Accelerate Prosperity is an initiative of the Aga Khan Development Network (AKDN) in Central and South Asia, with a mandate to create sustainable enterprises by investing in companies that can enable social, environmental and economic growth while delivering good capital returns.
National Tourism Incubator
National Tourism Incubator (NTI) program is the first of its kind national level platform for innovative tourism businesses to come forward, get access to tailored advisory, financing and market linkages through a formalized program. The focus of the program is to explore untapped business opportunities, especially in areas of adventure, winter, and sustainable tourism in Pakistan.
The goals of NTI are:
- Equip entrepreneurs with the required skills and knowledge for launching and growing a business.
- Improve investment readiness of a business by adopting sustainable business models, using tools such as Business Model Canvas, Financial Model, Information Memorandum and Pitch Deck and meeting all legal and compliance requirements.
- Help selected entrepreneurs secure financing from AP and other partner institutions.
WHO IS THIS PROGRAM FOR?
- Entrepreneurs and businesses with innovative business models focused on promoting different forms of tourism including sustainable, eco, winter, and adventure tourism
- Entrepreneurs with investable business ideas or running unique tourism-focused businesses e.g., paragliding, ice-skating, water rafting,
National Tourism Incubator consists of two main components
Business Incubation Services
Select entrepreneurs are offered design thinking workshops and prototype testing, remote training and advisory, business coaching, mentoring, subject matter expertise, access to co-working space(s) and commercial and investor linkages.
Financing Services
Select entrepreneurs will pitch their business to Accelerate Prosperity, other financial institutions, impact investment funds from Pakistan and overseas for securing financing/ investments.
Incubation Services:
- Trainings: Develop and/or improve business model and execution plan and present a case for potential financing and/or investment
- Advisory: Mentorship and technical advisory from successful entrepreneurs, subject matter experts and business coaches
- Research and Data: Access to recent research and data
- Investments: Patient financing, investments and/ or investor linkages that enable the businesses to commercialize and/ or adopt the intended tourism innovation and technology
- Co-Working Space(s): That allows entrepreneurs to use it as their office spaces for 1 year from the time they are selected for incubation and attend all phases of incubation in person or virtually
- Legal Services: Advisory to formalize the business, meet all legal and compliance requirements to be able make their business investment ready
- Intellectual Property: Learn the process of securing IPs to secure new technology and innovation Market Linkages and Commercialization Opportunities: Access to relevant market linkages
Financing Information:
- Instrument: Patient debt
- Interest rate: Net 8%
- Term: up to 10 years
- Ticket size: Up to PKR 30 million
- Other Requirements: Mortgage land or building
The Complete National Tourism Incubator Journey of an Entrepreneur
Step 1:
Submission of Application
Step 2:
Interviews of Shortlisted Applications
Step 3:
Induction into NTI Program
Step 4:
Business Training & Advisory: Online training sessions, One on One and Group Advisory
Step 5:
Pitch for Financing/ Investment
Step 6:
Due Diligence by AP team
Step 7:
Offer of Financing/ Investment
What is our Selection Criteria?
Business Criteria
- A unique and innovative business model with potential for causing or contributing to positive economic and social transformation
- A clear market niche, sound target market and customer base.
- Realistic competitive advantage in terms of price, quality, and easy/ large access
- Little or no revenue and profit models, potential for scalability and growth
- Strong team
- Strong value chain effect
- Impact potential
Personal Criteria
- Strong entrepreneurial traits, including leadership qualities, risk taking, street smartness, ability to do more with less, etc.
- Coachable team, including (but not limited to) openness to advisory, learn, ability and openness to constantly iterate, adapt and evolve based on changing conditions, realities, or assumptions etc.
- Experience in doing business, or as an employee in a similar industry, or subject matter expertise relevant to the product/ service.
