Build a Business

Build a Business

Application Submission for 2017/18 is closed now.

 

BUILD A BUSINESS

Build a Business is customized business incubation services which provides business model trainings, mentoring and required financing to set up a business idea or grow an existing business. It’s a unique approach where a pool of trainers, mentors, subject-matter experts and business coaches consisting of seasoned trainers, entrepreneurs and technical experts, and whose capacities are relevant to types of businesses selected for acceleration services, design and lead the entire process.

Application Submission for 2017/18 is closed now.

STAGES

TIMELINES

All workshops and sessions will be held in Gilgit. Panel of judges, consisting of seasoned entrepreneurs, mentors and experts, will guide and lead the entire process. They will also serve as the judges for initial screening and selection of business ideas throughout the process.
The workshops are highly experiential, mentorship driven programs designed to visually facilitate entrepreneurs through the universal steps required to start and build a viable business. The workshops facilitated by seasoned entrepreneurs, mentors and experts will focus on:

  • Business Idea Audits
  • Entrepreneurial Mindset
  • Developing a Viable Business Model
  • Customer Segmentation
  • Developing an Effective Value Proposition
  • Developing a Viable Business Model
  • Frugal/ Smart Innovation
  • Developing an Information Memorandum
  • Developing a Financial Model
  • Effective Negotiations
  • Regulations & Compliance
  • Standardization & Certifications
  • Pitch Making

ELIGIBILITY

All kinds of business ideas or businesses (new, established, old etc.) can apply for Build a Business services. It’s an open for all, regardless of kind, size, scale, location, stage or age of the business.

SUBMITTING YOUR IDEA

Application Submission for 2017/18 is closed now.

Idea forms are available and can be submitted at www.accelerateprosperity.org.
Idea forms are also available at Local Support Organizations (LSOs), regional, district and area offices of AKDN agencies (AKRSP).
Note: Selected applicants will be notified by email and phone. Only complete idea forms will be considered.

 SCREENING & SELECTION

Initial Screening

  • It will be insured that the business does not deal in (or the business idea is not about) illegal or unethical products and services, or is involved in exploitative practices.
  • It will be insured that the business does not (or the business idea does not intend to) harm the environment substantially.

Assessment Criteria

  • Value Proposition (15% weightage)
  • Uniqueness (10%)
  • Market Niche & Growth Potential (15%)
  • Revenue/ Profitability (15%)
  • Strength of the Team (13%)
  • Founders’ Investment (10%)
  • Co-financing Potential (10%)
  • Employment Generation (8%)
  • Value Chain Effect (6%)
  • Use of Local Resources (4%)
  • Environmentally Sustainable (2%)

All decisions regarding the criteria will be made solely by the judges. Decisions of the judging panel would be final and binding in all respects.

KEY DATES

Application Submission for 2017/18 is closed now.

OTHER TERMS & CONDITIONS

  • All entries must be original and free from any claim of copyright or other restriction relating to the Competition.
  • No individual may be included as a “team member” on more than one business model, and no business may enter more than one business model.
  • No responsibility is assumed and entrants waive all claims for lost, late or misdirected entries, or for any problems of technical malfunction of any telephone or network lines, computer online systems, servers or providers, computer equipment, software, failure of any email or road blockages.
  • Entrants who violate these Official Rules, tamper with the operation of the Contest or engage in any conduct that is detrimental or unfair to Sponsors, the Competition, or any other entrant (in each case as determined in Organizers’ sole discretion) are subject to disqualification from entry into the Competition.

 DISCLAIMER

There is no guarantee, expressed or implied, that any business idea will receive an investment. Should no business idea meet the entry criteria, or have a reasonable chance for success, no investment will be made for that year and any investment money will be used for the following years’ Cup. The odds of winning an investment depend on the skill of the entrants and the number of entries received. All taxes associated with the investment are the sole responsibility of the recipients.

By entering, participants, without limitation, release and hold harmless Organizers, Sponsors, Judges, Coaches, and their respective directors, officers, employees, and agents from any and all liability for any injuries, loss, or damage of any kind in connection with the Competition.