Takween

Entrepreneurship News

Takween

By Ashley Barlow

Takween, Iraq’s first startup accelerator, has recently completed its first cohort of participants as part of its Yanhad programme, funded by the European Union and the French Centre for Crisis and Support and implemented in collaboration with Expertise France.

Eileen Brewer, Accelerator Director, explained that the Takween Accelerator runs an intensive 12-week program with select startups and introduces them to ideas, processes, and templates for building successful businesses. The topics covered include; leadership and growth mindset, business finance, product development, marketing, growth hacking and investor readiness. Takween provides access to free legal counsel and software licenses as perks of being in the program, along with direct access to mentors and investors. During the 12-week program the startups commit to a minimum of 7 hours a week of online sessions and meetings, plus completing assignments and implementing changes in their business based on what they are learning. Eileen further highlighted that some of the challenges that face startups in Iraq are the access to key information related to financial management systems, the understanding of customer acquisition costs, pricing margins and the importance of branding. The programme sought to provide comprehensive training in these areas. When asked about the role of Takween in the wider ecosystem, Eileen said that Takween compliments the incubators in Iraq such as The Station, as Takween provides the startups with opportunities to advance their entrepreneurial journey and to help them become investment ready.

The Takween programme also includes international mentors which has helped the startups consider expanding outside of Iraq as well as provide them with global customer expectations. After the final pitch event in December the international mentors and investors were left with a very positive impression of the startups in Iraq.

The startups who completed the 12-week cohort include:

• Dakakenna • FAM Academy • FIX IT • IoT KIDS • Kurdcoin • Mr. Erbil • One Connect • Péleen’s Organic • Rescue Project • Shopyobrand • SmartMed • The Workshop

During the final pitch day, a number of seed funding awards were given to the startups:

IOT Kids and Kurdcoin both received an honourable mention and were awarded $5000 each. SmartMed won 3rd place and was awarded $15,000. Dakakenna won 2nd place and received $23,000. One Connect won 1st place and received $27,000.

The Station would like to congratulate all of the winners, as well as all of the participants, in completing this programme and wish them luck as they move forward.

Takween will be launching its second cohort in March 2021 with applications open now. Startups can apply here: https://apply.takweenaccelerator.com/. The programme will be held online allowing participants to join from across the country. Applicants should have a good understanding of English and outstanding tech skills. For further information please follow:

https://www.facebook.com/takweenacc https://twitter.com/TakweenAcc https://www.instagram.com/takweenacc/