Applications for Five One Labs' Incubator Are Open
Five One Labs, a startup incubator for refugee and conflict-affected entrepreneurs in the Kurdistan Region of Iraq launched the applications for its first three-month startup cohort in Erbil, Iraq, which will begin on October 22nd and conclude on February 1. Applications are open until October 1.
Earlier this month, Five One Labs announced the launch of its 30-day crowd funding campaign on Indiegogo. The campaign aims to raise $50K to support the launch of its first three-month incubator.
About the Program
The Five One Labs incubator is a three-month long program that takes a startup from the idea stage to the launch stage. Over the three months, startups will receive help in understanding their target market, defining their value proposition, building their business model, and improving their prototype. The end-game is helping the startup find its first customers and investors.
Furthermore, startups will undergo intensive business and entrepreneurship training, they will be linked with mentors in the US and Middle East, and will be provided with business support – including legal, marketing and other support. At the end of the program, startups will compete for a seed funding round out of which three will be selected.
Who is Eligible to Apply?
All Five One Labs entrepreneurs must be committed to focusing full-time on starting their business over the three months (from October through January). The expectations are that the team will come to the co-working space every day of the week and treat this as their job.
Entrepreneurs who are enrolled in school or university that has courses during the week or if they have a full-time job will not be eligible to apply for our incubator.
The program will be held in English, so candidates must have good written and spoken English ability in order to apply. This means being able to converse easily and understand business terms.
The program also prefers teams over individuals, as it believes that teams will be more successful in overcoming diverse challenges. However, each member has to submit a separate application.
Click here to fill in the application – deadline is October 1 at 11:59 PM Iraq time to be considered for the program.