STARTUP PANAMA - INTERNATIONAL 2015
Publicado el 8 de abril de 2015 por Centro de Innovación
The Innovation Center of the City of Knowledge is now accepting international startups through its program opportunity: STARTUP PANAMA - INTERNATIONAL.
OPENED: APRIL 8
CLOSES: JUNE 17 at 8:00pm EST
* Those who apply early will have a significant advantage because we will have more time to review their applications
Welcome to Panama, the global business platform of Latin America
The City of Knowledge, is the biggest, most vibrant and experienced city-sized project dedicated to connect technology, research, academics and entrepreneurship, in one place for the benefit of Panama and the region.
For over fifteen years, the Innovation Center of the City of Knowledge, has fostered an entrepreneurial culture in Panama and is currently providing specialized resources to help startups like yours achieve product-market fit.
What is STARTUP PANAMA - INTERNATIONAL?
World-class startups that a mission to reinvent the world we know today by having a fresh and unique approach to tackle global-scale problems/needs using Panama’s competitive advantages, City of Knowledge international network platform and the Innovation Centers specialized resources.
The only thing better than startups reinventing the world we live in today, is witnessing a team on a mission, making it happen.
If you’re only looking for seed-funding, investors, an office, people to tell you what to do to start, well, you can find that here or anywhere else.
What we do is help founders get their hands dirty on what really matters. The things they ignore the most, the insights that hurt, but that could make the difference between what makes or breaks the startup. We want you to reach problem/solution fit and product/market fit with real customers, from day one, in less than 8 months. Period.
Your team can stay focused on what matters, building something your customer really want. Leave us the rest. We will make the following investments accesible:
- Our most valuable resource: a world-class team of mentors backed and trained by the MIT Venture Mentoring Service will choose your startup to provide experience in the things that matter to your company. They will become your personal phsychologist in the good days but also when things get tough.Seed-funding of up to US$25,000.00 for execution and living expenses for the team (this will be planned and negotiated according to the startup and the team).
2. Seed-funding of up to US$25,000.00 for execution and living expenses for the team (this will be planned and negotiated according to the startup and the team).
3. An office for your team, although we expect you to be more time outside the building with your customers.
4. You will have the Innovation Center of the City of Knowledge backing to gain credibility with your first customers.
5. Potential access to angel investors (Angel investors love founders that can proof the concept and business model with a track record of initial customers)
6. Ultimately, founders do the do, in a flexible way.
What we look for
- If you’re a team of people on a mission
- With at least two founders
- that have the availability and commitment necessary for success
- must have business knowhow and a technical founder (Example: If you’re going to build a revolutionary fitness solution through an app, having a programmer on the team will ease the execution and testing)
We look for startups that are:
- Pursuing problems that haven’t been solved before
- (Or) Making a better solution that makes the “old” one look difficult!
- You must be ready to test your hypotheses with a first functional version of your solution (Functional before perfection)
- 1st Filter: On-line Form
- 2nd Filter: On-line Interviews (1 or more depending on what is needed to understanding of the team and the startup)
1. Founders must be commited to the mission of the startup and what it takes to make it work
2. The City of Knowledge asks for a stake of the company as an exchange of the resources provided. There are two options:
- City of Knowledge ask for 5% of the company (Holding/head of the company)
- A $50,000.00 investment as a convertible note
3. We expect mutual transparency in relation to the team, the startup, the good, the bad and the ugly
4. The 8 months duration of the program begins when the startup is ready to execute and has had its first mentor meeting
5. The Innovation Center of the City of Knowledge reserves the right to select one or more startups to be admitted in the program or even call the applications desert if no startups are admitted
6. The Innovation Center of the City of Knowledge reserves the right to cancel all commitments and resources provided to the startup if the startup doesn’t:
- demonstrate commitment
- behave in ethical manners
- respect the rules, principles, processes established in the program
- demonstrate hard work and and orientation to results and improvement
- respect promises, deals, commitments and expectations
- When applying we expect your team to be very familiar with methodologies and practices such as: lean canvas, customer development, the role of the customer development team, lean startup, minimum viable products, bootstrapping. Surprise us if you know others that can be useful!
1. “How to Start a Startup” – Lectures
2. “How to Build a Startup – Steve Blank (Free Course)
- The Four Steps to Epiphany – Steve Blank
- Why the Lean Startup Changes Everything – Steve Blank HBR Article
- The Lean Startup – Eric Ries
- Positioning - Al Ries & Jack Trout
I don’t know about you but I can see us, working together…as the team.
Now, if you’re… Ready to meet your customers. Prepared to become an expert in the problem at hand. Make a lot of mistakes. Experience the good, the bad and the ugly with people that believe in that thing you do…
Let us know.