1. What is the required commitment from the startups?
A team of up to 3 Azerbaijani team members willing to commit to the program and be present and active in every session.
2. Will my startup be required to pay any fees or give up any equity by undergoing the Ideation Lab?
No, your startup will not be required to pay any amount of fees or participate in equity sharing for the Ideation Lab.
3. What else does the program provide for participants (e.g., investment, resources, seed fund?)
The program will provide participants with all training and workshop materials in terms of resources. We will also nominate one of the three startups to participate in Young Social Entrepreneurs Incubator Program by Singapore International Foundation.
4. How long is the duration of the program and what will happen after the program?
The program runs for 4 months. Participants will be able to connect to our partners in Malaysia and Singapore as well as have opportunity to gain international exposure and experience through our guidance and nominations.
5. What will the look like for the participants who are attending the Ideation Lab?
Generally, participants will undergo training/coaching sessions and workshops regularly 2 times a week. Participants will also be heavily involved in peer to peer learning as well as action learning to grow and develop their ideas. Throughout the program, participants will be required to submit progress report every month and action plan for next month.
6. Do we need to have an establishment/setup/ventures already before applying for the Ideation Lab?
No, you are not necessarily required to set up a company at this stage. However a strong and clear business plan and objective will be an advantage for your enterprise to be selected for the program.
7. Can we join the Ideation Lab without being in Azerbaijan?
No. Participants are required to be fully committed to the whole duration of the Ideation Lab and attend workshops and mentorship sessions.
Ideation Lab Specific
1. What is the Ideation Lab?
The Ideation Lab is designed for Azerbaijani entrepreneurs to grow and realise their ideas. The program is a 4 months program running from September to December annually. Aspiring/Existing entrepreneurs run through a series of intensive workshops and classes in order to transform ideas into scalable, impactful and structured actions.
2. What is the objective of the Ideation Lab?
The objective of the program is to build capabilities, connections and skills to help local entrepreneurs create communal impact while generating business revenues in order to ultimately become self-sustainable.
3. What are the benefits of participating in the Ideation Lab?
Participants of this program:
- Gain industry insights and expertise to help them plan and build their enterprises.
- Develop key skills from experts to launch and grow their enterprises.
- Build deep relationships with industry experts and influencers to enrich their entrepreneurial journey.
- Well performing startup will have opportunity of being nominated to Singapore International Foundation to be participant of Young Social Entrepreneurs Incubator Program 2017
4. What topics will be covered in the program?
The program includes modern tools and techniques that are essential in startup development and have been used by majority of successful startups. More information can be found in the program curriculum.
5. Will the program include any practical session?
Yes. Participants will practically use crucial tools and techniques to develop their startup ideas throughout the program.
1. We have been working on our startup for a while. Is the Ideation Lab still suitable for us?
As long as you have an early stage product, service or even an idea you are most welcome to submit an application.
2. Can a single founder, submit an application into the Ideation Lab?
Yes! We accept all applications from Azerbaijani teams of up to three members. All applicants must be at 18-25 years of age at time of application.
3. Is it necessary to have a completed business plan to enter an application for the Ideation Lab?
No. Although it is essential to have a clear business plan for the piloted idea as this will be factorized into the selection process of the top 3 startups/ideas that will be shortlisted into the program, you can still apply without having a completed business plan.
4. Is it possible to apply for more than one startup at the same time?
Unfortunately no, an applicant can only represent one entity/submit one application for the Ideation Lab.
5. What type of entrepreneurs is the Ideation Lab looking for?
We generally accept all applications that are looking to pilot a product, service or an idea in its early stages.