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.
AP’s Fast Track Incubation: Winter and Adventure Tourism Businesses - Gilgit Baltistan
Procurement of Services
Accelerate Prosperity (AP) Pakistan is a global initiative of the Aga Khan Development Network to facilitate the creation and growth of high impact high growth potential startups and existing businesses in Central and South Asia. The overall mandate of AP is to promote entrepreneurial mindset with critical thinking and innovative strategies for early stage/pre-revenue startups and Small and Growing Businesses (SGB), which are “commercially viable businesses with a potential to create wealth and jobs” through relevant trainings, knowledge, advice, and capital.
To cater to the fast-growing entrepreneurship ecosystem of Pakistan, AP is seeking service providers to co-design and implement training and advisory services in an output driven and interactive fast track incubation program for existing and growing entrepreneurs. The objective of this program is to provide high growth potential entrepreneurs, especially youth and women the right tools, guidance, and techniques to develop investment worthy businesses.
Scope of Services, Sectors and Geographies
AP is seeking incubation services from independent trainers/ advisors/ institutions for businesses which are associated with Winter and/or Adventure Tourism based in Gilgit Baltistan (GB), Pakistan, specifically in Gilgit, Hunza, and Diamer. (Businesses catering to the area from other locations may also be eligible to apply based on the size of their team on ground).
Consortium applications are encouraged.
- Outreach and Selection
Open call for applications, carry out quality marketing campaigns and scout for quality businesses, relevant to the above-mentioned geographies and sectors. An AP representative will also be part of the selection committee to assist in onboarding businesses most aligned with AP’s vision.
- Fast Track Incubation
Customized, short, and output driven investment readiness program offered to selected entrepreneurs to develop AP’s investment pipeline. This can be an online and offline program using blended learning methodologies to help entrepreneurs develop their Business Model, Information Memorandum, Financial Model and Pitch Deck (subject to availability of quality internet in the selected geographies). Following are some of the expected components of the fast-track incubation program along with their suggested weightages:
- Design Thinking Workshops (20%): Provide customized workshops to help earlier entrepreneurs strengthen their existing solutions and understand core elements of their business, through a design thinking approach.
- Distance Learning and Live Lectures (20%): Provide access to online training modules for distance learning components, where they will be introduced to basic concepts across four themes: i) Business Modelling, ii) Sales and marketing iii) Financial Modelling and iv) Pitch Making (provide courses in person if quality internet is unavailable in the selected geography).
- One on One Advisory Clinics by Trainers/ Business Coaches (40%):Provide access to business coaches/ trainers throughout the program on investment readiness. Trainers/ Business coaches will work with entrepreneurs to apply an investor lens to their business models to help them make their business proposition best fit for their own investment needs/ asks, as well as the expectations of external investors including AP.
- External Advice (20%):Under this component, investors or business mentors will help entrepreneurs understand the current dynamics/ trends of the industry through experience sharing and building the business’s viability by applying investor lens.
*Please note that you can adjust weightages of each component, based on cohort type and geographies, as long as the expected outcomes are being met.
- Final Pitch Session
An online/ offline pitch session will be organized for selected entrepreneurs at the completion of each program. This will give an opportunity to showcase their businesses to AP, and external investors for raising investments.
- Investor Preparation and Generic Due Diligence
Selected businesses at the end of the program may have the opportunity to receive patient financing of up to US$200k with an opportunity to raise 3 times the amount by other institutional investors (subject to AP’s own due diligence process). AP offers three financing tiers: Seed Tier: <$20,000, Tier 1: $20,000<50,000, Tier 2: $50,000<$200,000. The financing deployed depends on the overall need of the business, feasibility, and absorption capacity of the business. Under this component, the businesses throughout the programs will be prepared for potential financing by AP and other individual and institutional investors in the following aspects:
- Documentation preparation of Financing: The service provider will ensure the businesses have their investment tools ready to apply for external financing i.e., Information Memorandum, Financial Model and Pitch Deck.
- Due diligence of 20% selected businesses: Under this component, the selected service provider will also be responsible for vetting and carrying out a light version of commercial due diligence for 20% (around 3) of the cohort’s top businesses to connect with AP for financing.
Business Selection Criteria
Only startups with a Minimum Viable Product (MVP) or early-stage businesses with proven traction will be eligible to apply for the cohorts.
- 1 incubation cohort of up to 15-20 businesses/ startups
- 50 % of the businesses are women led
- 50% of the cohort participants are classified as youth (16-29 years)
- 70 % of the cohort participants complete their Financial Model & Information Memorandum as per AP’s formats for pitch sessions
- At least 20% of businesses are investment ready and eligible to be financed by AP
Key Capacities Required:
- At least 3 years’ experience in designing and implementing business incubation programs, running ideation bootcamps and coaching businesses for investment readiness
- Strong management/project team with area and sector expertise
- Presence and experience in working AP’s core geographies
- Strong network in the startup ecosystem
Scope of Engagement:
The service provider is expected to understand the vision and goals of AP and carry out the design and execution of the project with AP. This will remain an AP led program being implemented with a service provider.
Proposed Time Period for the Project (Design till Execution):
2.5 Months (closing by mid- December 2021)
Only SECP registered companies with a scheduled business bank account and NTN number are eligible to apply.
PKR 3.2 million per cohort
Please submit the following to apply:
- Company Profile with examples of your previous relevant work
- Technical Methodology (not more than 4 pages)
- Implementing Team, Consultant and Advisor Profiles/ CVs (at least 2 sector experts should be onboarded as advisors)
- Financial quote with detailed cost breakdown by each item
24th September 2021, 17:00 PST
Mode of Submitting Applications:
Please submit your application documents compiled in one email with the subject line “Application for Fast Track Incubation- Winter and Adventure Tourism” to the following email address:
email@example.com and CC to firstname.lastname@example.org
If you are applying for more than one geography, please share separate applications for each. If you are applying as a consortium, please provide details for all organizations in the application.
For TOR related queries, please write to us at email@example.com