This is what makes us different!
Our in house media outlets which include Neo Media Network, Lahore Rung, Nai Baat Newspaper and Boom FM106.6. These serve as a platform to highlight the true heroes of Pakistan; Entrepreneurs. To connect them with investors, we have “Idea Croron Ka” which is Pakistan’s First Business Reality Show. This show serves the purpose of bridging the gap between the potential investors and budding entrepreneurs.
To cater the need of our entrepreneurs from developing their product/service to successfully launching it in the market we have an access to 50,000 students from seven professional faculties ranging from health to finance to media to applied sciences. Moreover under this umbrella comes a well equipped research center (Azra Naheed Center for Research and Development) and model labs.
SAFE Instrument Equity Model
SAFE stands for Simple Agreement for Future Equity, and was invented a few years back by Y Combinator (An incubator/accelerator in California, USA) and we (ID92) have brought it for the first time in Pakistan!
The key features that sets the SAFE apart from other models are:
a. It is free of legal complexities
b. It gives the startup the freedom to get their own valuation
c. It rids the startups the initial commitment to pay dividends (this means that they are not under any obligation to pay dividends till the time they don’t raise an investment)
Quick note: the SAFE should not be confused for a debt or a loan.
In other words, SAFE is an easy document that allows the initial risk taker (that is us) to come in an agreement with the startup to get a certain percentage of equity against a discount in the future when it raises an investment.
This means that when the startup completes its incubation cycle, it has the freedom to go around the market and get a valuation that is mutually agreed between them and the investor and then we have the first right to either buy in or liquidate our equity.
This not only gives us the chance to invest in ideas but also gives the startup a chance to prove their worth.
In our case, we take 2.5% equity against a 30% discount on the valuation.
Mentorship Model, Consultancy & Milestone Based Stipends
Mentorship Model: We have a pool of paid mentors on board who will guide our startups on each milestone. The curriculum, objectives and focus of these milestones have been designed by each mentor him/herself. These milestones have the flexibility of adapting themselves according to the need of the cohort. The mentors are also responsible for giving back feedback and monitoring the completion of assigned tasks.
Consultancy: Our in-house consultants make multiple visit throughout the month to closely monitor and guide our startups. These consultants have an extensive experience with entrepreneurs and apply the perfect combination of experience and knowledge to better groom the products/services.
Milestone Based Stipends: To ensure that the startups stay on their feet and that they ‘earn’ their stipends in all fairness, the completion of milestones were made a prerequisite. This motivates the team, the mentors and the startups to all work towards meeting a few standard goals that are absolutely necessary in keeping the momentum going.
International Exchange Programs
D2PAK: Detroit-Punjab Entrepreneurship Exchange Program is a 2 week, fully paid, entrepreneurship exchange program for Pakistani entrepreneurs. Through the exchange you will get to meet industry giants, see how world class organizations progress and receive personalized mentoring sessions. There will also be a week long in bound exchange to Lahore to experience the history, culture, art and the hospitality Pakistan has to offer. Click here for Program details.
University of Oklahoma Professional Fellows Program: This partnership will allow two cohorts of 3 Pakistani entrepreneurs or business professionals to travel to US for a 5-week exchange program. One of the two reciprocal delegations of American entrepreneurs/business educators/ business professionals visit Pakistan between spring 2018 and spring 2019. Click here for Program details.
Hubspot: In the continued effort of Hubspot and District 92 to provide founders with the essential tools for their success, District 92 through their partnership with Hubspot is offering HubSpot’s Marketing and Sales software at a 90% scholarship for the first year – an average savings of $17,000!
AWS activate: Amazon Web Services provides startups with the low cost, easy to use infrastructure needed to scale and grow. The AWS Activate program provides startups with the resources they need to quickly get started on AWS – including credits, training, and support. At ID92 they are eligible to:
- $10,000 in AWS Promotional Credit valid for 2 years
- 1 year of AWS Business Support (up to $5,000).
- 80 credits for Self-Paced Labs($80 value)
Startup huddle: Startup Huddle is a program designed to build and strengthen local entrepreneurship ecosystems – by helping one entrepreneur at a time. Either weekly or monthly, entrepreneurs come together to present their startup to other members of the local ecosystem – revealing challenges and crowd sourcing solutions from audience members.