3. 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
5. 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 42
5
6. The accounting firm P 44
Funding Money P 46
Operations P 48
Performance monitoring P 50
Startups leave P 52
Documentation P 54
Communications sustainability P 56
Tools
Tool # 1: Invitation Template P 58
Tool # 3: Executive Summary Scorecard Template P 59
Tool # 5 : 2 Minutes Elevator Pitch Scorecard P 60
Tool # 7 : Business Plan Score Card Template P 61
Tool # 8 : Applicants Interview Scorecard Template P 62
Tool # 9 : Signup Sheet P 63
Tool # 11 : Milestones Template P 65
Websites P 66
6
7. 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
8. 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
9. INJAZ Staff Checklist
5 4 3 2 1
6
Select Review and Receive Invite Start a
Invite those Marketing
Candidates evaluate Application Students
candidates to Campaign
for the applications
submit their
startup
full business
program
plans
7
Check 8 9 10 11 12
business
plans for
completion
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 sectors
9
10. 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
19
24 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
11. 1 Start a Marketing Campaign using
existing database of INJAZ Alums
(Refer to Tool #1, Invitation)
11
29. 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
30. For incubators and investors
1. 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
31. 11 Plan matching event to
match relevant sectors
where incubators are invited
(where candidates are
matched with funders and
incubators)
31
35. 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
37. 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
41. 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
50. 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
51. 21 Through the use of
monitoring tools, INJAZ Staff
monitors the performance
of;
1. Lead Mentor
2. Startup companies
51
57. 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
evaluation
57
59. 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 www.xxxyyyzzz.com to start the application process.
We look forward to receiving your application and wish you success.
INJAZ Team
59
60. Tool # 3: Executive Summary Scorecard Template
Executive Summary Scorecard
Item Name Score Out of Possible
1. Company Logo 10
2. Company Snap Shot
Year Founded 2
Industry 2
Annual Sales 2
Growth Rate 2
Investment Requested 2
Big Problem 10
Unique Solution 10
Market Potential 10
Unique Selling Proposition 10
Management Team 10
Business Model 10
Financial Projections 10
Request 10
TOTAL 100
60
61. Tool # 5 : 2 Minutes Elevator Pitch Scorecard
2 Minute Elevator Pitch Scorecard
Out of a
Item Score Possible
1. What is your product or service? 10
Did he/she briefly describe what they sell without going into excruciating detail.
2. Who is your market? 10
Did 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? 10
More simply, did he/she clearly explain how would they make money?
4. Who is behind the company? 10
Did he/she tell you a little about themselves and their team's background and achievements. If they have a strong advisory board, did
they say who they are and what they have accomplished?
5. Who is your competition? 10
Don't have any? Did he/she say they have NO COMPETITORS? Did he/she briefly discuss who they are and what they have
accomplished. Successful competition is an advantage-they are proof the business model and/or concept work.
6. What is your competitive advantage? 10
Simply being in an industry with successful competitors is not enough. Did he/she effectively communicate how their company is
different 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? 10
Do they have good command of language (Arabic or English or French)? Was their body language appropriate?
8. Were they convincing in their pitch? 10
Would you tell others about their prodcut or service? Did they leave a good lasting impression on you?
9. Did they have passion? 10
Did they get you to believe in him/her?
10. Did the idea make sense to you? 10
11. If you have money, would you invest in them?
TOTAL 100
61
62. 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
63. Tool # 8 : Applicants Interview Scorecard Template
Interview Instructions of Applicants to the Startup Program
1. Invite interviewee to sit
2. Try to calm the interviewee
3. Be friendly
4. 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 experience
5. Some of the questions are subjective rather than objective
6. Use your best judgment
7. Take notes of the answers and give tentative score for each question
8. Ask your self if the answer is convincing
9. Ask your co-interviewer for his/her feedback on every question
10. Ask the questions in the order listed to evaluate the entreprenuer
11. Ask for specific examples proving the entrepreneur answers (for example: a specific example from his/her past experience proving how
he/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 they
only manage to answer but with no specific example
13. For line 21 (persuasiveness), ask for a specific example where the entrepreneur was successful in selling something or an idea to people
14. 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 answer
into a joke)
For the Idea Section
Follow the same pattern
63
64. Tool # 9 : Signup Sheet
Please circle all that applies
Are you:
1. An Incubator.
2. An Angel Investor.
As an incubator, once you sign an incubation agreement with one of the startup
companies at the matching event, you will be agreeing to provide the
following:
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
65. As an incubator you are participating in this program and providing the
abovementioned 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 either
investing in a startup company or providing mentoring a startup company or
bother. 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 reason
you would invest is the fact that you are seeking a high positive ROI.
65
66. Tool # 11 : Milestones Template
Milestones Template
Month:
Milestones Critical tasks To be done by (Date) Achieved (Y/N) Comments
Sales
Product development
Operations
Marketing
Team
Capital raise
Mentorship
Budget tracking Projected Cash Balance Projected total revenue Projected total expenses Achieved (Y/N) Comments
66
