application Studentscandidates to Campaign for the applicationssubmit their startupfull business programplans 7Check 8 9 10 11 12businessplans forcompletion Invite selected Choose the top Start a Plan matching The candidates for companies and investors and event to matching a 1 hour invite them to incubators match event interview the matching marketing relevant event campaign sectors9
  9. 9. 13 14 15 16 17 18 Matching Companies Startups are Seed Funding Need acquire legal The happens and formed is provided to and accounting Agreements select an accounting firm would be are signed accounting services a cosigner on firm all expenses 1924 23 22 21 20 The Funding Money is deposited Continuous Document the startups leave Monitors the Operation contact with the success or the incubator performance commence startups failure premises and start their own offices 10
  10. 10. 1 Start a Marketing Campaign using existing database of INJAZ Alums (Refer to Tool #1, Invitation)11
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  12. 12. 2 Invite Students13
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  14. 14. 3 Receive Application (application includes executive summary and a video of the 2 minute elevator pitch)15
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  16. 16. 4 Review and evaluate applications using the 2 SCORE CARDS ( Refer to Tool # 3, Executive Summary Score Card, and Tool #5, 2 Minute Elevator Pitch Score Card)17
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  18. 18. 5 Select Candidates for the startup program19
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  20. 20. 6 Invite those candidates to submit their full business plans (Refer to Tool #6, Business Plan Template)21
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  22. 22. 7 Check business plans for completion and thoroughness against a check a list (Refer to Tool # 7, Business Plan Score Card)23
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  24. 24. 8 Invite selected candidates for a one hour interview (Refer to Tool #8, Applicants Interview Score Card)25
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  26. 26. 9 Choose the top companies and invite them to the matching event27
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  28. 28. 10 Start a marketing campaign (signup sheet detailing the commitment of corporate incubators and of investors describing their involvement, Refer to Tool # 9, Signup Sheet).29
  29. 29. For incubators and investors1. As an incubator you are expected to provided I. Physical space. II. Assign a lead mentor. III. Access and support by the various departments in the corporation (legal advice, accounting advice, marketing, etc).1. As an investor I. Cash for equity. II. You can provide mentoring.2. You can be “1” or “2” or both.3. Why are you doing this ? I. CSR activity for the whole company. II. ROI on investment. 30
  30. 30. 11 Plan matching event to match relevant sectors where incubators are invited (where candidates are matched with funders and incubators)31
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  32. 32. 12 The matching event includes; a) Pitches b) Booths c) Q & A Sessions33
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  34. 34. 13 Matching happens and Agreements are signed (Refer to Tool# 10, Sample MOU Agreement) (This MOU template has to be modified by each local INJAZ office).35
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  36. 36. 14 Companies acquire legal and accounting services (paid for by the funder through the seed funding provided). First check written is provided by INJAZ office for the registration and legal fees.37
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  38. 38. 15 Startups are formed (companies registered Such as LLC or sole proprietary, probono from the corporate incubator)39
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  40. 40. 16 Seed Funding (up to $5,000 USD) is provided through INJAZ , additional funding can be provided from other sources/corporate incubators/angel investors (some would require equity in the companies formed)41
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  42. 42. 17 Need to select an accounting firm that would work with the startups and provide accounting and auditing services on a preferred rate43
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  44. 44. 18 The accounting firm would be a cosigner on all expenses45
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  46. 46. 19 Then the Funding Money is deposited into the startup companies’ respective banks accounts47
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  48. 48. 20 Operations commence49
  49. 49. Operations overview:1. On a monthly basis you will receive the Milestones Template filled out by the incubator mentor detailing the progress of the startup company (Refer to Tool #11, Milestones Template)2. You will also receive a monthly evaluation by the startup company of the Lead Mentor’s performance (Refer to Tool #12, Lead Mentor Score Card) 50
  50. 50. 21 Through the use of monitoring tools, INJAZ Staff monitors the performance of; 1. Lead Mentor 2. Startup companies51
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  52. 52. 22 Once the Six months incubation cycle is over, the incubated companies leave the incubator premises and start their own offices53
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  54. 54. 23 Document success or failure of the startup incubation life cycle55
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  56. 56. 24 Continuous contact with the startups even after leaving the incubator is a must and contact information of each startup should be maintained and updated periodically for evaluation57
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  58. 58. Tool # 1: Invitation Template Dear INJAZ Alum; You are hereby invited to participate in the INJAZ Startup Program. 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 and other mentors. Successful companies would graduate the incubation period as fully operational, fully staffed, fully productive, financially viable, and continues to make profits. Please visit our website at to start the application process. We look forward to receiving your application and wish you success. INJAZ Team59
  59. 59. Tool # 3: Executive Summary Scorecard Template Executive Summary ScorecardItem Name Score Out of Possible1. Company Logo 102. Company Snap Shot Year Founded 2 Industry 2 Annual Sales 2 Growth Rate 2 Investment Requested 2Big Problem 10Unique Solution 10Market Potential 10Unique Selling Proposition 10Management Team 10Business Model 10Financial Projections 10Request 10 TOTAL 100 60
  60. 60. Tool # 5 : 2 Minutes Elevator Pitch Scorecard 2 Minute Elevator Pitch Scorecard Out of aItem Score Possible1. What is your product or service? 10Did he/she briefly describe what they sell without going into excruciating detail.2. Who is your market? 10Did he/she briefly discuss who they are selling the product or service to. What industry is it? How large of a market do they represent?3. What is your revenue model? 10More simply, did he/she clearly explain how would they make money?4. Who is behind the company? 10Did he/she tell you a little about themselves and their teams background and achievements. If they have a strong advisory board, didthey say who they are and what they have accomplished?5. Who is your competition? 10Dont have any? Did he/she say they have NO COMPETITORS? Did he/she briefly discuss who they are and what they haveaccomplished. Successful competition is an advantage-they are proof the business model and/or concept work.6. What is your competitive advantage? 10Simply being in an industry with successful competitors is not enough. Did he/she effectively communicate how their company isdifferent and why they have an advantage over the competition. A better distribution channel? Key partners? Proprietary technology?7. Does he/she have good presentation skills? 10Do they have good command of language (Arabic or English or French)? Was their body language appropriate?8. Were they convincing in their pitch? 10Would you tell others about their prodcut or service? Did they leave a good lasting impression on you?9. Did they have passion? 10Did they get you to believe in him/her?10. Did the idea make sense to you? 1011. If you have money, would you invest in them? TOTAL 100 61
  61. 61. Tool # 7 : Business Plan Score Card Template Business Plan Score Card Out of a Item Score Possible Exective Summary 10 Mission 10 Company Overview Legal Business Description 10 Strategic Alliances 10 Product Current Product 10 Research and Development 10 Production and Delivery 10 The Market Market Definition 10 Customer Profile 10 Marketing Plan 10 Sales Strategy 10 Distribution Channels 10 Advertising, Promotion, PR 10 Competition 10 Risk/Opportunity 10 Management Team 10 Capital Requirements 10 Exit/Payback Strategy 10 Financial Plan Assumptions 10 Financial Statements 10 Conclusion 10 Exhibits 10 TOTAL 220 62
  62. 62. Tool # 8 : Applicants Interview Scorecard Template Interview Instructions of Applicants to the Startup Program1. Invite interviewee to sit2. Try to calm the interviewee3. Be friendly4. Have another person with you in the interview (co-interviewer) to take notes and watch the body language of the entrepreneur, the co-interviewer should have a business background and/or experience5. Some of the questions are subjective rather than objective6. Use your best judgment7. Take notes of the answers and give tentative score for each question8. Ask your self if the answer is convincing9. Ask your co-interviewer for his/her feedback on every question10. Ask the questions in the order listed to evaluate the entreprenuer11. Ask for specific examples proving the entrepreneur answers (for example: a specific example from his/her past experience proving howhe/she maintained their drive to Succeed)12. If for any question the entrepreneur fails to give you a specific example from their past experience, award him/her with 5 out of 10 if theyonly manage to answer but with no specific example13. For line 21 (persuasiveness), ask for a specific example where the entrepreneur was successful in selling something or an idea to people14. Watch for signs of lying (avoidance to look you in the eyes, yellow smile, an attempt to laugh all the time and turn the question and answerinto a joke)For the Idea SectionFollow the same pattern 63
  63. 63. Tool # 9 : Signup SheetPlease circle all that appliesAre you:1. An Incubator.2. An Angel Investor.As an incubator, once you sign an incubation agreement with one of the startupcompanies at the matching event, you will be agreeing to provide thefollowing:1. Physical space.2. Assign a lead mentor.3. Access and support by the various departments in the corporation (legal advice, accounting advice, marketing, etc.). 64
  64. 64. As an incubator you are participating in this program and providing theabovementioned services as:1. CSR Activity for the whole company.2. Marketing & Branding Activity.As an investor, by attending the matching event you will be exploring eitherinvesting in a startup company or providing mentoring a startup company orbother. In essence, as an investor you are expected to provide either:1. Cash for equity.2. Mentoring.3. Or both.If you decided to invest in any of these startup companies, the primary reasonyou would invest is the fact that you are seeking a high positive ROI. 65
  65. 65. Tool # 11 : Milestones Template Milestones Template Month: Milestones Critical tasks To be done by (Date) Achieved (Y/N) CommentsSalesProduct developmentOperationsMarketingTeamCapital raiseMentorshipBudget tracking Projected Cash Balance Projected total revenue Projected total expenses Achieved (Y/N) Comments 66
  66. 66. Websites tbmdb.blogspot.com67
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  68. 68. INJAZ Staff