A quarterly journal issued by the The Station Foundation SECOND ISSUE - 2020 THE JOURNALSTATION
Index Entrepreneurship NewsOurCultureTheIntroductionStationNewsNewsStartupsArticles 3 - The $10,000 Award for Female Owned SMEs 5 - Ramadan Meetup 2020 11 - Entrepreneurship after COVID-19 1- Welcome 13 - World Book Day 14 - CultureUp Initiative 15 - Nakhla: Finalist for the Katerva Award 16 - New startup joined The Station lately 17 - How can Online Marketplaces support small projects? 19 - AL-Handal International Group Initiative for Entrepreneurs in Iraq 21 - Science Camp (The Iraqi Maker Space) 23 - Stay Home - Corona in Iraq 24 - Five One Labs Startup Showcase 25 - Startup Weekend - Covid19 28 - The Difference Between Startups and SMEs 30 - Iraqi Innovation Alliance 31 - Startup Response to the COVID-19 Chief Editor & Producer Mohammed Fox Editor Lubna Salam Arabic Proofreader Address Haider Ali Villa 7, St. 38, Dist. 903 Al Wahda, Al Karadah, Baghdad Contact E:T:www.the-station.iqDetails+9647816669999Info@The-Station.iq If you have any requests for articles involving entrepreneurship, please send your request to programs@the-station.iq and we will do our best to include them in our next issue.
Welcome to the second issue of The Station’s newsletter!
Welcome to our second newsletter! We had a great response to our first edition and want to thank you all for taking the time to read and reach out to us.
We hope you enjoy reading!
We’re really excited to share what we’ve been up to over the last few months and to hear about all the exciting things you’ve been doing.
The Station reopened its doors as of 14th June 2020, between the hours of 9 AM and 5 PM. If you’re visiting The Station, please follow the health & safety regulations; sanitize your hands and wear a face mask at all times. We’ve adjusted a walk-through disinfectant booth at our front entrance for your benefit.
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In this second edition, we tell you about some of the online programs we’ve implemented, keep you up to date about our co-working startups and this time, we’ve added a whole section on cultural entrepreneurship! Ramadan Meetups was another success this year, notwithstanding having to host every session online, we were able to reach and engage with our audience. Despite the issues we are all facing today, with the obstacles that feel never-ending, we are and will continue to keep trying to deliver the best services to you.
٢ Beat Corona! Remember to sterilize your hands and keep them away from your face! 2
The $10,000 Award for Female Owned SMEs
By Rasha Al-Bani
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Ashur Bank, Agence Universitaire Francophonie and UNDP Accelerator Lab. The initiative is a competition for Iraqi SMEs owned by women. The main requirement for eligibility is a fully operational business, experiencing a degree of success.
second stage of the competition, which will commence end of June, participants will pitch their projects in front of a panel of experts and 5 will be selected to enter the third and last stage of the competition. During the final stage, startups will re-pitch their project to the same panel where two winners will be announced. The runner up will win a 6-month membership at The Station’s Coworking Space and the finalist will be awarded with a whopping $10,000 award co-sponsored by Zain Iraq and Ashur Bank.
Duringcalculation.the
The competition has three stages. It began with 20 participants entering a set of trainings such as business model validation and finance related skills. As the trainings progressed, a few participants withdrew and by the end of the training program, 16 participants were left. UNDP Accelerator Lab provided the competition with sponsorship in the form of financial training, teaching participants on the specificities of budgeting and revenue
Are you a woman who is working on an exciting project in Iraq? Reach out and tell us about it!
The Station spoke to one of the startups currently participating in the trainings.
Batool Hussein Abdulraheem first founded her initiative in Baghdad, ABCODE, in 2016, where she focused on teaching code to children. She describes her business as the “first company to specifically teach coding to children using a specially tailored American curriculum by code.org”. The curriculum covers a range of areas, such as architecture and 3D designs using an artistic and innovative method to keep children excited and focused throughout. Batool is extremely passionate about helping the younger generation have access to opportunities that she didn’t have growing up. She recognizes that globally, we are moving towards a digitalized world and therefore “we must create a generation of well-educated and well cultured individuals capable of positively serving society as well as Shethemselves”.describes her experience with Raa’idat as an “enriching” experience. “I realized I was making some really fundamental mistakes and adjusted my business model accordingly. I highly thank the trainers for their efforts and patience with us during this journey. They have made this experience not only beneficial but enjoyable too”. We asked Batool if she had any words of inspiration for Iraqi women everywhere. “I encourage all women to not succumb to the societal pressures we face every day in Iraq. Take risks, run after your passion and most importantly be resilient in everything you do. No matter how many times you fail or are told ‘you can’t’, stand up, dust yourself off and try again. You deserve success”.
Ramadan Meetups takes place annually at The Station. We host a variety of discussion sessions which aren’t merely limited to young entrepreneurs and startup owners. We also try and include a variety of communities such as doctors, tech lovers, students, and even children. This year, and due to Covid-19, The Station decided to host the same sessions but through live broadcasts on Facebook, so more people can have the opportunity to tune in. This Ramadan, with our special guests, we discussed some interesting topics such as, tourism, non-fiction books, modern Iraqi filmmaking and its role in rebuilding society, graphic design and visual communication. Ramadan Meetup 2020 first broadcasted on 30th of April and continued twice a week until the end of 21th of May.
Ramadan Meetup 2020
By Fadhil Dhafir
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During this online session, we were pleased to host:
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They were interviewed by Aymen Salam Communications Officer at The
DuringStationthis
online session, we were pleased to host:
7 Zaid Fadhil Founder and CEO of Iraqi Cinema Areej Al-Sultan Producer and director Mohanad Hayal Film director and manager of the cinema department at the Iraqi Film and Theater department Taha Al-Fizaa Brand developer and visual communication designer Amna Akram Graphic designer 3350 Engagement 26366 ImpressionPeoplewatchedfullyit LIVE 300 1071 Engagement 14178 ImpressionPeople watchedfullit LIVE 80 Prof. Rayan Abdullalh Graphic designer and one of the most important designers in the world 4- Graphic Design and Visual Identity: They were interviewed by Mohammed Oudah Co-founder of Tafa3ul Agency 3- Iraqi Filmmaking: They were interviewed by Ali Al Makhzomy Senior Programs Officer for Culture & Art at TheStationDuring this online session, we were pleased to host: During this online session, we were pleased to host:
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During this online session, we were pleased to host:
During this online session, we were pleased to host:
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During pandemic, entrepreneurs have had to face a new reality. Whether a vaccine or a cure will be found for this virus, we are hearing many voices about what the global economy will look like after COVID-19. Bearing this in mind, The Station held a broadcast within the framework of YANHAD’s programme that The Station is implementing with Expertise France. In this live broadcast, our guests were Mr. Dhafir Hasan, Business Innovation and Behavioral Change - Consultant & Trainer; and Mr. Adnan Addioui, a businessman, thinker, and founder of Moroccan CISE. The moderator of this broadcast was Mr. Ammar Al-Khatib, The Executive Director at The Station.
afterEntrepreneurshipCOVID-19
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Starting with the definition of “Entrepreneurship”, Hasan explained the many ways one can be creative in business and how you can add new components and services. He also highlighted that entrepreneurship in itself is risky and that’s what marks the key difference between SMEs and entrepreneurial projects. He then went on to explain how COVID-19 has impacted Startups in Iraq. We have come to the conclusion that startups should use this time to readjust their business accordingly and identify solutions on how to overcome the sudden losses.
By Aymen Salman
https://www.facebook.com/thestationiq/videos/273413730376648/
The world will be different after Corona; we’ve already seen a transition to online activities. Hasan advised all businesses to consider online sales, advertisement and marketing. Some businesses did not stop operating over the last few months and have made good profit, such as web-developers, tech-businesses and online education. One of the main challenges Iraqi entrepreneurs face is the mentality of investors in Iraq and their unwillingness to invest in startups. Hasan explained that whether this will change in the near future will mostly depend on how many successful stories come out once the pandemic comes to an end. If startups can come out of the crisis with minimal loss, this ..will serve as a motivator for investors
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.This time is a great opportunity to do market research
Addioui shed some light on some of the changes taking place at a governmental level. Public Governmental institutions are now emphasizing the importance of distance learning, online payments and online activities in general. This highlights the urgent need to diversify sources of income. In the meantime, he advised that entrepreneurs think about how to launch new services, to see what issues their community currently faces in light of COVID-19 and work on solving them through their projects. This is a great time to consider market research
Tareq A. Shakarchi
Raya Badie
World Book Day
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By Ali Al-Makhzomy
For World Book & Copyright Day on 23rd April, we organized an online session with three of the most successful entrepreneurs working in this field. “Raya Badie”, co-founder of Mr. Book, talked about her experience. This project is one of the first mobile applications in Baghdad. Raya also shared how younger generations utilize her services through the application and e-store. “Tariq Al-Shakarchi”, an Iraqi entrepreneur and the founder of “Levant bookstore”, also shared in selling international books from Japanese Manga and Korean K-pop from the east to American and European books in the west. He also supplies books related to economy, science, and English fiction. Tariq explained that these books are especially popular among young people and how his business caters for their demands. Costumes, posters and gifts are in demand as well especially for TV series and films like "La Casa de Papel”, “Harry Potter” and “Game of Thrones”.
Ali Al-Makhzomy
On the other hand, “Layan Al Qudsi”, founder of “Daraj” bookstore. Daraj is a bookstore which here at The Station we are especially proud of. We have supported them since its launch by providing them with their first branch at our open space. Today, Daraj has five branches in Baghdad and Mosul with a bigger ambition to expand the services to a publishing house. Daraj is known to provide novels, political and social titles from Iraq, MENA region and the world translated into Arabic.
Culture News
Layan Alqudsi
The Cultural Program at The Station is working on a comprehensive art study and designing projects aimed to develop the cultural sector in the country. The Station team is working with artists, curators and cultural entrepreneurs in cooperation with several cultural institutions including the Iraqi Ministry of Culture. This initiative "CultureUp" was launched on April 15th 2020 which is also coincides World Art Day. The aim of this initiative is to positively contribute by changing many measures, redesigning cultural policy, promoting the concept of cultural entrepreneurship, and developing training programs for artists to encourage them to start artistic and cultural startups.
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CultureUp Initiative
By Ali Al-Makhzomy
By Rasha Al-Bani
In April of this year, Nakhla was excitingly nominated as one of Katerva’s “Top 50 Finalists” out of a list of over 1,000 applicants worldwide. The Katerva Award is prominently known as the “Nobel Prize for Sustainability”, bringing together the world’s best innovative solutions for environmental sustainability. They cover 5 main categories: food & water, cities & mobility, energy & environment, health & wellbeing, education and human resources. The program supports projects that could possibly help to realize an increase in global prosperity and human welfare whilst decreasing our destructive influence on the planet. This is an exciting opportunity for Iraqi-based projects working any of the aforementioned fields.
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Big congratulations to Nakhla for reaching the Top 50! The Station Foundation wishes you the best of luck with the remainder of the program.
Nakhla: Finalist for the Katerva Award Our Startups Our Startups
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Architecture, interior design, and fashion
New startups have joined The Station
Do you have a startup and looking for a productive environment?
MK Design Lab
MK Lab aims to add scientific and practical value to different designs by researching and developing design and implementation strategies. In addition to hosting and providing workshops specialized in various designs, implementation processes, techniques and the introduction of new and updated ideas developed by offices of international design studios.
Apply and join us now!
By Hussein Al-Bayati / OpenSooq Iraq
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Small enterprises are the main component of most growing and developed economies, for example; Small businesses are responsible for providing two-thirds of new jobs in the United States, and at least 44% of all US economic activity1 . Iraq is no exception, as all studies indicate the importance of small projects to advance the economic and development reality in the country. There are many challenges facing small enterprises in Iraq, and one of the most prominent of these, is the problem of marketing and customer access. In order to achieve the profits that are sufficient for the continuity of the project, there must be the right channels that guarantee reaching the target audience for that project. This is where Online Marketplaces comes into play in facilitating access to potential customers.
How can Online Marketplaces support small projects?
Online marketplaces are platforms that enable its users to display their products and work to bring potential customers to that platform to gather supply and demand in one place. For example, the OpenSooq website and application provides a smooth and easy-to-use online platform for the seller and buyer, whereby anyone who owns a business can create an account on the OpenSooq within minutes and begins publishing the ads of the goods he wants to promote in order to start the sale directly.
The company invests a lot of effort and resources to convert those looking for various types of goods (cars, bicycles, phones, real estate ... etc) on the Google site to the OpenSooq platform, thus ensuring that users of the platform that their products will appear to those searching for them in the priority of the results of search sites. You can search for "cars for sale", for example, on the Google site, to show the first results that refer to cars on the OpenSooq website. These products are also promoted through multiple channels on social media in a regular and funded way to convert product seekers on those platforms to sellers on the OpenSooq.
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Supporting the brand name for small projects by providing the option to create an electronic store, where you can add the brand and project details, and provide accurate statistics for the number of visitors to the store and their behaviors in terms of contact and promotion of those stores within the search results and other features. In addition to providing Added Value Services for these projects in order to facilitate their access to a larger number of customers, the OpenSooq Company seeks to develop small companies and make them a partner in success.
There are more than 7 million visits to the OpenSooq platform every month in Iraq, and most of the site's visitors are people who intend to buy because the application is dedicated to shopping only, which means that they are confirmed customers, and this number of visits makes the OpenSooq the largest electronic market in Iraq, and even greater than any traditional market In the country.
The mission of OpenSooq consists of 3 pillars
The user’s ease of access to the goods he is searching for through the OpenSooq website and application, by dividing the products into 18 main sections and then into different subsections in addition to the possibility of filtering on the basis of the city and neighborhood, the type of devices, the year of manufacture ... etc., and the ease of communication between the seller and the buyer On the OpenSooq platform by direct contact or private messages via the application or comment.
What we also noticed during the Corona Virus crisis is that the number of visits has increased dramatically, indicating that people have begun to search for alternatives to traditional markets, and here comes the opportunity for small business owners to take advantage of the OpenSooq platform and reach the largest number of customers.
By Fadhil Dhafir
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AL-Handal International Group Initiative for Entrepreneurs in Iraq
On April 21st, 2020, Al-Handal International Group presented an initiative to support entrepreneurs around Iraq. This came after the spread of COVID-19 to Baghdad. Many companies, businesses and startups, etc. Even educational institutions had to shut down after the curfew was implemented through Iraq. The chairman of the Al-Handal International Group, Mr. Wadee Al-Handal announced new loans for entrepreneurs on social media: “AL-Handal Group will continue to support Iraqi youth and to present the AL-Handal International Group Initiative for Entrepreneurs in Iraq.” This initiative involves allocating an amount of up to (5 million dollars) and without interest to support entrepreneurship in the following areas: commercial, technological, industrial, and craft. Additionally, the loan-term is up to a maximum of 5 years and the financing amount reaches a maximum of 50 thousand dollars.
Wadee Al-Handal also emphasized that his group is about to launch other initiatives to finance young entrepreneurs in the coming period to encourage the private sector.
NewsEntrepreneurship
مﻼﺳو نﺎﻣأو ﺔﺒﺤﻣ ﻞﻜﺑ ﻢﻜﻴﻴﺣأ .. ءاﺰﻋﻷا ﻲﺗﺎﻨﺑو ﻲﺋﺎﻨﺑأ ﻰﻟا ﺔﻣزا ﻞﻛ ﺮﻤﺘﺳ .. ﻦﻫاﺮﻟا ﺖﻗﻮﻟا ﻲﻓ ﻊﻤﺟا ﻢﻟﺎﻌﻟاو ﺰﻳﺰﻌﻟا ﺎﻨﺒﻌﺷ ﺎﻬﺑ ﺮﻤﻳ ﻲﺘﻟا بﺎﻌﺼﻟاو تﺎﻣزﻷا ﻞﻛ ﻢﻏر .بﺎﻌﺼﻟاو تﺎﻳﺪﺤﺘﻟا ﺔﻬﺟاﻮﻣ ﻲﻓ ﺔﻴﻘﻴﻘﺤﻟا ﻢﻜﺗﻮﻗ ﺮﻬﻈﺗو صﺮﻔﻟا ﺪﻟﻮﺗ تﺎﻣزﻻا نا ﺮﻛﺬﺘﻧو ﻦﻴﻴﻗاﺮﻌﻟا بﺎﺒﺸﻟا ﻢﻋﺪﺑ ﻲﻋﺎﻤﺠﻟا ﻞﻤﻌﻟاو ﻖﻳﺮﻔﻟا ةﻮﻗ دﻮﻬﺠﺑ ﺮﻤﺘﺴﺘﺳ ﺔﻴﻟوﺪﻟا ﻞﻈﻨﺤﻟا ﺔﻋﻮﻤﺠﻣ ﻚﻟﺬﻟ داوﺮﻟ ﺔﻴﻟوﺪﻟا ﻞﻈﻨﺤﻟا ﺔﻋﻮﻤﺠﻣ) ةردﺎﺒﻣ ﻢﻳﺪﻘﺘﺑو (ﺔﺌﺷﺎﻨﻟا تﺎﻛﺮﺸﻟا بﺎﺤﺻاو لﺎﻤﻋﻷا داور) ﻢﻬﻨﻣ (قاﺮﻌﻟا ﻲﻓ لﺎﻤﻋﻻا ﻦﻴﻋﺪﺒﻤﻟاو ﻦﻳﺮﻜﺘﺒﻤﻟا بﺎﺒﺸﻟا ﻰﻠﻋ ﺎﻫﺮﻴﺛﺄﺗو ﻲﻗاﺮﻌﻟا ﻊﻤﺘﺠﻤﻟا ﻲﻓ دﺪﺠﺘﻣو ﺮﻴﺒﻛ رود لﺎﻤﻋﻻا ةدﺎﻳﺮﻟ ﺚﻴﺣ ﻦﻣ ءﺰﺟ ﻖﻴﻘﺤﺗ ﻲﻓ ﺎﻫرودو (ﺔﻴﻓﺮﺤﻟا ،ﺔﻴﻋﺎﻨﺼﻟا ،ﺔﻴﺟﻮﻠﻨﻜﺘﻟا ،ﺔﻳرﺎﺠﺘﻟا) لﺎﻤﻋﻻا تﻻﺎﺠﻤﻟا ﻒﻠﺘﺨﻣ ﻲﻓ ﺔﻳﺮﺸﺒﻟا دراﻮﻤﻟا ﻞﻴﻐﺸﺘﺑ ﺔﻣاﺪﺘﺴﻤﻟا ﺔﻴﻤﻨﺘﻟا فاﺪﻫا دارﻮﻟ ةﺮﺴﻴﻣ ضوﺮﻗ ﺢﻨﻤﺑ (رﻻود ﻦﻳﻼﻣ ﺔﺴﻤﺧ) ٥,٠٠٠,٠٠٠ هرﺪﻗ ﻎﻠﺒﻣ ﺺﻴﺼﺨﺘﺑ ةردﺎﺒﻤﻟا ﺬﻫ ﻦﻤﻀﺘﺗ .ﺮﻛﺬﺗ ةﺪﺋﺎﻓ نوﺪﺑ ﺔﺌﺷﺎﻨﻟا ﻊﻳرﺎﺸﻤﻟا بﺎﺤﺻاو ﻦﻴﻴﻗاﺮﻌﻟا لﺎﻤﻋﻻا ﻦﻴﻴﻗاﺮﻌﻟا بﺎﺒﺸﻟا ﻊﻳرﺎﺸﻣ ﻞﻳﻮﻤﺘﻟ ىﺮﺧا تﺎﻌﻓد قﻼﻃإ دﺪﺼﺑ ﺎﻬﻧا ﺔﻴﻟوﺪﻟا ﻞﻈﻨﺤﻟا ﺔﻋﻮﻤﺠﻣ ﺪﻛﺆﺗو صﺎﺨﻟا عﺎﻄﻗ ﻲﻓ ﻞﻤﻌﻟا ﻰﻠﻋ بﺎﺒﺸﻟا ﻊﻴﺠﺸﺘﻟ ﺎﻬﻨﻣ ﺎﻴﻌﺳ ﺔﻠﺒﻘﻤﻟا ةﺮﺘﻔﻟا ﻲﻓ ةﺮﻜﺘﺒﻤﻟا لﺎﻤﻋﻻا داورو ﻞﻈﻨﺤﻟا ﻊﻳدو ةرادا ﺲﻠﺠﻣ ﺲﻴﺋر ﺔﻴﻟوﺪﻟا ﻞﻈﻨﺤﻟا ﺔﻋﻮﻤﺠﻣ
founded in 2013 by Nawres Arif in Basra, to recreate an Iraqi society of technological, economic and cultural aspects. The infrastructure and the friendly maker culture has made Science Camp a unique space for innovators and “out of the box thinkers” to share new ideas freely and test it practically. It’s the first and only Iraqi Fab Lab (Fabrication Laboratory) on the global Fab Labs map. Since the first wave of COVID-19 that hit Iraq, the Science Camp team started to think of how to use their makerspace to support the Iraqi health sector by keeping up with the needs of those at the frontline.
1 Fab Lab is a maker space with MIT (Massachusetts Institute of Technology) standards, to provide educational services.
This assistance has come in the form of producing, designing, testing, and distributing more than 10,000 face shields freely for medical staff in Basra and 6 other cities in Iraq. They have also supported locals making more than 17,000 face shields in Tikrit in collaboration with Tikrit University. They have also shared their designs with 6 countries until now. 1 Fab Lab is a maker space with MIT (Massachusetts Institute of Technology) standards, to provide educational services.
Science Camp (The Iraqi Maker Space)
By Aymen Salman
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Startups globally are trying to overcome the economic difficulties they face due to the lockdowns implemented to restrain COVID-19. Despite the pessimistic circumstances, we can find many Startups trying to adapt to the new reality by opening up to new activities or providing new services. One of those projects is Science Camp (The Iraqi Maker Space), which is the Iraqi version of the Global Maker Movement. The maker space is made up of a community of “makers” that provides an optimum environment for tech-innovation and Scienceentrepreneurship.Campwas
Check the link for more https://www.facebook.com/Iraqimakerspace%20Information:20%/
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IIn addition, the team at Science Camp in an attempt to maintain jobs in the local private sector (particularly local water factories), Science Camp has successfully 3D-printed spare parts to be used in the local water factories as a replacement for the imported parts, which are unavailable because of supply chain difficulties due to the COVID-19 crisis. In the meantime, they are reverse engineering those parts and using the maker movement’s digital fabrication & 3D printing.
Science Camp has given everyone a great example of how to adapt to quick changes, and how to turn obstacles into opportunities. With their efforts and ambition, they definitely will play a tremendous role in empowering the youth of Basra.
4) interactive tracking map for the affected people and their geographical distribution, 5) publishing content to raise awareness.
Stay Home - Corona in Iraq
The platform was supported and developed by the UNDP Acceleration Labs initiative in Iraq in cooperation with the Iraqi Media and Communications Authority as an official sponsor. Furthermore, UNICEF Iraq will provide support for developing content in addition to other local partners such as the Iraqi Dental Students Association (IDSA) and Transpi startup - students transportation service.
1) statistics and case numbers, 2) tracking symptoms service
Follow the link to visit the site: https://stayhome.iq
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3) Iraqi hospitals database and important numbers for ambulances and emergencies
Iraqi entrepreneur Mustafa Alwan has voluntarily set up Corona in Iraq, with the aim of supporting the Iraqi government's efforts in acing the pandemic. The platform offers:
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At the end of the event, Five One Labs announced that three startups would receive seed funding. Al-Ruaa for CNC - a company providing services, workshops, maintenance, installation and providing spare parts for the CNC machines, came in first place and won $15,000. For second place, EcoLift - a company providing an alternative power system (potential energy recovery system) to power elevators instead of using electricity was awarded $10,000.
Five One Labs Startup Showcase
And finally, Mosul Solar - a company providing and installing solar cells for houses, was awarded $5000.
On June 17, 2020, Five One Labs hosted online a Startup Showcase to celebrate the graduation of their first-ever Arabic incubator program in Erbil. Over 90 attendees joined the event from Iraq, Germany, USA and other places. Ten of the entrepreneurs gave brief overviews of their businesses and then answered questions from the audience.
Startup Weekend - Covid19
Startup Weekend Iraq team organized an online event on 16th April 2020. Many developers, designers, marketers and students participated with ideas tackling the challenges created by the global pandemic. The participants, who came from across Iraq formed 9 teams providing different solutions. They learned about “Lean Startup” and how to eliminate uncertainty, work smarter, develop an MVP and validate learning. The winner was "Kids Campus" which is an interactive educational application for elementary school students. The idea of the startup is to simplify their curriculum and convert it into an interactive environment. This startup has the opportunity to be selected for “Techstars Innovation Bootcamp” and get a $10000 grant. Ammar Al-Khatib, The Station Foundation’s Executive Director, was one of the judges on the panel. Ammar shared his experience with participants by giving them recommendations on how to further develop their ideas.
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26 Kids CampAtServiceyour Ihsan 1 2 3 ******* 1 2 3 Lv
27 SUCCESS CONSISTS OF GOING FROM FAILURE TO FAILURE WITHOUT LOSS OF ENTHUSIASM! Winston Churchill
By Rasha Al-Bani
Not all businesses are created equal. Startups and SMEs (small and medium sized enterprises) are both created by entrepreneurs, are small in revenue and staffing and are both startups at some point. However, they certainly do share key discernable characteristics. We should be more aware of the companies we are building, so we can better understand the strategies and trajectories we want to take to best achieve our goals. So, how do you know if you’re building a Startup or an SME?
The Difference Between Startups and SMEs
Articles
In short, startups are usually unparalleled business ideas that are potentially scalable and involve high levels of risk. It’s no surprise that 90% of new startups fail every year. SMEs on the other hand encompass businesses that provide your average services, such as hair salons, grocery stores, travel agents and fitness centers etc., and they do not focus on high growth channels, but rather a balanced scale of measure. As evident, they are each following fundamentally distinctive business models with key differences in objective, process and investment pursuits.
Objective
Objective: As maintained by Steve Bank, a startup is “a temporary organization designed to search for a repeatable and scalable business model”. Therefore, a startup is probing for solutions for the merchandise it will sell, the consumer it will benefit and the means in which it will profit from delivering merit to its consumers. The founder of a startup’s objective is to change the world in a specific way. They seek to expand, grow and notably cause rifts in existing markets and possibly generate new markets, resulting in larger margins. However, the objective of owners of SMEs is to be independent and acquire a financially solid position in their local marketplace. SMEs are systemized primarily for net income and create lasting market relevance. They usually sell common merchandise to common consumers.
Investment Pursuits: Startups cannot develop into sizeable businesses without pursuing further capital via shared equity. In other words, distribution of profits amongst investors, resulting in a percentage of lost authority. The very notion of resigning authority overthrows the drive behind an SME owner for independence and profit. Therefore, the pursuit for capital differs between startups and SMEs. Process
Process: The internal setup of a startup has been designed to seek a business model that is replicable and expandable through an undertaking of trials, adjustments when necessary and authentication. Startups would go down one of two paths: a) reach an exit strategy, transform into an actual business and implement the authenticated business model or b) unsuccessfully realize a replicable and expandable business model within the financial limitations of the startup and will pursue a new prospect. An SME begins with an orderly structure that is concentrated on supplying their consumers with merit. It’s not required of an SME to be modified as it is not designed to be modified at a rapid rate.
InvestmentPursuits
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The purpose of IIA is to increase the visibility of ICT entrepreneurship and employment in Iraq, to widen the entrepreneurs’ network and foster mutual capacity building. The alliance seeks to reach untapped areas in Iraq that have lacked access to opportunities and to provide support to young Iraqi job-seekers, especially between the ages of 15 to 35, investors, entrepreneurs and private sector companies. Lastly, it should eventually represent the needs and interests of the ecosystem on a government level, i.e., lobbying for policies that create a business-friendly environment for entrepreneurs.
Iraqi Innovation Alliance
The Iraqi Innovation Alliance is a cross-border, semi-formalized alliance that merges innovation hubs all over Iraq in one national network. It currently has 8 members: The Station, Recoded, FikraSpace, KAPITA, Five One Labs, Mosul Space, Science Camp & Field Ready, with a rotated coordinator every 3 months who is responsible for coordinating the activities of the alliance. The alliance was born out of an organic Iraqi movement with the support of GIZ.
By Rasha Al-Bani
The Station spoke with a representative of the World Bank regarding their potential involvement with the IIA. He specified that the World Bank Group stands ready to support the development of IIA on multiple fronts. The first is to help strategize and establish the IIA as an industry-level association that is inclusive of a superstructure across Iraq. Second, to support an organizational development of the association and build dialogue with the Government of Iraq about law, regulations and policies that conveys messages of the ecosystem. Lastly, to help formalize a digital footprint for the IIA and its development.
Startup Response to the COVID-19
By Aymen Salman
Most of the major players in the Iraqi ecosystem and the private sector admit that the country wasn’t prepared at all to face these significant and severe consequences that have dramatically damaged most Iraqi startups. We interviewed individuals involved in the entrepreneurial ecosystem in Iraq to determine their reaction to the crisis and to ask them about their opinions on the measures put in place to mitigate its economic effect. We spoke to Mohanad Jabbr, the founder of `Nofakha Company’.
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Society and economies worldwide are experiencing an unprecedented external shock. The infection control measures taken in Iraq, as well as worldwide, to slow the spread of COVID-19, have included social distancing, the implementation of curfews and lockdowns, and have exerted a tremendous pressure on large parts of Iraq’s economyespecially the flowering ecosystem.
Mohanad said that they saw the real need for an event and conference organization for Baghdadis; they started with just $300 and are now valued at $300,000 with seven employees. During their journey over the last three years, the team has followed their annual plans and tried to adapt to the Iraqi market that is known for its instability. Nevertheless, COVID-19 has had a huge impact on the ecosystem in Iraq however some start-ups have adapted to meet the challenge. Luckily the team at Nofakha had a plan B; they created a new line where they organized indoor celebrations and events, to celebrate birthdays parties and other events at the customer’s house. “But still, our sales reduced by almost 70%” Mohanad claims.
Human life is unquestionably more important and valuable than the economic status quo, and the measures taken to control the spread of COVID-19 in the world and Iraq are unquestionably important. It threatens the entire ecosystem in Iraq, which has already faced a lot of government neglect, as well as the absence of clear support from the private sector, which in turn multiples the effects of the Corona crisis on startups in Iraq.
Additionally, we interviewed one of the most successful startups in Mosul; Dhay Antiques is a startup which was founded at the beginning of 2018 as a factory for replica antiquities mainly devoted to the production to sculptures and souvenirs inspired by the main figures and statues of Mosul’s heritage, many of which have been destroyed during the war against ISIS. Hussein Tawfiq, the founder of Dhay, said that despite multiple problems that they had faced in Mosul, and the lack of infrastructure, they managed to break even at the end of 2018. Until the COVID-19 crisis, their sales dropped by almost 80%, yet Hussein said that they took this crisis as an opportunity to work on their business model, branding of Dhay, and also on their marketing plan.
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