Now Launching: Applications for Our Fall Cohort!
DEADLINE EXTENDED: OCTOBER 5th
Due to the referendum, we have extended the deadline for applications until Thursday, October 5th. Apply Today!
Five One Labs is pleased to announce that we are launching the applications for our first three-month startup cohort in Erbil, Iraq, which will begin on October 22nd. We are recruiting strong entrepreneurs from diverse communities including refugees, internally displaced people, and locals. If you are passionate about a startup idea and are motivated to make it a reality, this program is right for you!
The application is open here. Applications are due by Sunday, October 1 at 11:59pm.
(As the application is fairly long, we've also uploaded the questions in a PDF here so that you can draft your answers before officially applying online.)
Please read below to learn more about the program, the application process, and whether you are eligible to apply:
Five One Labs is a startup incubator in the Kurdistan Region of Iraq (KRI) that aims to empower entrepreneurs to build successful businesses . Our first incubator program will be held in downtown Erbil, Iraq from October 22 - February 1st.
The Five One Labs incubator is a three-month long program to take your startup business from idea to launch. Over three months, we help you understand your customers, define your value proposition, build out your business and financial model, and build and improve your prototype. Our goal is to help you get your first customers or your first investors by the end of the program.
Five One Labs entrepreneurs are enrolled and welcomed into a community of likeminded entrepreneurs. You will go through intensive business and entrepreneurship training; 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 three-month program, you will have the opportunity to compete for seed funding for your business. At least three startups will receive funding at the end of the program, and we will try to help every business launch successfully.
What Do You Get From Joining Five One Labs?
We want to give you the resources you need to grow your business. This could mean a number of things:
- Practical training to help you learn the fundamentals of starting a business
- A small need-based stipend to cover transportation and food during the program
- A modern, hi-tech office space where you and your team can work
- Connections to the business community, investors, and champions
- Entrepreneurial mentors from the US and from the Middle East who can coach you through the challenges you will face
- Legal support on registering and running a business
- Marketing, design, and technical support as you develop your product or service
- The full support of a world-class team of trainers, advisors, and friends at Five One Labs who will push for you to succeed
- The possibility to participate in pitch competitions throughout the incubator
- Access to social events and an entrepreneurial family to share the experience with!
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.
If you are enrolled full-time school or university that has courses during the week, or if you have a full-time job, you will not be eligible to apply for our incubator. Don’t worry, we will be holding other short-term trainings or bootcamps for you!
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.
In addition, we strongly prefer teams over individuals, as we believe teams will be more successful in overcoming diverse challenges. Note: if you are applying as a team, each team member should submit a separate application. The information about the start up idea can be the same in the applications of team members.
- Are an aspiring entrepreneur with a creative idea for a new business
- Have strong self-motivation and professionalism
- Possess a good level of English speaking and writing skills
- Are willing to work with a diverse group of people in a multicultural environment
- Are able to attend the incubator in Erbil full-time
- Is innovative and has a high chance for success
- Has a scalable model for growth and income-generation
- Is in the idea stage or later (ie, you already have a set plan and strategy, and just need to implement it)
Finally, we are looking for candidates from very diverse communities, including locals, refugees, and internally displaced people in Iraq. If you are not sure you are eligible or have any other questions, please email us at email@example.com and we will respond immediately!
As the application is fairly long, we've created a PDF of the questions so that you can draft your answers before applying online.
Frequently Asked Questions (FAQ):
What is an incubator? An incubator is an organization that helps entrepreneurs start businesses. Incubators help entrepreneurs develop their business and solve problems they might face while launching.
What is an entrepreneur? An entrepreneur is someone who is starting a new business to solve a problem in a creative, innovative way.
What if we are applying as a team? That’s great! Teams which work well together are more resilient and resourceful. We accept teams of up to 4 people. Each member of your team must complete a separate application form (the information about the startup idea can be the same in all applications). In addition, all team members must be able to commit full-time.
What does full-time mean? Our expectation is that aspiring entrepreneurs would work on their startup ideas as if it were their job. That means coming to the co-working space every day of the week, and participating in trainings, conferences, pitch competitions and social events.
What level of English is required? The program will be held entirely in English. This means that you have to be able to converse freely and to feel confident about presenting and pitching your startup idea in front of an audience in English. But don’t worry: there will be special sessions for startup, business and financial terminology as part of the training, and entrepreneurs will be encouraged to work together and help each other.
What if I don’t speak English? Don’t worry, we’ll be running Kurdish and Arabic programming in the Spring and next Fall!
How much does the incubator program cost? The program is free, so there is no cost for entrepreneurs to participate.
What will our schedule be each week? Over the course of 12 weeks, there will be an entire curriculum that will cover topics related to launching a businesses, such as customer discovery, defining your value proposition, building business and financial models, and strategy, among others. There will be two to three training sessions per week at the Five One Labs coworking space in Erbil, along with opportunities to put into practice what you learn and to get feedback from your mentors.
Each week, you’ll also have office hours with our trainer, who will be available to answer any questions you may have about that week’s training or the development of our business. During the rest of the week, you will be in the co-working space putting your new skills to use, or out doing market research or customers with the other start-up teams who will all be developing their business idea.