Five One Labs Fall Cohort Announcement
In September, we announced that 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,
On October 22nd, nine innovative, early stage startups kicked off the inaugural Five One Labs incubator program. The full-time incubation includes intensive training on lean startup and business skills; mentorship with regional and international experts; and coworking in the Tech Hub in Erbil, sponsored by Zain Telecoms. The program also offers opportunity for networking and community-building, and ends with a competition for three cash prizes of up to $15,000.
Over the past months, Five One Labs has gone through an intensive recruitment process to find motivated entrepreneurs from diverse communities in Iraq. Entrepreneurs were evaluated based on the strength and innovation of their idea, their commitment to launching their businesses, and their desire to work with a diverse and multicultural cohort.
The entrepreneurs that were chosen are young men and women from very different backgrounds and communities, coming from Mosul, Ramadi, Baghdad, Sulaimani and beyond. There are 50% female-led startups and five startups led by entrepreneurs who are currently or have been displaced.
The startup ideas are aimed at solving diverse challenges in Iraq, including education, skills-building for youth, and facilitating communication during conflict. Our entrepreneurs are running healthcare, fashion, technology and virtual reality businesses. They are impressive individuals working under tough circumstances, and Five One Labs is confident they are up to the challenge!