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T14F: The Incubator Initiative and VentureDive's Next Home
The 14th Floor (T14F) is a proposed not-for-profit community space in Karachi, Pakistan that will provide workspace and services to entrepreneurs, technology enthusiasts, and students. It aims to spur entrepreneurship by enabling collaboration, networking, and access to infrastructure, mentors, and talent. T14F has secured a facility location and organizational registration, and is seeking funding to complete construction and launch programs in 2014 to build an entrepreneurial ecosystem.
T14F: The Incubator Initiative and VentureDive's Next Home
- 1. Project Code: The14th Floor
- 2. T14F – TheVision A not for profit project committed to creating a community space for Pakistan‟s enterprising youth that: ▪ Provides a vibrant environment for entrepreneurs and technology Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed enthusiasts to gather and exchange ideas, ▪ Is a hot bed for technology innovation ▪ Offers a platform (forum) that encourages collaboration, enables networking and creates employment opportunities “Entrepreneurship spurs economic growth, but how do you spur entrepreneurship?” 1
- 3. Current Gap University ▪ Bridging the gap between „Business Plan Competitions‟ & Real World 1 Students ▪ Limited access to infrastructure, entrepreneurs, mentorship & talent ▪ Finding co-founders is very difficult due to lack of social spaces 2 Young Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed Professionals ▪ Private space for after-work brain storming, hacking & engaging community ▪ Potential mentors, but lacking organized access to students and professionals 3 Successful Entrepreneurs ▪ Engaging with other successful entrepreneurs outside of their own domain Corporate ▪ Typical „innovators dilemma‟ – existing team is not thinking disruptive 4 Intrapreneurs ▪ No avenue for finding innovative, entrepreneurial „partners‟ for organic growth ▪ Experts from Silicon Valley – assisting local talent, or hunting for their new 5 Visiting Experts ideas, people and teams ▪ Looking to setup in Pakistan, but facing infrastructure challenges ▪ Access to smart people, team 6 Investors ▪ Access to innovative ideas at early stage & participate in them 2
- 4. T14F - Overview ▪ Technology “Plug and Play” for entrepreneurs and technology enthusiasts to gather and exchange ideas ▪ Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed The T14F “Appeal” – Creating an ecosystem that fosters inspiration and enablement – Proximity to smart and intellectually curious people – Enables networking, collaboration, sales leads and employment opportunities – Hotbed for innovative ideas – Free Coffee, Free Wireless Internet ▪ Founded in 2013 by successful technology entrepreneurs from Stanford University and University of Texas Austin 3
- 5. T14F – Boardof Advisors ▪ Founder of Perfigo, a technology ▪ Pakistan start-up expert – early startup in Silicon Valley. Acquired employee in 3 start-ups by Cisco Systems ▪ Founder of 2 start-ups ▪ 5+ P@SHA ICT Awards Atif Azim Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed Advisor Farzal Dojki Advisor ▪ Founder & CEO, NexDegree Private Limited ▪ 4 open advisory positions Imran Moinuddin Advisor
- 6. T14F – ServicesOffered ▪ Seating for 90-100 people + café for 40 1 Workspace ▪ Workspaces for plug & play users, Project “zones” for larger teams ▪ 3 seating types – “deadline serious”, “library whisper” & “casual café” ▪ High Speed Internet, Video Conferencing Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed 2 Business Services ▪ Printing and Scanning, Mail and delivery services ▪ Redundant Internet connectivity, back up power supply ▪ Conference rooms with projection capabilities 3 Meeting Rooms ▪ Brainstorming rooms with whiteboards ▪ Mix of formal & casual seating ▪ Hosting of community events for up to 60-70 attendees 4 Events ▪ Corporate events – Seminars, Investors, Trainings ▪ Networking Events – Hack-a-thons, Brown Bag Sessions ▪ Low barriers to entry – encourage memberships for casual hangout 5 Packages ▪ Student, Freelancer and Start Up plans ▪ Day, Weekly and Monthly passes 5
- 7. T14F – ProposedSite Plans ▪ 7,500 sq ft facility on the 14th floor of a modern office building 1 Location ▪ 24x7 access ▪ Panoramic views of the city ▪ Parking for 500 cars within 5 minute walking distance Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed ▪ 125 feet of non-stop glass exterior, 270 degree view of Karachi 2 Ambiance ▪ Ambient light permeating the entire facility ▪ Minimalistic furniture patterned on International best practices ▪ Building hosts mostly technology outfits 3 Neighborhood ▪ Within 10 minutes from National IT Parks, PSEB & P@SHA offices ▪ Proximity to leading Universities - KU, NED, IBA, KSBL ▪ Easy accessibility to restaurants, shops ▪ Café area with self-service model 4 Recreation ▪ Gaming stations; Foosball, Table Tennis ▪ Library with collection of 200+ books 6
- 8. Working Draft -Last Modified 10/19/2012 8:23:50 AM Printed 7 T14F – Proposed Layout T14F – Proposed Layout
- 9. T14F – InteriorConcepts Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed Open Workspace Casual Seating Café and Recreation Conference Rooms Project “Zones” 8
- 10. T14F – BusinessModel ▪ Not for profit – but self sustaining ▪ Proven Global Model - The main source of revenue will be membership charges ▪ Target Audience Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed ▪ Individuals or startups with a passion for technology based innovations ▪ Freelancer community from TED disciplines ▪ Pakistani Diaspora across the Globe, wanting to incubate product engineering teams without operational worries ▪ Regional companies (Lahore/Islamabad/GCC/Singapore) companies wanting a travelling office in Karachi ▪ Pricing survey conducted, received positive feedback ▪ Break even at 60% occupancy ▪ Commitments for 40% occupancy in place 9
- 11. T14F - Roadmap 2015 2014 Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed Incubation 2013 Startup Investments Acceleration Plug and Program Play Center Networking Events Building an entrepreneurial ecosystem 10
- 12. Current Status ▪ Facility ▪ Rental contracts agreed ▪ Possession by February end ▪ Organizational Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed ▪ NGO registered under Societies Act ▪ In process of adding advisory team members ▪ Construction ▪ Architect has been identified ▪ Facility layout has been finalized ▪ Interior design in the process of being finalized ▪ Estimated construction time: 3-4 Months ▪ CAPEX Funding ▪ Cost analysis and Revenue model complete ▪ Funds contributed so far: USD 68,000 ▪ Remaining funds to be raised: USD 62,000 11
- 13. T14F – InvestmentOpportunity ▪ Why Invest? • Brand association with entrepreneurial youth of Pakistan • Example: Apple Plug & Play Center with Cisco sponsored Video Conferencing rooms Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed ▪ Early investment opportunity in innovative ideas ▪ Access to high caliber talent pool ▪ For the encouragement and the betterment of Pakistan‟s youth ▪ How Much Do I need to Invest? ▪ We are looking for investors to sponsor the following areas: ▪ Plug and Play area – USD 35,000 ▪ Café and Events area – USD 25,000 ▪ “Zone” Sponsorships – USD 5,000 – 10,000 ▪ When Do I need to Invest? ▪ Initial commitment of funds – February 2013 ▪ Actual disbursements – March through June 2013 12
- 14. Branding Ideas ▪ Example: Apple Plug & Play Center 1 Facility name ▪ Example: Nokia Innovation Center ▪ Example: Time Machine 2 Working Zones Working Draft - Last Modified 10/19/2012 8:23:50 AM Printed ▪ Example: The Amazon Conference ▪ Example: App Store 3 Rooms ▪ Example: Kindle Fire ▪ Example: X-Box 4 Recreational Area ▪ Example: HP Pavilion ▪ Example: Red Bull Café 5 Cafe ▪ Example: Google Hangout ▪ Sponsorship of Business plan competition winners 6 Misc Others ▪ Funding for social entrepreneurs or NGOs 13