Here’s more information on our Pre-Seed program.
The Sheraa Pre-Seed Program
Taking an idea from months of research work into a fully functional Minimum Viable Product (MVP) requires plenty of focus and support, but also knowledge in specific fields, like identifying different business models in order to determine which one is more effective for a given product. That’s where the Pre-Seed Program comes in.
Many development teams fall into a “build trap”, building feature after feature rather than testing the riskiest assumptions in their products. Are you building a new product or service from scratch and struggling to define your most important assumptions, experiments and your first version? How do you test the value of new feature ideas before actually building them?
Up to 30 startups will be shortlisted by end of September, out of which 20 will be selected to participate in a 3-month long program in October 2018 with mentors from the entrepreneurial ecosystem and Sheraa advisors.
All 20 teams will benefit from 3 months of training and one-on-one support, aimed at getting them ready for the Launch phase.
The program consists of customized lectures and interactive workshops on topics such as project management, rapid prototype testing, financials, pitch rehearsals as well as personal and team strength trainings.
Entrepreneurs will learn to navigate the product cycle, from evaluating user segments over competitor analysis to creating a fully functional MVP. By the end of this program, entrepreneurs will learn to
– create wireframes and basic prototypes in order to test assumptions
– effectively determine key risks and assumptions of customer problems
– identify personal and team communication techniques and strengths
– effectively use project management techniques to minimize costs and maximize time resources
– gain hands-on practice with user story mapping
– apply rapid user testing on your MVP
At the end of the 3-month program, teams will be equipped with an MVP ready to launch together with a Draft Shareholder Agreement and a Legal / Bank Setup.
Once successfully graduated from the Build Phase, up to 7 teams can enter the Launch Phase. To qualify for the Launch program, you need to go through the Sheraa Pre-Seed Build Program – there is no direct entry!
Selected teams are entitled to a $13,000 grant to use during the program. This 6-week Launch program equips teams with Customer Acquisition techniques as well as Digital & Social Media Marketing tools.
By the end of this program, teams learn
– what metrics (OMTM) are relevant for their business model
– gain practice on defining and using your user conversion funnel
– practice how to prioritize your product backlog using metrics-based value
– learn what is the difference between vanity and actionable metrics
– Create product KPIs and link them to your roadmap
– learn how to tie in Measure-Learn into your agile development sprints
– Startups at MVP drafting stage
– Teams should have finished the IdeaLab Online Startup Kit
– Eager to test assumptions and customer interviews on their MVP
– Fluent in English (the program will be in English)
– Able to scale regionally if not globally
The program is open to startups based both inside and outside the UAE. However, accommodation and visa needs to be arranged prior to the program by the teams.APPLY FOR PRE-SEED