In order to access Startup Somali Acceleration Programme, each startup has to go through the stages.
Besides the grants and the co-working space, StartUp Somali offers an acceleration program that includes:
- Academy: Training program (workshops, talks and other learning experiences), and Pitch Training.
- Connections: Global and local mentors, investors, and market networks.
- Events: External and internal events (Demo Day and Tech Evenings).
- Experience: Soft-landing and internal activities to promote the networking and the creation of a community.
STAGE 1: The core target for STAGE 1 are individuals who have a business idea but don’t have sufficient information/knowledge to start planning. Acceleration Program will help you through a series of orientations for young people interested in establishing a tech startup. Acceleration Program Team will evaluate your idea, and get back to you with the next steps.
STAGE 2 : Individuals form teams to develop a prototype. Additional teams that may already exist and are operating at early stages of prototyping can be considered to enter the process at this stage. At STAGE 2, teams participate in a month-long pitch preparation program. Teams are provided with key services (technical, legal, accounting, IP, and business support). At this stage, teams work on prototype development, financial aspects, marketing, testing product distribution, scalability and all other fundamentals to have a Minimum Viable Product. At the end of the month, teams prepare a final pitch in front of judges, which is used as a metric to transition to STAGE 3.
STAGE 3: Acceleration Program, which includes a mentorship program with national and international business leaders. The Acceleration Program will support a selected number of promising teams in further developing their products and services so that they can pitch to potential investors for follow-on financing. At the end of this program teams will be selected, based on their performance in the acceleration program, to be a part of Demo Day. This day gives teams the ability to pitch to a group of invited investors to hopefully be selected for seed funding.
Call for applications 2016/2017
- The Acceleration Program
Deadline: October 15th, 2016