This Pakistan Business Model Validation Lab is a 5-day accelerator for early/idea-stage – Pakistan-based entrepreneurs that are tackling social and environmental problems. It is designed to help these entrepreneurs rapidly identify and validate the foundational assumptions of their business.
Pakistan is going through something it has never gone through before, an entrepreneurship boom. An unprecedented number of university graduates, combined with a booming economy and a rapid penetration of technology, has placed Pakistan at the cusp of an entrepreneurship boom (the best kind of a boom!). We’re trying to leverage this rapidly growing ecosystem to come up with a new generation of innovative, sustainable, mission-driven entrepreneurs.
Through combining this increasing national entrepreneurship spirit, with the desire to solve society’s biggest challenges, we’re setting a lab with a lasting impact in a country like none other.
Get Involved: Apply to be an entrepreneur, become a mentor, be a sponsor, or help our Lab team find entrepreneurs. Read on to get involved!
The early stages of a startup are marked with questions. Who is my customer? What problems do they have? Do I have a solution to their problems? What are they willing to pay? Will I be able to break even? An entrepreneur’s ability to quickly convert these questions into answers is one of the few characteristics that separates successful startups from failed ones. The problem is that few entrepreneurs know the rapid and systematic approach required to answer these questions. They go too slow, they focus on the wrong things in the wrong order, and they move forward without truly validating a business model.
The Lab & Curriculum
The Business Model Validation Lab is designed to do one thing: provide entrepreneurs with a step-by-step methodology to rapidly and systematically validate their venture’s business model. Entrepreneurs will:
Identify the foundational assumptions that underpin your venture.
Design and run experiments to validate / invalidate the foundational assumptions (through customer discovery and rapid prototyping)
Meet with mentors to get feedback and develop next steps.
The curriculum of the Lab oscillates between in-classroom workshop time and in-market customer interaction time.
Starts with orientation and workshop on assumption mapping in the morning. The afternoon is spent interacting with target customers.
Starts with a workshop in the morning on how to rapidly prototype. In the afternoon entrepreneurs will physically build a prototype.
Starts with a workshop on how to build powerful, long-term relationships with mentors, funders, and partners. In the afternoon, entrepreneurs spend time validating cost assumptions.
Mentor Day Part 1! 10-15 mentors will attend the Lab to work directly with entrepreneurs. The afternoon is dedicated to strategic planning.
Mentor Day Part 2! Entrepreneurs will meet with even more mentors after their reflection the previous day. The afternoon builds momentum and concludes the Lab.
By the end of Lab entrepreneurs will have something to show for their work. They will have:
- Learned a repeatable methodology for how to do customer discovery
- Built 2-3 prototypes of a key element of their venture
- Tested prototypes with real customers
- Learned how to build and maintain mentor relationships
- Met and received feedback from 10-12 world-class mentors
- Conducted a break-even analysis of their business and identified the key cost and financial assumptions of their business
- Built out a basic budget and financial model
- Created a 6-month operating plan
Pakistan Lab will actively involve a diverse set of mentors (We are already engaging with many of them). These mentors will be custom-selected after selecting the Lab ventures to assure mentors meet their needs. Interested in mentoring? Email Samar.
FAQ’s & More About This Program
Application and Selection
- Committed to social and environmental impact with their venture
- Idea-to-early-stage in their venture’s development
- Based in Pakistan
- For-profit or non-profit
- 18 years of age or older
Here’s a bit more on location:
- If I am an entrepreneur from an adjacent to Pakistan. Can I apply for this Lab? If you are outside Pakistan you can still apply. But please know that we will prioritize entrepreneurs from Pakistan. But if you can make a compelling case, we might consider your application.
- My venture’s headquarters are here in Pakistan, but my operations are elsewhere? Can I apply? It depends. The Business Model Validation Lab is designed for ventures to interact directly with their target market during the Lab. For example, during the Lab entrepreneurs will go and do “customer discovery” by interviewing people (in-person) in their target market. If you are unable to do this because your venture’s operations are elsewhere, then the Lab will be less valuable to you. In any case, please feel free to reach out us if you have specific questions about this.
- Who their target customer is
- What, exactly, is the problem their target customer has
- What their product/service offering looks like (they haven’t built a prototype yet or have just begun building prototypes) and if it meets the needs of the target customer
Entrepreneurs are too late if:
- They know (with a very high level of confidence and specificity) who their customer is
- They know (with a very high level of confidence and specificity) what problem their customer has
- They know (with a very high level of confidence and specificity) that their solution solves their customer’s problem
- They have a product/service that is in mainstream production
They have substantial sales
In order to make sure that the fee isn’t a deterrent for brilliant teams. We will automatically consider all applicants for scholarships covering up-to 75% of the program costs.
Do not let the cost prohibit you from applying for the Lab!
The Lab will feature both time in the classroom (learning principles of how to validate your business model) and time in market with your customers where you will be interviewing them and having them interact with your prototypes. There will also be one entire day dedicated to working with mentors. Throughout the course of the Lab, you will have plenty of time to work and rest. Taking time to digest the material is an important piece of acceleration!
Day 1: Day 1 starts with a brief orientation and workshop in the morning, followed by an afternoon interacting with target customers.
Day 2: Day 2 starts with a workshop in the morning on how to rapidly prototype. In the afternoon, entrepreneurs will physically build a prototype and then go out again to meet with target customers.
Day 3: Day 3 starts with more time interacting with target customers before having an afternoon workshop on how to build powerful relationships with mentors, funders, and partners.
Day 4: Day 4 is a mentor day when 10-15 mentors will attend the Lab to work directly with entrepreneurs.
Day 5: Day 5 begins with a workshop in the morning on how to validate the cost assumptions in each venture before spending the afternoon working on strategic planning. Then the Lab concludes.[IP] The Lab will feature both time in the classroom and time dedicated to working with mentors. Throughout the course of the Lab, you will have plenty of time to work and rest. Taking time to digest the material is an important piece of acceleration!
Day 1: Day 1 starts with a brief orientation and workshop in the morning, followed by an afternoon dedicated to building a strategic plan.
Day 2: Day 2 starts with two workshops designed to build the entrepreneurs’ financial skills. During the afternoon entrepreneurs will design a fundraising action plan.
Day 3: Day 3 begins with a workshop on how to build powerful relationships, followed by a pitch workshop. Then entrepreneurs will build a massive list of potential funders.
Day 4: Day four is Capital Adviser day when experts in early stage funding will attend the lab to work directly with the entrepreneurs.
Day 5: Day 5 is spent on deal negotiation, getting important due diligence materials together, and designing an action plan for the next three months.
Be a Supporter
Click here to email Samar to discuss becoming a mentor.
Partners and Supporters
Pipeline Partners are organizations that help us find the entrepreneurs. Like us, they support entrepreneurs doing good in the world. If you want to become a Pipeline Partner for this Lab, please Email Shahrukh.