Posted on February 6, 2019
January witnessed the beginning of the third phase of the Agrytech Accelerator where only 9 teams out of the 14 were chosen to continue to the final phase of the program, a 6-month incubation period where they will benefit from up to $22,000 in matching grants. Read about the 9 finalists.
To kick off this third and final phase, the startup teams went through an intensive Scaling Boot Camp to help them develop a compelling growth plan for their solutions. The four-day program was executed by Agrytech’s training partner, the IES – Social Business School with the support of the Agrytech certified team of trainers.
Held in a dynamic and experimental approach, the program started by evaluating the current status of each team and the growth challenges they are currently facing. Through a sequence of work sessions, the program allowed the teams to build a growth plan relative to their startup needs. The program ended with pitch presentations of the growth plan developed throughout the program to a jury composed of Head of Global Sales and Mobile Financial Services at Ericsson Rita Mokbel, Berytech Deputy GM Ramy Boujawdeh and Ahmad Touffaha.
Carlos Azevedo, trainer and president of IES describes what scaling means to these startups, “For a commercial startup, ‘scaling’ usually refers to moving to a new level of company activities and revenues, beyond what was possible during the initial startup phase. Nevertheless, impact and quality are also important for both the entrepreneur’s motivation and the sustainability of the scaling process. Generating additional revenue and profits and increasing the size of the organization might, but do not necessarily have to happen in parallel. Summing up, growth is the end goal and scaling is the process of achieving it.”
A venture is operating ‘at scale’ when it achieves a new level of impact by significantly increasing:
To be able to do this effectively, a venture should:
The terms ‘scaling’ (and ‘at scale’), ‘replication’ and ‘growth’ tend to be used inconsistently and in ways that often overlap. Replication is one approach to scaling and involves copying or reproducing all or portions of an existing business. The aim is not to carbon-copy the business, but to replicate and adapt the business model or key components of it, so that it is responsive to the new target markets and environments. Replication can be driven by the original organization working alone or with partners, or it can be managed by a completely separate entity.
Before starting with the growth process, it is essential to take into account the degree of maturity and the current state of each project. For this purpose, it is essential to reflect deeply on the following points:
Important questions that should be answered before starting the process: