Beeline Startup Incubator Rules and Regulations Yerevan 2018
Content 1.Definitions 2.Introduction 3.Incubator Staff 4.Startup Selection 5.Benefits for Residents 6.Events 7.Resident s Responsibilities 8.Resident s Rights 9.Incubator s Responsibilities 10.Incubator s Rights Appendix 1. Startup Selection Criteria A. Selection Criteria B. Advice for Applicants Appendix 2. Application process A. Procedure B. Open call C. Online application/viability study D. Validation of the application E. Interviews F. Onboarding Appendix 3. Educational program A. Notes B. Program Appendix 4. Application form
1.Definitions Beeline Startup Incubator Incubation cycle Training cycle Resident startup ( resident) Student One time visitor (visitor) Educational program Mentorship day Incubator expert Co-working space Incubator staff Further Incubator is a techhub that supports digital startups to grow by providing services, i.e. education, co-working space, etc. 4 months period of educational program, meetings session and various events for the selected startups. Up to 2 months period of thematic trainings. - Startup selected by Beeline incubator with access to co-working space and all benefits; - participant of educational programs (events, classes, workshops, etc.). Resident s responsibility is to actively participate in all events organized by the Incubator. Selected individual to pass up to 2 months training cycles. One time participant of open events. The sequence of trainings, workshops and various events for educating startups for the improvements, and assisting them to reach to the point to be presented to the investors, partners, media, etc. Meetups or dinners with startup and/or business founders, as well as alumni network, and sharing experiences and knowledge with residents. Experts invited from VEON and/or outside to educate startups and share their experience with them. The place equipped with computers, furniture, projectors, wifi, etc., will be free of charge for resident startups to use during their incubation cycle. Specially hired individuals to support the growth of
Beeline incubator, organizing various events, keeping the discipline in co-working space, etc. Demo day Alumni network Mentor Partner Specially organized private event by Beeline incubator, when resident startups will pitch in front of the selected audience investors, mentors, partners, media, etc. Network of resident startups from the previous incubation cycles. Industry leading professionals for supporting startup growth by their knowledge. Industry leading professionals for becoming part of the startups and supporting their growth by their resources: knowledge, connections, etc. 2.Introduction Beeline startup incubator is a platform, where startups with a great potential of success will be educated by industry leaders and communicate with successful entrepreneurs. Beeline Startup Incubator is designed to help viable Armenian startups who are going to produce digital products and services, which later can be offered to VEON platform users on VEON marketplace, to grow and succeed by providing resources, information, advice, trainings, and pro-innovative services. The incubator creates an environment where startups can develop and become sustainable companies, to promote their successful selfrealization both on local and foreign markets. The main goal is to bring the startup to the point where it has built something impressive enough to raise money on a larger scale. The incubator helps to produce successful business that leaves the Incubator financially viable and freestanding, realizing in global market. Each incubation cycle will last 4 months for the resident startup. During that 4 months particular events, trainings and meetings will be organized. Resident startups are ought to provide active participation in all events, trainings and meetings.
3.Incubator Staff Incubator will have 4 employees: 1. Incubator program manager organizing various events, meetings, workshops and trainings, manages relationships, plans overall activities, resources and budgets, responsible person for communications; 2. Program assistant (3 shifting employees) meeting all residents, students and visitors, assisting in organizing events, meetings, workshops and trainings, having the full information of all activities in the Incubator; 4.Startup Selection Beeline Startup Incubator is looking for innovative, digital, high growing startups with great potential. Each resident startup can access resources and help from the incubator experts. The most promising startups, that passed the competitive selection (Appendix 1), will become a resident in Beeline Startup Incubator and get access to all benefits. We are always hiring new and innovative ideas, creative and hardworking teams. How to become one of Incubator residents (Appendix 2.): Submit an online application form; Meet in person with the incubator staff and invited experts. Invited experts will pass the screening process from local compliance. If the startup meets all required criteria* (Appendix 1.), then it is selected for the next 4-month incubation cycle. For each incubation cycle 10 startups are selected with minimum of 2 team members. If the team size is more than 5 people, than maximum 5 members should be chosen to pass through incubation process.
5.Benefits for Residents Becoming a resident at Beeline Startup Incubator means not only joining the co-working space, but also having opportunity to access to these benefits: Access to Beeline Big Data- using DMP When it comes to understanding the startups target audience and customer s preferences, big data plays a very important role. It even helps anticipate startup needs. Startup business operations will be much more optimized, fast-moving and corresponding to market trends. Inspiring work environment surrounded by entrepreneurs Innovative, digital and just positive atmosphere. Startups will be surrounded by goal oriented and high achieving people and have access to high speed internet. Incubator s location Incubator is located in the main center of Yerevan, 4 Northern Avenue, which makes easier Startup clients find them. Technical assistance and access to multimedia equipment Multipurpose spaces with multimedia tools such as projection equipment for meetings, reception areas and meeting rooms, scanning, printing, copying, etc. Entrepreneurial support and mentorship Startup chances of success will be amplified by having the right mentor. It means valuable connections, timely advice, occasional checks, and of course with the spiritual and moral guidance. The right introduction to a potential customer or employee can turn something from a good idea into a viable opportunity. Education: trainings, workshops, thematic events Through the Incubator resources and staff, startups are able to get handson training and knowledge from some of the best minds. During Incubation period startups will learn and grow. Workshops, meetups, trainings will typically empower startups with the tools and lessons they need to increase the success.
Networking activities: ability to tap into a strong network of business partners Business networking and relationships are crucial for entrepreneurs. In Beeline Startup Incubator startup will network with other founders, experts, financiers, and anyone else that can help startup to start a business and make it success. Startups will meet investors, gain influential partners, expand the team and discover new clients and opportunities. Provision of products, services at VEON marketplace More than 230 M Mobile Customers in 12 Countries. The exclusive benefit for Founders to promote their Product in Global Market. Demo Days for Investors In the end of each incubation cycle, the incubator hosts Demo Day where all high-growth startups can present their products and services to a specially selected audience investors, media, partners, experts, etc. Alumni network Resident startups can meet alumni startups, have their contacts and ask for advice and help. Alumni network can connect startups to right people and companies, assist on beta testing and advice on pitching on Demo Day. Ongoing mentorship from VEON digital office employees A full-time team will be working at the same co-working space of the incubator and provide direct business assistance to residents. PR for the incubator and resident startups PR campaigns will be organized for the incubator and resident startups. 6.Events Educational program (Appendix 3.): VEON experts and industry leaders will share their experience and knowledge with the residents in different topics: Innovation, Project Management, Sales, Marketing, PR, Idea Validation, Creating a
business plan, Design, Pitch deck preparation, Public speaking, etc. Trainings can be organized in different formats informal trainings (coffee breaks, dinners, lunches and so on) and formal trainings (in the incubator meeting rooms). Training cycle: Thematic workshops by industry leading trainers for up to 2 months period for the selected audience - students. Mentorship day: Startup leaders and alumni startups will share their experience in informal meetings Q/As during coffee breaks or dinners. Monthly monitoring meetups(mandatory for the residents): Each month during incubation cycle all resident startups will have a one on one meeting with incubator staff and invited audience to monitor residents progress: What have you done during the previous month? What was your objective for the previous month? How would you rate your success during the previous month? What haven t you done in the previous month that was planned? Why? What is your plan for the next month? After the meetups startups will be evaluated and based on their score (scores will range 0-100) there would be 3 options for each of them: 1. they received a high score (70-100) and they can continue their residence in the incubator; 2. they received a score near to average (50-70) and need to prove their progress and their right to continue the incubation program in a short time; 3. They received a low score (0-50) and will be out of the incubation program. Office hours: Resident startups can book one of the meeting rooms and have a meeting with the incubator staff, alumni startups, mentors, VEON employees including Digital office employees and invited experts ask questions, ask for a piece of advice, share experience, etc. Welcome party: Introducing resident startups to each other. Will be organized for each incubation cycle start.
Demo days for investors and industry leaders (mandatory for the residents): In the end of each cycle, resident startups will present their pitch decks to the selected audience of industry leaders, media and potential investors (angel investors, business angels, VCs, etc.). Rehearsal party: Celebrating the successful completion of the incubation cycle.
7.Resident s Responsibilities Resident is responsible to: participate in the educational program organized by the incubator; inform about the reason of not participating to any event; use the incubator s furniture and equipment properly and not to damage them; keep the rules of co-working space, which will be provided by the separate document; inform about any changes in their startup structure change of team members, closure of the startup, merging with another startup, etc. participate in monthly meetings with the incubator staff and invited experts for updating the startup s status, informing about the progress during the previous month and presenting the plan for the following month; participate and pitch in Demo Day organized by Beeline incubator. 8.Resident s Rights Resident has a right to: not participate in any event organized by the incubator in case of having respectable reason or force majeure situation, only by informing about it to the incubator staff; use meeting rooms and co-working space following the rules; organize meetings and invite outsiders for the growth of the startup; use all facilities and benefits (benefits were mentioned in separate point in the current document) provided by the incubator;
9.Incubator s Responsibilities Beeline startup incubator is responsible to: accept applications from startups continuously and inform for which incubation cycle the application will be reviewed; validate accepted applications starting one month before of each incubation cycle; have one to one meetings with potential startups starting 15 days before each incubation cycle for selecting residents; select startups impartially; have office hours for supporting startups, answering their questions and giving advice; cover all expenses for organized events (coffee breaks, invited speakers, etc.) and utility fees of co-working space; provide co-working space to residents free of charge; provide high speed internet in the co-working space; open doors for the residents, students and visitors for 24 hours; inform about upcoming events to the residents and share the info in social media sites and the incubator s website not late then a week before the event; give an access to Beeline Big Data to the residents for their research; find experts, mentors and industry leaders for sharing their experience and knowledge during educational program; organize the Educational program in right manner. 10.Incubator s Rights The incubator has a right to: use residents open information, name and logo in social media sites and the incubator s website; remove the startup from the incubation cycle, if the startup didn t meet the minimum level of the score during monthly meet-ups; remove the startup from the incubation cycle if any of the points from the contract is violated;
not give a permission to non-residents to participate in incubation cycle if they did not meet Incubator s requirements.
Appendix 1. Startup Selection Criteria A. Selection Criteria For becoming a resident, 1st stage of the application procedure is filling out an online application (Appendix 4.). The application will be validated by the incubator staff (Incubator head - Gevorg Poghosyan - and 3 trained assistants). Validation scores will range from 0 to 100. Startups that receives more than 65 points, will pass to the 2nd stage of application procedure - one to one meetings with the incubator staff and invited experts. All invited experts will pass the screening process from local compliance. The incubator is selecting residents for the incubation cycle that meets the following criteria: viable Armenian startups who are going to produce digital products and services which later can be offered to VEON platform users on VEON marketplace; potential to compete and beat the existing competitors, having clear market assessment; motivated and hardworking team, having clarity of roles; founders with practical skills: problem-solving, strategic, open-minded, with organizational abilities and leadership potential; any development stage from idea stage to sustainable business; no age limitation for the team members; a clear and effective solution; financial prospect and potential proof of financial stability; products with the demand in target market; knowledge of English will be an asset; team with minimum of 2 members - teams that have more than 5 members, should choose maximum 5 people to pass through incubation cycle.
B. Advice for Applicants Apply early; Come to the meetings on time; Express yourself clearly get to the point; Write simple and describe it without noisy words; Avoid marketing speak you are not selling the product; Be yourself: show that you are smart, effective and determined; Have a team solo entrepreneur s success is too low; Be nice to the audience; Prove that you can do it, show what you have done before.
Appendix 2. Application process A. Procedure B. Open Call Starting from April 4 online applications will be open for potential resident startups. C. Online application/viability study Potential startups provide brief information about the idea, team and growing strategies. The completed profile helps the experts understand startup s potential and where they are with their startup. D. Validation of the application The incubator s staff (incubator head and assistants) evaluate the given information and select promising applicants. 4.1. If startup s profile is a good fit, the incubator staff will arrange a meeting to present to the team. 4.2. If startup s profile is not good enough, the startup team members can participate in training cycles as students, or open events as one-timevisitor. E. Interviews Selected applicants have to give a brief presentation about their idea and business plan during the interview with Incubator head, trained assistants and invited experts. All invited experts will pass the screening process from local
compliance. Meeting will provide more in depth information about the stage of business development, structure of the management team, market potential, and overall potential for success. F. Onboarding If the startup successfully passed all stages, it s time to join incubation cycle and start to work.
Appendix 3. Educational program A. Notes 2 lessons will be organized for 16 weeks during each 4-month incubation cycle overall 32 lessons in 16 weeks; The last week startups will prepare their pitch decks for the Demo Day; Each lesson will last 2-3 hours, including presentation and Q&A session; Each lesson will be designed separately, not depending on the previous ones; Lesson materials can be distributed. B. Program Week # Lesson # Lesson title Lesson description Week 1 Lesson 1 Lesson 2 Week 2 Lesson 3 Lesson 4 Week 3 Lesson 5 Lesson 6 Introduction to startups and entrepreneurship Conception Innovation and Creativity What is a startup? Startup development stages. Key terminology. How to start a startup? Entrepreneurial mindset. Mission, vision, values. Problem/Solution fit. Success/Failures. Radical to continuous innovation. Business model innovation. The role for creativity in innovation. Innovative and creative startup examples to watch. Week 4 Week 5 Lesson 7 Lesson 8 Lesson 9 Idea Validation Lean startups. Lean canvas. Business model. Validation methods and tools. Hypotheses. Rapid prototyping. Week 5 Lesson 10 Product validation Minimum viable product. Survey your target market. Test your product - beta
Week 6 Lesson 11 Lesson 12 Week 7 Lesson 13 Lesson 14 Week 8 Lesson 15 Lesson 16 Week 9 Lesson 17 Lesson 18 Week 10 Lesson 19 Lesson 20 Market validation Team development Marketing PR Sales testing. Analyzing competitors. Customer discovery. Customer creation. Selecting target market. Creating persona. Beachhead market. Team buildings. Collaboration and teamwork. Hiring system. Identifying positions. Importance of HR. Team and execution. Company culture. How to be a great founder? Marketing/competitors research. Go to market strategy. Importance of branding. Digital marketing. Online/offline advertising. Marketing tools. Digital PR and partnering. Effective communication with the press. Traditional tools to attract attention. Planning your campaign. Importance of social media. How to structure sales? How to use your benefits to your own advantage? Going to YES. Scale your sales team. Collaboration between sales and marketing. Customer engagement.
Inbound and outbound sales strategies. Managing long-term client relationships. Week 11 Week 12 Lesson 21 Lesson 22 Lesson 23 Lesson 24 Project management Traditional project management. Agile management. Introduction to Scrum. Introduction to Kanban. Introduction to Scrumban. Week 13 Lesson 25 Lesson 26 Week 14 Lesson 29 Lesson 30 Week 15 Lesson 31 Lesson 32 Investments Financial plan Pitching and presentation skills How to raise money? Understanding the best source of capital for your startup. Angel investor. Business angels. Venture capitalists. The government. Banks/loans. Bootstrap vs angel vs VC Build a financial model. Value your company. Financial projections for 3 years. Revenue and expenses assumptions. Break Even point for the investors. Investment amount required. Exit strategy. The best startup pitch deck. Public speaking skills always keeping the audience attention. Tips to attract the investor and speak with confidence. Elevator pitching. The pitch canvas. Tools and methodology for
Week 16 Lesson 27 Lesson 28 Legal issues pitching. Importance of intellectual property. What type of company should you register? Legal and accounting basics for startups. Legal privileges.
Appendix 4. Application form General Information: 1. Applicant s full name 2. Contact number 3. Contact email 4. Startup name 5. Startup url (if any) 6. Facebook link (if any) 7. Linkedin link (if any) 8. Youtube channel link (if any) 9. Url for your elevator pitch (if any) 10. Your company team size Information for assessment: 1. Attach your pitch deck (if any) 2. Describe your idea in 3 sentences 3. Name 3 problems that your product/service is solving 4. How that problems are solved without your product/service? 5. List at least 3 benefits for your product/service compared with others 6. Do you have a prototype? (Choose - Yes/No) 7. If yes, url for your prototype (if any) 8. How the work is distributed among your team members? 9. Who is your target market?
10. What are your main weaknesses (list at least 3)? 11. Have you received any investment? (Choose - Yes/No) 12. If yes, how much was the investment? 13. What is the motivation to work on your idea? Additional information: 1. Select your startup development stage (Choose - idea, seed, early, business) 2. Is this your 1 st startup? (Choose - Yes/No) 3. Select your startup industry (education, technology, computer, agriculture, entertainment, food, manufacturing, etc.) 4. Have you participated in any incubator/accelerator program? (Choose - Yes/No) 5. If yes, which program? 6. Is there anything else about your startup that the incubator should know? 7. What the incubator will give to you? 8. Attach your motivation letter - why do you want to be a resident in Beeline incubator? 9. Where have you heard about Beeline Startup Incubator?