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General DirectorateIngrid Figueroa Santamaría Editorial CoordinationCarmen Castro BlandónEdgar Lara López Document prepared byP3VenturesMargarita Zaldaña CopyeditingLigia Carmona Mainstreaming GenderCommittee of Ministers for Women of Central America (COMMCA) Design and LayoutClayton Arévalo First Edition: October, 2014 This document is owned by the Regional Center for Promotion of Micro and Small Enterprises (CENPROMYPE) and has been developed in the framework of the Comprehensive Promotion of Entrepreneurship in Central America and Dominican Republic, which has been implemented with the support of the Republic of China (Taiwan). Partial and / or full reproduction is permitted if the source is quoted.
Republic of China (Taiwan)
CONTENTINTRODUCTION 4
BACKGROUND:Why Lean Startup Changes Everything 7
PHASE 0: RAISING AWARENESS 9
PHASE I: IDENTIFICATION 131.1 Call for Consultants 17
1.1.1 Identification and Selection of Institutions to be Invited 19
1.2 Profile of the consultants 20
1.2.1 Preparation and Submission of Invitations and Announcements 22 1.2.2 Selection and Confirmation of 20 Participants 23
1.3 Call for Entrepreneurs 24
1.3.1 Identification of Entrepreneurs 24
1.3.2 Preparation of Invitations and Press Releases 26
1.3.3 Media Plan 261.4 Application and Selection Process of Entrepreneurs for the
Training Program 27
1.5 Results of the Call 29
PHASE II: PREPARATION 332.1 Initial Workshop with experts, public administrators and
consultants 35
2.1.1 Social Contract 36
2.1.2 Organizational Checklist of the Event with Consultants 37
2.1 Participation of the Consultants in the Preparation Process of Entrepreneurs 37
2.2 Commitment Letter of Consultants 38
2.3 Training of Entrepreneurs 38
2.3.1 Logistical Requirements for the Workshops 39
2.3.2 Workshop Content of Phase 1: Customer Discovery 41
2.3.3 Field Activities of Phase 1 30
2.3.4 Workshop Contents of Phase 2: Validation 31
2.3.5 Field Activities of Phase 2 33
Phase III: Evaluation 493.1 Selection to Phase 2 51
3.2 Selection to the Final Evaluation Committee 52
3.3 Clarification of Doubts in the LinkedIn Community 54
4.1 Logistical and Organizational Requirements of the Panels 62
ILLUSTRATIONS INDEXIllustration 1: Phases of the entrepreneurial process according to S. Blank 9
Illustration 2:Circuit of Feedback Create-Measure-Learn (Eric Ries) 10
Illustration 3: Phases 0 and 1 Activities 14
Illustration 4: Results of the Call 29
Illustration 5: Phase 2 Activities 34
Illustration 6: Recommended auditorium layout for the workshops 41
Illustration 7: Activities of Phases 3, 4 and 5 50
Illustration 8: Institutions responsible of Evaluating and selecting 51
TABLES INDEXTable 1:List of confirmed consultants 23
Table 2: Results by country for the Call and Training (Entrepreneurs and Consultants) 30
Table 3: Panel Results by Country 31
Table 4: Description of the Workshop Content of Phase 1 42
Table 5: Contents of the Pitch for the Application Process to the Final Evaluation Committee 53
Table 6: Evaluation Criteria for the Evaluation Committee 59
ATTACHMENTS: SEE CD
Phase IV: Selection 57
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The document that you have in your hands is a Manual of transfer of methodology for implementing the
Entrepreneur Competition Challenge with Lean Canvas Methodology. This contest considers the execution of seed funding in a “zero area” that operates under a focus on Lean Startup and Customer Development, financing activities of client discovery, development and testing of prototypes as well as validating business models.
This manual can be adapted for groups or specific segments, extracting the fundamentals and adjusting to the intended purposes. At the same time, it can be used to extract the main elements of training specialists in entrepreneurship support, as well as the latest support tools for dynamic and high-growth entrepreneurship.
The beneficiaries of this manual are all entities, both public and private, that are intended for implementing a process for seed funding for financial experiments in the early stages.
This manual is the first of three integrated manuals:
1. Implementation of the Entre-preneurial Challenge Compe-tition with Lean Canvas Me-thodology:
INTRODUCTION
Corresponds to the volume that you have in your hands, which describes an organizational process and imple-mentation of a competition for entre-preneurs called “Entrepreneur Cha-llenge.”The detailed content of the activities can be undertaken by any part of the governing body of the ven-ture that wants to develop an initiati-ve of this kind.
2. Start-up Entrepreneurial Ma-nual through the Lean Canvas Methodology:
In which is described a process for facilitating the start-up ventures,with accompanying work that is based on the Lean Canvas methodology and Client Development. This methodology can be use, regardless of whether or not seed capital is incorporated in the process.
3. Workshop Facilitation Methodology for Lean Canvas Training:
This volume describes a process for developing training workshops for entrepreneurs with Lean Canvas methodology and client development, regardless if seed capital is or is not incorporated in the process. These workshops were included in the
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Entrepreneur Challenge competition described in the first volume of the manual.
The first manual is structured around the following chapters, which make up the basis and phases of the Entrepreneur Challenge competition: Antecedentes:
1. Introduction 2. Background: Why Lean Startup Changes Everything? 3. Phase 0: Raising Awareness 4. Phase I: Identification 5. Phase II: Formulation 6. Phase III: Evaluation 7. Phase IV: Selection
The second manual describes the steps to follow after performing the selection process, corresponding to the accompanying subsequent work (the “start-up”, which corresponds to a Phase V process). The third manual specifies the methodology to followfor facilitating workshops, including supplementary bibliography material.
We recommend adapting the steps and activities contained in this and the remaining manuals to the unique characteristics and local context of the entrepreneurial market to where your initiative is directed.
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1. “Effectuation: Elements of Entrepreneurial Expertise” de Saras D. Sarasvathy (Edward Elgar Publishing, 2009). 2. Starting a new business with a business plan, without testing the assumptions with customers, may pose risks, such as
building a product or service without sufficient demand.3. We suggest the following books: “The Art of Innovation: Lessons in Creativity from IDEO, America’s Leading Design Firm”,
Thomas Kelley y Jonathan Littman (Crown Business, 2007); “Creative Confidence: Unleashing the Creative Potential Within Us
BACKGROUND
Why Lean Startup Changes Everything?
The scope of support for the creation of new growing innovative companies, as well as the promotion of entrepreneurial activity in each
of its stages, is of high importance in national and regional development strategies. Its importance lies in the significant impact that it has on economic growth and the creation of new employment.
The support for entrepreneurial activity has a long tradition in many developed countries, with an institutional
framework that includes several tools and support programs. However, there is a path in this policy area. The last decade has already witnessed technologies, experiences, models and approaches that represent a significant turning point.
One of the most significant changes,installed more than a decade ago, is the research about mentality and entrepreneurial behavior called “effectuation”. This approach was led by Saras Sarasvathy ,who has studied the practices that characterize successful entrepreneurs, who direct their goals from the means they have available at the moment, promoting new ventures from the resources, using networking capabilities available to them in a given time, operating in a context of high uncertainty. This logic differs from the traditional approach of cause and effect,according to which the opportunities are external (“are discovered”), and can predict market behavior.The best tool to advance them is the development of business plans .
Then followed a flow of innovation called “Design Thinking,”which contains exponents that have developed diverse methodologies to drive innovative solutions, using an approach based on the observation and the development of solutions through the design and testing of prototypes, as well as using visual tools . This approach is achieved by maximizing the relevance of a new solution to its context of use, rapidly testing a wide range of alternatives, and incorporating multiple sources of interdisciplinary knowledge all at the lowest possible cost.
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With the same force, the development approach emerged in the area of entrepreneurship through clients, and then later the entrepreneurship approach Lean Startup. Both approaches are based on the idea that to launch the entrepreneurial vision of a company or opportunity, one should not wait for the finished formulation of a plan.The proposed method emphasizes the testing of the business hypothesis with real customers, facilitated by the use of early versions of the product (“Minimum Viable Products” or MVP), that allows for customer feedback and generates learning. This way, one can build deals most likely to be welcomed by the market and have commercial traction.
The Lean Startup approach seeks to overcome self-deception and the multiple cognitive biases that fall upon entrepreneurs, who assume that the problem that has been identified is a reality, without having verified it with real clients. One of the principle biases, as noted by Ash Maurya , is that entrepreneurs only use one piece of the business model, that is the solution (the product or service). The work of discovery and validation of one’s initiative should allow oneself to see the different parts of the business model and test each step.
The Lean Startup method recognizes that there are different stages in the development of an enterprise. Before the
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4. “Running Lean”, Ash Maurya (O’Reilly Media, 2012).5. “The Four Steps to the Epiphany”, Steve Blank (K&S Ranch, 2013).
term “Lean” was labeled, Steve Blank had made the distinction between a stage of “client discovery” and a subsequent stage of “client validation” (see the following figure). The first stage is characterized by testing the hypothesis about the needs and clients. The next phase focuses on testing the solution and business model. While the discovery is sought to achieve the setting of the problems and clients, the validation phase is aimed to achieve the fit between the proposed solution and the market for which one is aiming. Only once one has verified the assumptions about the clients, product, and market and business model, one can move forward with less uncertainty in the scaling of the initiative ( “client creation” phase) and in the consolidation of the enterprise (“building the business” phase).
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As verified in the following figure, the process of “validated learning” that Eric Ries suggests consists of multiple iterations with clients, in which the initial concept (the hypothesis or “acts of faith”) results in a tangible prototype (a minimum viable product), that can be tested with real clients, generating data (qualitative and quantitative) that allows for learning and decision making about whether to continue or modify the initial concept of the product or business model (changes are called “pivots” in the jargon used).
ILLUSTRATION 1PHASES OF THE ENTREPRENEURIAL PROCESS ACCORDING TO S. BLANK
CustomerDiscovery
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6. The Lean Startup”, Eric Ries (Crown Business, 2012).
CustomerValidation
CustomerCreation
CompanyBuilding
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Currently there are models of organizations in terms of acceleration, understood as incubation with funding or incubation with seed capital, that apply this philosophy to train entrepreneurs in their support and to guide the delivery of seed capital resources and/or implementation. The best global practice, that fills pages of specialized media and publications, is the accelerator and background discovery of Y Combinator entrepreneurs.
________________________________7. We suggest the following link: http://ycombinator.com/. We also recommend the book “The Launch Pad: Inside Y
Combinator, Silicon’s Valley Most Exclusive School for Startups” de Randall Stross (Portfolio Penguin, 2012).
ILLUSTRATION 2CIRCUIT OF FEEDBACK CREATE-MEASURE-LEARN (ERIC RIES)
APR
ENDE
R
M E DIR
DISEÑAR
IDEAS
DATOS PRODUCTO
LEAR
N
IDEAS DESIGN
DATA
MEASURE
PRODUCT
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Also being noticed, is a growing phenomenon of self-organization and entrepreneurial movement in the line of Lean Startup in several countries of the region (self-demanding and self-taught). Numerous initiatives are emerging and being driven by entrepreneurs, based on leaderships emerging from the private world and not relying on public funding.
They are also increasingly spreading visions of change in the context or environment to support entrepreneurship. There were significantly different institutional forms a decade ago, such as programs like incubators in universities. Importance is also given equally to public support tools – that could be direct actions or incentives – for both supply and demand for business services and entrepreneurship.
More recently the notion of ecosystem has become important, like a “natural” environment to stimulate both innovation and entrepreneurship. The definition of ecosystem has been understood in various ways, for example, for some the ecosystem would be the entrepreneurial community, organized in various ways to lend support through business networks, organization of mentors or informal groups of investors, among others.
A complementary vision adds the community characteristics or open environment to enter into new sources of talent and value, including diversity as an essential characteristic, so that the most innovative ideas for complementary products or cross-fertilization can arise .
A final view gives importance to these factors and self-organizing networks, but also to the existence of some pillars and institutions that give structure to everything. An example of this is the presence of universities or government agencies to provide facilities or some type of support, as well as the presence of financial institutions.
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8. The book “The Rainforest”, written by Victor Hwang & Greg Horowitt, show that the main variables that influence the development of an entrepreneurial ecosystem are social and cultural barriers that impede different agents from an ecosystem to interact.
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The nuances and differences account for the emphasis and roles for the organizations. The most radical advocates of the self-organized entrepreneurial community proclaim that entities like governments and universities must play a secondary role as a contributor, while the role should be assumed by the entrepreneurs themselves .
All of these approximations deliver ideas, standards and guidelines to improve the environment and efforts to promote the development of entrepreneurship available in the countries of the region, from both the public and private sectors.
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9. This is the argument of “Startup Communities” from Brad Feld, the founder of Tech stars Boulder and one of the main leaders in the entrepreneurial community of Boulder in the United States.
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Phase 0Raising Awareness
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EVALUATION IMPLEMENTATION
3 5
PREPARATION SELECTION
2 4
TThe following illustration represents the activities in the first two phases and the reasons why entrepreneurs and consultants should participate.
The phase of raising awareness exists to promote the entrepreneurial theme in all sectors and at all levels, in coordination with the Entrepreneur Ecosystem, clearly spreading the process of support for start-ups, promoting enterprise development tools, promoting the implementation of actions that are involved in the processes of entrepreneurship education aimed at public and private institutions related to the topic, universities, students, workers and entrepreneurs. Creating an entrepreneurial ecosystem optimal for entrepreneur goals that one wants to attract for promoting the entrepreneurial process.
ILLUSTRATION 3PHASES 0 AND 1 ACTIVITIES
IDENTIFICATION
1
RAISING AWARENESS
0
ENTREPRENEUR CONSULTANT
• Participation in awareness• events. • Participation in awareness events.
• Participation in calls events.• Filling postulation form.
• Participation in calls events.• Sing up call.• Participate in interview.• Signing commitment letter.
RAIS
ING
AWAR
ENES
SID
ENTI
FICA
TION
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This is achieved through various types of actions: through meetings, lectures, participation in events and broadcast media. These actions also allow for obtaining sponsorships and endorsements to sustain institutional efforts. Also included within these actions is the influence on government agencies and public policy makers. Generating awareness among the various stakeholders in society, one can incorporate more resources and supports from various social sectors. This prevents the initiatives from being discontinued or from removing the necessary funding.
Raising awareness includes the diffusion of best practices and success stories that can be replicated and that operate a demonstration effect. The diffusion of learning is central, because it avoids duplication of efforts. Moreover, collaboration between different agencies is of prime importance, which can only be achieved under the belief that one obtains benefits to operate collaboratively and that one is working towards achieving goals and a common vision.
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PHASE IIdentification
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0One of the minimum and necessary conditions for the successful process of seed funding is to attract a critical mass of entrepreneurs. The generation of a “deal flow” or a significant flow of prospects, is
a necessary step to be able to count on winning projects.
The market for these types of initiatives is not a market that is already created, but rather this is a market that needs to be formed and nurtured. On the other hand, not all entrepreneurs are equal. There is a wide diversity of entrepreneur segments, with different needs and interests, which are linked to the various types of organizations.
Needless to say, the call for entrepreneurs should be directed to a number of important people who are not considered “entrepreneurial”. This should include many people with companies created, like people with the motivation for undertakingchallenges and that have some initial idea. The minimum requisites should be to have a business idea, even without having taken steps in its implementation. Thus opens up the opportunity to work with people from various professions and productive areas, who enter the program with an outlined idea andcan develop the idea during the training programand validation activities.
According to the definition of GEM, it is understood for early-stage entrepreneurs who have an idea, as well as for those who have started a business or sales, with no more than 36 months of operation .
First, one should develop a call for the training program for consultants, teachers and/or specialist, which is described below:
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10. Global Entrepreneurship Monitor: 2012 Global Report”, Siri Roland Xavier et al (2013).
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________________________________
11. The invitation form is attached.
1.1.1 Identification and Selection de Institutions to InviteInstitutions and organizations: government agencies that develop support programs for entrepreneurs and small businesses or PYME (in the economic and productive development areas, training and education); units of entrepreneurship in universities; business incubators; ONGs that support entrepreneurs and/or PYMES; institutions that are focused on the entrepreneur segment or are planning to do so.
Specialists, government officials and candidates for consultants: one should sum on executives and managers of organizations that are engaged in the design or the implementation of the initiatives that provide services or resources (financial and non-financial) to entrepreneurs. One should include managers, to those who implement the projects and have direct contact with the entrepreneurs. Entrepreneurs who serve as outstanding business persons, who
are motivated with entrepreneurship and could carry out mentoring roles, tutors, counselors or members of supervisory boards of enterprises. Leaders and committed people, willing to mobilize changes, to generate alliances and to cooperate in the diffusion of the program. Furthermore, those who possess interest and availability to participate in the process of training entrepreneurs, assisting them in various activities (see the profile suggested below).
Given these profiles, the next step should be to draw up a list of people and institutions that meet the above profile, a database that allows sending an invitation in which the desired characteristics of the profile and training objectives are established.
It is of high importance to identify the institutions that best meet the profile, as well as with which ones had greater affinity. con las que se tenga mayor afinidad.
CALL FOR CONSULTANTS
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Prior to substantiating the process developed, it is important to understand the profile of consultants looked for to perform the work to support entrepreneurs. Among the personal competencies that one should look for on those selected for the training process, are the following:
• To be autonomous and proactive, tolerant of ambiguity and decision making under uncertainty. Understand that the entrepreneur requires immediate responses and that he operates with another rate compared to established organizations. Understand that to support entrepreneurs, one has to act in an entrepreneurial manner.
• To be flexible, aware of the need to adjust strategies and choose the tools and courses of action appropriate to the circumstances.
• To be proactive and creative in the search for new alternative solutions to problems, proposing alternatives to the extent they arise
• Must have a strong internal locus of control, is to say, do not look for responsibilities in the environment, but rather be aware that one is a driver of change, taking responsibility for oneself decisions.
• Understand the limits of your knowledge and capabilities, being able to ask for help and seek the support of other talents when needed. Therefore, one is able to admit oneself mistakes.decisiones.
Profile of the consultants
• One must converge a strategic approach, with the attention to detail in meeting the immediate tasks. One is able to look at the macro horizon of business.
• Respect the dreamers and to those who have great visions. One encourages them to keep dreaming and never is going to say “it is impossible.” However, understand that translating a vision into a reality is an arduous journey that requires constant changes and adjustments in strategy. Ultimately, understand that the adaptation to reality may dictate that the way forward is another way imagined in the beginning and that the path to find the right business model is one of continuous trial and error.
• Advise, propose and guide, but always respecting the autonomy of the entrepreneur, who is the ultimate decision maker on his or her initiative.
• Ability to communicate and persuade, to construct narratives to convene and mobilize others. Understand that the successful entrepreneur, one must continually work on his or her initiatives.
• Ability to deal with adverse emotional states and to transmit emotions that commensurate to the challenges. This involves having resilience, the ability to overcome adversity.
• Be aware of the value of building relationships at different values and expand one’s networks of contacts. Understand that a venture is built with allies, partners and external partners and that it is an important part of one’s’ entrepreneurial efforts to seek external support.
• Honest and transparent in interpersonal relationships, willing to
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receive honest feedback and modifies oneself behavior accordingly. Also, be capable of providing harsh judgments when these changes are necessary to mobilize. Have qualities of a coach that help motivate and channel the efforts of an entrepreneurial team, even after having faced losses or setbacks.
• Willingness to learn, be able to expose oneself to new situations that take one away from his or her comfort zone (where one is not an expert and is exposed to error). Similarly, to take on trial and error and learning as a natural part of the journey.
• Therefore, analyze the opening, so it is in favor of exploring the market and present the idea to clients or potential allies, without fear to limit or copy it, because one understands that ideas are realized only in the execution of committed teams (which is not easy to replicate).
• Be cooperative, willing to contribute one’s knowledge, experience and networks for those in need, without seeking immediate compensation. One’s commitment to supporting entrepreneurs leads to assuming some personal sacrifices to help in emergencies or with important milestones.
• In the negotiations and exchanges look for that all participants win and are benefited. Do not seek an unfair advantage nor from the premise that the gain comes at the expense of the loss of the counterparty (such as a zero-sum game). Understand the value of the reputation look to build long-term relationships, as preventing these will be adversely affected by opportunistic attitudes derived from the search for immediate gains.
• Commit to the cause of entrepreneurs and with the generation of conditions more favorable for the entrepreneurs in one’s country and conditions.
• Finally, be an ethical person, do not trade one’s values nor the means to choose. One is not going to support business initiatives that are sustained by unethical practices nor that generate harm to the community.
In this manner, the first condition to participate is to have some, most or all of the above mentioned skills. While recognizing that the person does not necessarily have all these qualities in a given time, one should at least understand the value and be committed to developing them as part of the training program.
The training program should be based on the development of integral consultants, who follow a path that leads them to develop these skills in theory and practice, assimilating the contents of the initial workshops and through the development of activities to assist entrepreneurs, which must be developed through work as a catalyst for program activities, to support entrepreneurs, that should be performed as a complement to the initial training workshops.
The training program should be based on the development of integral consultants, who follow a path that leads them to develop these skills in theory and practice, assimilating the contents of the initial workshops and through the development of activities to assist entrepreneurs, which must be developed through work as a catalyst for program activities, to support entrepreneurs, that should be performed as a complement to the initial training workshops.
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executive or manager roles of entrepreneurs, or providing various kinds of advice.
There should not be a requirement that they should have a particular expertise, although it is recommended that one has experience in areas such as project management, finance, marketing, business strategy, etc.
1.2.1 Preparation and Submission of Invitations and AnnouncementsAfter finishing the list, one prepares the invitations and announcements to be sent.
In the case of institutions that have greater affinity, it is necessary to have a meeting orto call that person to whom the invitation is made, then send the email with the announcement. Thus, it seeks to gain a greater understanding of the project, better cooperation and one is able to send all the basic information. For the non-priority institutions, the call or visit is option, but sending the email is essential.
The announcement must be sent once one has the list of institutions sorted. If one has not confirmed the date and time of the event, one will have to mention that these are confirmed and that soon they will send the definitive information.
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NAME POSITION INSTITUTION EMAIL PHONE
1.2.2 Selection and Confirmation of ParticipantsOnce the announcement is sent, one should prepare a list with the confirmed people. For this, one must complete the following list with their names and information:
One week before the date of the activity, one should write and call back the people listed, ensuring their participation. To start the process – including workshops, follow-up activities, adjusting the plan for seed capital and monitoring its execution– one should achieve a minimum participation of 30 people, in a necessary manner to confirm at least 60 people. However, the ideal number of consultants should be a number that allows sufficient attention for a ratio of 4-5 entrepreneurial team members to every 1 consultant, at the start of the activities. When the number of confirmed participants exceeds the minimum number, a selection is made from those confirmed that will best meet the desired profile. This selection committee will be defined to be in charge of evaluating each of the prospects on the following criteria: work experience with entrepreneurs; personal motivation; time availability to implement the methodology; interest in applying the methodology to the future. The people who participate in the committee should declare that they are free of conflicts of interest in relation to the projects and applicants’ institutions.
Prior to the confirmation, one should ask the invited consultants who express interest with a letter of interest regarding their willingness to participate. One should also request that they attach a resume, thus allowing to build a file. By way of verifying their motivation, one will request to participate in an interview with the team organizerto confirm their interest and if they meet the profile.
The notification to the entrepreneurs, once confirmed that they respond to the profile, should include the relevant information about the place and completion date of the workshops.
TABLE 1LIST OF CONFIRMED CONSULTANTS
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CALL FOR ENTREPRENEURS
The following describes each of the steps involved in the approach to be used in the call to the invited entrepreneurs to participate in the process. The call should have a strong character, while it can be aimed at different segments of entrepreneurs, for which one can utilize multiple medias and deliver support to entities belonging to the organizing entity.
1.3.1 Identification of EntrepreneursThe process of acquisition includes, firstly, a definition of the participants’ profiles. The following profile of participants are suggested, including the recipients who are described below:
• Potential entrepreneurs: The people and teams that have the business ideas and have the motivation to undertake full time, but have not yet advanced to the phase of marketing the product or solution.
• New businesses: With no more than 36 months or 3 years of existence (from the first sale) .
• For potential entrepreneurs, like for companies, one should look for mixed teams, that is, they have at least one female member. This is done by following the guidelines suggested by the BID in the mainstreaming of the gender perspective in the design, implementation and evaluation of programs, thereby contributing to increase the social inclusion of women.
• The entrepreneurial team with more than 18 years of age.
• Ideas from all the economic sectors except for: commerce and marketing of no value added agricultural or innovative component.
A number of criteria should be taken into consideration for the design of the Media Plan and
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12. This is the number of months that it takes to a firm, as an average, to surpass the so-called “valley of death”, the time period were the initial sources of funding are not available and were the company is still not sustainable.
13. This document is attached.
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to outline the selection of participants from the applications. These criteria should be agreed upon by the local organization of the process, in conjunction with other representatives of the local entrepreneurial ecosystem and with the consultants in the process. The agreement on these criteria, as well as the profile of the different segments of guests, must be achieved from a work segmentation of entrepreneurs during a workshop with consultants and specialists.
From this work, it is suggested to consider the following criteria in the design of the Media Plan and in the process of selecting the participants:
• There should not be a requirement of belonging to particular productive sectors. However, calls must avoid a communication focus on micro or small initiatives in areas such as subsistence agriculture or commerce and tourism, which do not add value nor have the potential for rapid growth.
• The exception within these items are those initiatives with elements of differentiation, innovation (in products, services, distribution or revenue models) and the use of technologies that add value.
• It is suggested to favorably evaluate the initiatives that have identifies an opportunity and that are based on necessities demonstrated by the market.
• Also, it is recommended to positively evaluate the initiatives that take advantage of the capabilities and experience of one or more members of the entrepreneurial team.
• It is suggested to not require business plans, nor that there is a requirement for the volume of sales, but rather it is recommended to favor the team that has evidence that the solution has been well received by potential clients.
• Also, it is recommended to positively evaluate the female participation on the teams.
• Finally, it is suggested to positively evaluate the initiatives that provide access to the solution for traditionally underserved markets.
The building of profiles and segments of entrepreneurs require validation of work by those involved. This implies guiding the implementation fieldwork activities by consultants, specialists and leaders of the organization, to validate assumptions about the needs and context of each segment of entrepreneurs. By already having a profile of participants and minimum selection criteria, one must elaborate on the content of the invitations and media messages.
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1.3.2 Preparation of Invitations and Press ReleasesTo prepare the invitations and announcements, it is very important that everyone involved understands that the event has to be disseminated through different media: social networks, emails, ads on websites and posters, among others. By this manner, the announcementand graphic design will vary according to the medium, but not the message conveyed.
All invitations sent through email or uploaded in a website should include the link of the enrollment form.
1.3.3 Media PlanFinally, the call requires a media plan, to be designed and implemented in collaboration with local partners and the local ecosystem, coordinating the diffusion with them. For the support of allied institutions, one must submit a series of recommendations on how to proceed, emphasizing meetings (groups and individuals) that allow selling the project and gaining support from other entities.It will be necessary to define through which pages, which networks, what time and in what way to communicate. For this, quick and clear communication is recommended, preventing the delivery of messages with long text. It is suggested to look for a concept or idea that helps to anchor the whole message in one sentence, then inviting one to seek more information on the website.
The diffusion is recommended to be done in person, giving a talk or an invitation in person. For this, one should research possible related events, universities, courses or institutions that could be interested in supporting the diffusion of the program. Since these interested parties have web pages, it is necessary to talk with them to gain their support in the diffusion
In the case of mass media, it is recommended to use the following:
• Social Media: Use of the platforms of Twitter, LinkedIn and Facebook, which were available to the organization and allied process. It is recommended to prepare the graphic pieces that have the information of the invitations
• Internet: Publications on news portals and business activity, entrepreneurs and ONGs of product development. Publications on university sites,
________________________________14. This example considers different marketing efforts, which is the case when a program is direct to several segments of
customers, or different regions or territorial subdivisions.
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entrepreneurship centers, official websites of the industry and education.
• Radio and television: It is recommended to create an entertaining and humorous concept, where entrepreneurs are invited to participate and seek more information on the website.
• Newspapers and print media: It is suggested to make a press release for print media, news agencies and traditional media, for which it is recommended to rely on the ones in charge of communications and government ministries.
Depending on the resources available for these actions, it is recommended to prioritize the media and the diffusion actions to reach a large number of entrepreneurs of the segment searched. Finally, it is suggested to design a Gantt diagram where it is easy to visualize the pattern in media, guaranteeing that the desired media is covered at the corresponding time.
The process of application and selection should be inspired by the principles of a fair and transparent process, in which all the information concerning the application process, deadlines and selection criteria are explicit and available to anyone who asks. To do this, one must consider the following considerations:
• Delivery of information, instructions and examples of completed information for the participants.
• Guide the application, the inquiries by email or the telephone responses.
• If possible, do a briefing or informative talk on a schedule that suits the potential interested parties.
The call for entrepreneurs should be open between 4 and 5 weeks. The interested entrepreneurs must enroll in a platform application through Google Drive or another medium
APPLICATION AND SELECTION PROCESS OF ENTREPRENEURS
FOR THE TRAINING PROGRAM
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________________________________
15. It is included as an attached document.
platform ad hoc . This form must briefly present The revision of the applicants involve discarding those that do not correspond to the desired profile. Moreover, if the number of applicants exceeds the objectives, attendees to the workshops will be selected based on the potential and ambition of the proposed idea.
The selection must be made on a shared basis by members of all entities involved in the management of the program. It is suggested to have at least two evaluators for this selection.
In the revision and selection of applicants (after eliminatingthose who do not meet the desired profile), the criteria that should be used to select the entrepreneurial team attendees, when these exceed the target participants they are the following (each of which must be assigned a score from 1 to 3):
• Priority will be given to teams over individual entrepreneurs (even when one cannot distinguish between teams that have different numbers of members).
• One should positively assess the clarity of the presentation of the business idea (clarity in the presentation of the problem and in the potential market described).
• One should positively evaluate the qualities and experience of the proponents.
• One should positively evaluate the participation of women on the entrepreneurial team.
From this evaluation, one should develop a ranking of theapplicants according to the score they obtained. One should automatically accept a number of participants that total 80% of the target of initiatives to invite, who will make up the first list of those accepted. The remaining 20%, plus an equivalent number of projects outside the boundary, must be reviewed again to develop a new
15 ranking and create a wating list.
For the eliminated projects that do not fit the profile and that did not join the acceptance list nor waiting list, a thank you email will be sent that will recom mend them to reapply in the future.
Finally, an acceptance email will be sent to all members on the accetance list, requesting a response or confirmation of participation by a specfic deadline. Based on the number of confirmations, the final number will be completed by using the applicants on the waiting list.
29
The following figure presents an example of the principle numbers of a call type and each of the work phases, until the allocation of seed capital. It is a program of the Central American region, implemented in 6 countries .
In this call example, the diffusion efforts allowed one to obtain 2,255 applicants in all of the countries. Out of the total applicants, the final count was with the participation of 1,203 entrepreneurs (corresponding to 748 projects) for the first work phase (33.2% of the postulated projects). For 137 projects, seed capital will be assigned (18.3% of the projects in phase 1 and 6.1% of the applicants).
RESULTS OF THE CALL
________________________________
16. This example requires parallel diffusion efforts, which may be the case for a Program that addresses various segments of entrepreneurs or a Program covering different places or territories.
17. The data presented in the example corresponds to the 2013 Entrepreneurial Challenge driven by CENPROMYPE and the institutions of MSME promotion in the SICA Region.
Source: CENPROMYPE, 2013
ILLUSTRATION 4RESULTS OF THE CALL
FASE 1:COSTUMERDISCOVEY
FASE 2:COSTUMER VALIDATION
EVALUATIONCOMMITTEE
CALL SEED CAPITALFUNDING
2.255POSTULATIONS
1.203PROJECTS
571PROJECTS
261PROJECTS
137PROJECTS
16
17
30
It should be highlighted that many of the applicants do not meet the desired profile, therefore the number of applicants is not equivalent to the number of participants in the first work phase. In the same manner, it is suggested to implement a selection process to advance to phase 2 of the training, guaranteeing that only those who meet the profile can advance in the work process.
As shown in the following figure, the countries that are in this call that have the highest number of applicants are Guatemala (626 projects) and Dominican Republic (485 applicants).
The same selective process must operate for the training process of consultants. The quality requirements of the process must involve the elimination of those who do not comply with the working hours required deliverables.
Regarding consultants, in this example there are 217 that participated in the first phase of training in 6 countries. This number is reduced to 175 in Phase 2.
COUNTRIES PROJECTSSUBMITTED
FIRST ROUNDPROJECTS
FIRST ROUNDCONSULTANTS
SECOND ROUND PROJECTS
SECOND ROUND CONSULTANTS
# W # M # W # M # W # M # W # M
Belize 188 60 30 7 3 29 19 5 3Guatemala 626 45 85 22 20 37 63 16 10El Salvador 444 76 58 13 16 34 31 10 14Honduras 158 44 31 7 3 23 18 4 3Panama 354 74 59 21 12 68 53 16 9Dominican Republic 485 74 112 46 47 42 65 40 45
PARCIAL 373 375 116 101 233 249 91 84
TOTAL 2.255 748 217 482 175
TABLE 2RESULTS BY COUNTRY FOR THE CALL AND TRAINING (ENTREPRENEURS AND CONSULTANTS)
Source: CENPROMYPE, 2013
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Finally, and as shown in the following table, it is suggested to consi-der that the final number of projects are able to apply for the seed capital and should be much lower than the number of applicants and of those called to participate in the first instance of training. In this case, the 174 projects that received funding correspond to 6.1% of the applicants. In any scenario, a selective process should consider not allocating funding to a number greater than 10% of applicants, considering that the main accelerators of global enter-prises are even more selective, they usually do not select more than 3% of applicants.
COUNTRIES PROJECTS ATCOMMITEE
SEED CAPITAL FUNDING
# W # M
Belize 43 11 7Guatemala 70 14 21El Salvador 79 15 20Honduras 26 6 10Panama 52 19 16Dominican Republic 72 9 26
PARCIAL 74 100
TOTAL 342 174
TABLE 3PANEL RESULTS BY COUNTRY
Source: CENPROMYPE, 2013
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PHASE IIPreparation
34
The following illustration presents the activities in Phase 2 of Development, from the point of view of the entrepreneur and consultant participants.
The preparation of the proposals should be preceded by a training program for consultants and specialists, and a training program for entrepreneurs. These activities are embedded in the development of the project, since they allow one to implement the methodology and progress in the development of projects to a state in which the activities in the work plans are aligned with the objectives of the fund.
The preparation of consultants and specialists should be developed at two different levels:
The first involves updating and adapting to the context of the best practices in entrepreneurial support especially at the level of actions and public policies, all this for specialists and the authorities in the countries that worked in creating policies to support entrepreneurship.
ILLUSTRATION 5PHASE 2 ACTIVITIES
EVALUATION IMPLEMENTATIONS
3 5
SELECTION
4
PREPARATION
2IDENTIFICATION
1
RAISING AWARENESS
0
ENTREPRENEUR CONSULTANT
• Participation in the first round of workshops (Discovery)
• First fieldwork• Build video fitch• Participation in the second round
of workhops (Validation)• Second round of workshops
• Participation in workshops for consultants• Accompany entrepreneurs in the first
round• Accompany entrepreneurs in the second
round• Accompany entrepreneurs in the fieldwork
PREP
ARAT
ION
1.
35
2. The second involves theoretical and practical training to provide technical assistance to entrepreneurs executives in public and private agencies or for independent consultants that develo-ped their work in entrepreneurial pro-grams, giving attention to individual entrepreneurs or to the development of new businesses in established com-panies, mainly micro, small and me-dium enterprises.
The first level of work should achieve by conducting an initial workshop with consultants and specialists. The second level is developed in parallel with the process of entrepreneurs.
The preparation of consultants first and of entrepreneurs after is meant that the first ones support and accompany the preparation process of entrepreneurs.
In this manner, there is a preparation that considers the participation of the consul-tant in:
1. Lecture work, study and reflection of the materials related to the specific to-pics entrepreneurship support, as well as topics related to each of the wor-kshops. One will deliver introductory lectures on the topics to be developed in working with entrepreneurs. The-se lectures include articles and book chapters in areas such as: Lean Startup method, design of business models, effective presentations and design thinking.
2. Participation as observers and specific roles in group work with entrepreneu-rs. The latter because it must generate action learning, allowing the instru-mental preparation of entrepreneurs that can later be replicated by the ex-perts in their routine support work.
This workshop should be done prior to any work with entrepreneurs, only with experts, public administrators and consultants in order to align the efforts of all institutions participating in the program and to achieve a consensual understanding of the scope of the project.
The workshop should primarily have 3 topics. The following describes the purpose of each one:
INITIAL WORKSHOP WITH EXPERTS, PUBLIC ADMINISTRATORS AND CONSULTANTS
36
1. Ecosystem Workshop: Acquisition of concepts, notions and methodologies to develop a strategy to support an entrepreneurship based approach for entrepreneurial ecosystems and communities.
2. Updated Approaches Workshop: Update and training for recent approaches to support entrepreneurship, in order to identify changes in global best practices. Also, draft ideas for local implementation.
3. Entrepreneur Process and Best Practices in Support Services Workshop: Acquisition of concepts and approaches relevant for the design and articulation of support services for entrepreneurs.
The ultimate purpose of the workshops is the update and reflection on adequacy for the context of the best practices in entrepreneurial support, especially at the level of actions and public policies.
The methodology used consists of participatory workshops with exercises, building activities and visual thinking, favoring the generation of networking between different stakeholders, as well as the identification of relevant supporters and stakeholders in the process of working with entrepreneurs.
Finally, this instance should allow the alignment of the conversation and establish a “social contract” between consultants and the program, the entrepreneurs and the work teamfacing the follow-up activities.
2.1.1 SOCIAL CONTRACTThe consultant participants should sign a Social Contract, in order to make explicit the standards of behavior and values that would guide one’s actions during program development.
The Social Contact should be signed by each consultant participant, incorporating the following commitments:
• Do not have conflicts of interest and declare if they exist (do not advise if there are personal, professional and business interests).
• Assistance is required for each of the workshops. • Enrollment and participation of the learning community on LinkedIn.
________________________________
18. The organization leading the process of implementing the entrepreneurial challenge should consider whether this work is developed pro bono or if some sort of fee can be recognized to the consultants for expenses during this process
18
37
The consultants must make a commitment to actively participate in the preparation process of entrepreneurs, attending the 2 workshop phase in full, and following up with the activities in the field after each workshop.
The formation process of consultants includes a theoretical and practical component, with the emphasis on the practical component. To do this, it is essential to work with real entrepreneurs applying a novel methodology and in many cases will move away from their expertise and standard practices as consultants en their organizations.
The commitment must assume that the consultants will have follow-up meetings to verify the compliance of field activities for the entrepreneurs and to redeem
PARTICIPATION OF THE CONSULTANTS
IN THE PREPARATION PROCESS OF
ENTREPRENEURS
________________________________
19. It is included as an attached document.
• Be willing to provide entrepreneurs with comments, knowledge and contacts.
• Facilitate the work of the workshops, listening to the entrepreneurs, asking questions and recommending courses of action.
• Follow up with the entrepreneurs and deliver feedback on progress and fieldwork learning.
• Reflect on the suggested lectures and discuss them with other participants.
• Collaborate with other consultants, be receptive and open, form a real community.
2.1.2 Organizational Checklist of the Event with ConsultantsIn order to verify the compliance with all of the requirements of the call and organization of the event for consultants, a checklist should be shared with the local partners for the organization and execution of the event . 19
38
learning and suggest courses of action. The consultants should participate in the decision about if they should “pivot” the business model, dismiss the idea, explore other options or continue in the same path. The consultant plays a key role as an external observer, capable of questioning the assumptions that the entrepreneur assumes, urging him/her to consider alternatives. It is a person that can lead the entrepreneur to take the place of the client, to consider their needs and to be aware of the development needs of the initiative (for example, complementing the entrepreneur team with other capabilities).
The consultant is also calling to verify that the entrepreneur team meets the activities, evaluating their participation and performance in the process. Finally, the consultant should support the entrepreneur in the application design for the following phrases and should give emotional and motivational support in case that the entrepreneur team advances to the Evaluation Panel.
Commitment Letter of ConsultantsAdditionally,for the social contract, one should ask the consultants to sign a letter of commitment, which declares him/her willing to take on the workload of participation in workshops and to support the entrepreneurs .
Training of EntrepreneursThe training of entrepreneurs is based on the Lean Startup approach and client development, with workshop activities that are grouped in two sequential phases: discovery and validation of clients.
Each phase has a duration of 20 hours (2 and a half days) of workshops (4 hours for each workshop). It consists of large workshops, based on a methodology of group work, in which the entrepreneurs will work in groups of 4-5 people, with the assistance of one or more consultants, who will assume the role of activities facilitator. Workshops are conceptual and contain case presentations, but they promote group work in multiple activities. In turn, they have audio visual content (movie scenes and talks) to facilitate the assimilation of concepts.
The large workshops are an example of networking, peer meeting, designed to facilitate the rapid exchange of ideas and foster collaboration.
One of the principles behind the realization of the workshops, is that the ideas that present the entrepreneurs are incomplete, and only can advance in a context where the entrepreneur can communicate them, articulating and developing a validation plan to do so in its entirety (for the value proposition and business model). The entrepreneurs should also be allowed to test the ideas step-by-step, making decisions with the advice of an outside
________________________________
20. The commitment letter is annexed
39
observer who is not of the same cognitive biases and can provide a more objective and unbiased look.
After each workshop phase, the attendees will have 3 to 4 weeks for the fieldwork activities, that allow them to implement the lessons learned from the workshops.This fieldwork serves the purpose of validating the hypotheses that were built during the workshops. To contribute to the collective learning and to foster a spirit of community among the participants, there will be a Learning Community on LinkedIn with discussion groups to enable discussion of field activities, a space for channeling team questions or doubts, as well as sharing experiences and learning with peers.
The fieldwork was also attended by consultants in charge of accompanying entrepreneurs.The role of the consultants was no substitute for entrepreneurs in conducting the field work, but rather to seek learning and suggest courses of action based on the results of the validation.
Finally, after Phase 1 of the workshops one will conduct the pre-selection process to advance to the Phase 2 workshops. After Phase 2, one will also conduct a pre-selection process to advance to the final Evaluation Panel. The methodology and content of these pre-selection processes should be described in the following point. They will be developed around each phase of the workshops and fieldwork.
2.4.1 Logistical Requirements for the WorkshopsFor the good performance of the workshops, one must produce documents and checklists to be verified by the organizers, indicating the logistical requirements whose compliance is deemed necessary.
For both the workshops and entrepreneurs such as in the workshop of consultants and specialists, the general logistical requirements are the following:
• A room with capacity for 250 people (only for the workshop with entrepreneurs)• The room should allow to move the chairs (they should not be fixed) and there should
________________________________
21. Or a similar platform
40
be tables for 4-5 people to work.• The room should have air conditioning if weather conditions warrant. • Projector, audio and a WIFI internet connection (the projection should be visible for all the attendees).• White board• Wireless microphone• PowerPoint Presenter Remote• Coffee (to serve during breaks).• If the activity lasts all day, lunch should be included. Moreover, the following work materials are required:
• Flip chart: a 4 hour workshop will require a flipchart for every 4 attendees.• Markers: at least one per attendee• 1 package (100 sheets) of Post-it notes or sticky notes for every 4 attendees at a 4 hour workshop• Letter size paper: 2 sheets per attendee
In case of any problems and control of the attendance, the requirements are the following:
• Person in charge of registration of attendees• Person who delivers the work program. • Support for technical problems
Finally, one will specify a recommended layout of the tables (in the figure below):
The verification of the logistic conditions is done the day before the workshops. To do this, the organizers must have a checklist with all tasks to be done. The checklist must be signed at the end.
________________________________
22. The list is included as annex
22
41
2.4.2 Workshop Content of Phase 1: Customer Discovery23
The first phase of the workshop should be done in 2 ½ days of workshops (20 hours in total), corresponding to 4 workshops. These correspond to the phase of client discovery, whose purpose is to make entrepreneurs
ILLUSTRATION 6RECOMMENDED AUDITORIUM LAYOUT FOR THE WORKSHOPS
PROJECTOR
become aware of the initial assumptions on which the entrepreneurship is based: the definition of problems or necessities of those who are in charge; the identification of client segments to those who are targeted; the articulation of a value proposition; and the design of prototypes or minimum viable products solutions (the product or service). In turn, the starting point of these workshops is that entrepreneurs become aware of the capabilities that make an
________________________________
23. Description sheets are included on the Manual of Worshop facilitation with lean startup methodology and customer development
42
entrepreneur, that they can evaluate their own skills and talents, and that they exploit the opportunity to meet people who complement their ideas and projects.
The event is also an opportunity that also permits them to interact with the consultants with which they can initiate a working relationship. Finally, one should seek to take this opportunity to educate entrepreneurs in validation tools to use during the fieldwork.
The following information presents the contents of the workshops from Phase 1:
WORKSHOP NAMES WORKSHOP CONTENT
Workshop1: Entrepreneurial Capacity
• Definition of entrepreneurs• Effectual entrepreneurs• Personal business model (Canvas of personal strengths)• Individual and Group activities• Principles of Effectuation• Contact Networks and role in networks• Individual and Group activities• Entrepreneur teams and key collaborators• Profile of the innovator (ADN)• Profile of design thinking• Interpreters and Innovators
Workshop 2: Initial discovery, the problem, the client of the
business opportunity
• Social Contract commitment of entrepreneurs with the program: listen, cooperate, others
• Work Fundamentals: Blank – Ries• Principles of Lean Startup• The birth of a Startup• Startup vs. Scale up• Discovery of the problem to be solved• Discovery of the clients• Observation and ethnography tools• Map of empathy• Story Telling• Role playing interviews of the problem
TABLE 4DESCRIPTION OF THE WORKSHOP CONTENT OF PHASE 1
43
WORKSHOP NAMES WORKSHOP CONTENT
Workshop 3: Building My Unique Value Proposition
• Comprehension of the concept of value proposition VP• Value Proposition Canvas (PV).• Product-Market Fit• Design Thinking
Workshop 4: Prototypes and Minimum Viable Product
(MVP)
• Minimum Viable Product (MVP)• Experiments Design with MVP• Smoke tests, MVP Concierge, PMV Crowdfunding, others.• MVP + Canvas of VP.• Accounting Innovation• Organizing the field work• Tasks, planning and instructions to send information and
application of the next phase
2.4.3 Field Activities of Phase 1During the 3 weeks that follow the workshops of Phase 1, the entrepreneurs should perform activities of field work to validate the main hypothesis of its business (problems to resolve, customer segments, value proposition and solution attributes).
For this, they are asked to perform the following activities:
• 10 Interviews about the problem• 5 Field Observations• 10 interviews of the solution (using prototypes or MVP)
The 10 interviews of the problems and the observations must be done within two weeks, while the solution interviews are completed in week 3 of the field work. To guide entrepreneurs, one should send them an instructional presentation with field work, including a description of how to do interviews and observations.
The field work activities correspond to the consultant of each project accompanying a role play. The consultant must commit to conducting a group meeting at the end for the weeks of field work, in order to obtain the main lessons learned and suggest courses of action for the initiative.
Finally, the results learning outcomes of the field work should focus on making concrete decisions about the direction the project should continue. Its purpose is making decisions about iteration or pivots. They are expected to define whether entrepreneurs validate the initial hypothesis, discard or modify it.
The results obtained, and decisions about the learning iterations and adjustments to the initial assumptions of the project, should be required to be submitted to advance to Phase 2 of the video workshops and pitch (these requirements are explained later in the document).
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2.4.4 Workshop Contents of Phase 2: Validation5 workshops should be done during the
second phase of work, which makes up the Validation Phase, which follows the Discovery of Clients Phase, that make up the workshops held during Phase 1.
1. The first of these workshops is #5 (numbering according to total workshops in both phases), “Discovery, Final Adjustments”. This workshop addresses the objective of reviewing the client discovery activities done during the first phase, with the purpose of connecting with validation activities, evaluate the iterations performed, together with an estimate of market size.
2. Workshop #6 is the “Business and Lean Canvas Models”, which is intended for entrepreneurs to design the business model initiative, using the tool of Lean Canvas from Ash Maurya. Along with this, business model variants are explored and the higher risk elements are identified in the current business model.
3. Next is #7, “Validation, Metrics and Pivots”, with the objective to prepare the elements for market release, still in learning mode, along with delivering the items to design sales experimentsand test the business model. The tools presented in this workshop are key to advance a validation of each component of the business model, generating indicators for deciding whether to advance or change any essential aspects of the value proposition.
4. Number 8 is the “Guidelines and Preparation for the Application for Seed Capital”. The objective is to transmit information specifically about the purpose and functionality of the Seed Capital, as well as to prepare a prototype of a financial budget with which one can apply for funding. Along with this, the next steps are described in the next steps and requirements for the application to this fund.
5. Finally, one should do workshop #9 “Elevator Pitch”, the objective of which is to present the elements of this effective presentation tool, and to train the entrepreneurs in the design and execution of a salesman pitch.
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Below are listed the workshops and the issues
presented in each:
• Workshop 5 “Rethinking: Final Adjustments to the discovery Phase”
The workshop incorporates the following content:
o Reflection about the field activities’ resultso Rethinking the conceptso Estimation of the market sizeo Market tipso Buying cycle and distribution channelso Analysis of value curves
• Workshop 6 “Business and Lean Canvas Models” The workshop incorporates the following content:
o Rethinking the value curveso Business model definitionso Business model vs. Business plano Lean Canvaso Working blocks of Lean Canvaso Growth engineso Business model patterns
• Workshop 7 “Validation, metrics and pivots” incorporates the following content:
Remember what we have seen so far Prepare engines for release Validation clients y business model:
Leaving the building (sales)
o
» Positioning » Sale Material » Early Adaptors » Influencers » Advisory Board
o
oo
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• Workshop 8 “Guidelines and Preparation for the Application for Seed Capital”:The workshop incorporates the following content:
o What is seed capital?o What to fundo What not to fundo Who participateso How to postulate and assigno Building the budget
• Workshop 9 “Elevator Pitch”The workshop incorporates the following content:
o What is seed capital?o What to fundo What not to fundo Who participateso How to postulate and assigno Building the budget
2.4.5 Field Activities of Phase 2The principle objective of the field activities during phase 2, after finishing the phase 2 workshops,is the validation of the business model, in those elements that were not considered during the discovery of clients: • Test the acquisition route activation of clients
• Test the channels
• Test the price and the sources of income
• Test the willingness to pay
The work should be directed to answer the following questions:
• Acquisition: What is our growth engine? How do we acquire new clients? What are the costs to acquire a new client?
• Channels: What channels would be usedto acquire new clients?
• Price: Is the Price appropriate?
• Willingness to pay: Can we find clients willing to pay at this stage of product development (“early adopters”)?
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The recommended activities step by step are the following:
1. Build a sales pitch (clearly indicating that the solution is and what the benefits are). Define the price of the product or service.
2.Gather the sales material you need (brochure, video, ppt, website, etc.).
3. Identify your “early adaptors”.
4. Define how you will reach your “early adaptors” (through calls, emails, presentations by other people, being in a store, etc.).
5. Identify at least 30 early adaptors and achieve to advertise your offer to at least 20. Request a meeting to present and explain the productor service.
6. With those that you meet, check if they are early adaptors. Ask if they have a problem or need.
7. If they are interested in the product,ask them to submit their data and sign a letter of intent, or specify a sale.
8. If they are not interested in buying, ask them to provide reasons for not buying. Is something missing in the product? Is it the price? Is it for another reason?
As in the Phase 1 field activities, during this phase accompanying the consultant is considered necessary to monitor learning and define a course of action. In turn, the consultant or consultant should support the design of the video presentation and pitch for the Final Selection Panel.
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Phase 3Evaluation
50
The following illustration presents the activities that should develop the consultants and entrepreneurs in each of the following phases: Phase 3 of evaluation, phase 4 of selection and phase 5 of start up.
A minimum condition for moving from Phase 1 to Phase 2 workshops, is the fulfillment of fieldwork (the required activities), along with sending a presentation and a video pitch. The reason for the latter requirement is to communicate the knowledge acquired and verify compliance with the fieldwork. In turn, according to the quality of the presentations, one will be selected to advance to the next phase.
ILLUSTRATION 7ACTIVITIES OF PHASES 3, 4 AND 5
EVALUATION IMPLEMENTATION
3 5
SELECTION
4
PREPARATION
2IDNETIFICATION
1
RAISINGAWARENESS
0
ENTRENEUR CONSULTANT
• Create Video Pith• Slected entrepreneur must
improve presentation according to feedback
• Help creating video pitch
• Present to the evaluation• Receive feedback • Observer
• Assemblig Investment plan• Signing documents and contrants• Execute recources• Create middle and final report
• Help creating the investment plan• Follow periodicaly entrepreneur advances
EVAL
UATI
ONSE
LECT
ION
IMPL
EMEN
TATI
ON
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ILLUSTRATION 8SELECTION MILESTONES OF THE PROCESS
In the following chart you can appreciate the 3 main selection events during the process. The two first selection gates are previous to the Evaluation Committee, were the investment plan is presented. These previous milestones allow to prepare and change the main formulation of the project.
PHASE 1:CONSTUMER DISCOVERY
PHASE 2:COSTUMERVALIDATION
EVALUATIONCOMMITTEE
CALL SEED CAPITALFUNDING
2.255POSTULATIONS
1.203PROJECTS
571PROJECTS
261PROJECTS
137PROJECTS
SELECTION SELECTION SELECTION
The content of the presentations during the first selection gate is the following (1 slide for each content):
• Problem/need: Explain what are the main problems or needs that are addressed by the project.
• Customer Segments: Explain what are the main customer segments to which the project is directed.
• Value Offer: Explain the value offer or the project (the solution and the benefits it provides, according to the
stated problems).• Entrepreneurial Team: Explain which
are the members, their experience and skills.
• Summary of the Fieldwork: Evidence of the fieldwork and the main findings.
• Next Steps: What adjustments follow the findings from the fieldwork activities.
A YouTube video is required (the link should be provided as part of a Google Drive form). The presentation is also
SELECTION TO PHASE 2
Source: CENPROMYPE, 2013
52
required and should be sent via email. The YouTube video has a 3 minute limit, and it should contain the same structure.
The videos and presentations should be evaluated according to the same criteria (grading each of them
with scores from 1 to 5, according to the degree in which they present), by at least 2 evaluators, who grade independently. They include evaluators coming from the organizing entities. After that, the evaluations should be added and an average grading should be achieved. After each applicant gets an average grade, a ranking of the applicants should be developed. Finally, the organizers should define the average grade above which the applicants will be accepted.
Once the final results are obtained, the results should
be communicated via email. The main reasons for being selected or non-selected should be detailed here.
To clarify any doubts, a debate topic should be opened at the LinkedIn discussion group.
SELECTION TO THE FINAL EVALUATION COMMITTEE
A new selection process is done at the end of the fieldworkField wof Phase 2. The result of this selection milestone is defining whopasses to the Final Evaluation Committee. For this stance, the applicants should complete an application form in Google Drive, including the link to the application video.
In this case, the following contents are required for the presentation and video pitch (which shouldn’t last more than 5 minutes):
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ATTRIBUTE DEFINITION
Problem or Need The entrepreneurial team understands and is able to describe the problems or needs tackled by the initiative.
Customer Segments The entrepreneurial team offers a clear description of the different customer segments towards the project is directed.
Value Proposition The entrepreneurial team offers a clear description of the value and benefits provided by the proposed solution.
Prototype of the Solution or Minimum Viable Product
The applicants offer a description of the advancement in the development of their solution, showing results of the testing of their prototypes and Minimum Viable Products with customers.
Size of the Market Opportunity The applicants can communicate the size of the market potential of their business.
Business Model It is shown how initiative captures value and its revenue sources.
Findings from Fieldwork Activities
The entrepreneurial team has learned from their customers and market context, validatinf most ok their initial assumptions and changing some relevant elements of their value proposition and business model.
Budget Proposal The activities included in the Budget proposal are consistent with the general goals of the Fund.
Entrepreneurial Team The apllicants offer a clear description of the experience, skills and roles of the team members.
TABLE 5CONTENTS OF THE PITCH FOR THE APPLICATION PROCESS TO THE FINAL EVALUATION COMMITTEE.
The evaluators, after grading the applicants, will have additional space in their evaluation form to add comments and suggestions. They are an essential part of the feedback that is provided to the applicants.
In this evaluation stage the local organizers play a leading role. Each project should be graded with scores from 1 to 5 in each of the attributes. The scores should be averages and a ranking should be elaborated, establishing a score above which the projects might be accepted.
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Both the selected and non selected projects should receive an email communicating the decision and providing recommendations For those who were not selected, it is important to inform them about the reasons for not continuing in the process, including comments and recommendations from the evaluators.
CLARIFICATION OF DOUBTS IN THE LINKEDIN COMMUNITY
A significant number of participants can join or initiate discussion themes at the LinkedIn group, allowing them to clarify their doubts regarding the requirements needed to advance to the Evaluation Committee.
Below, there is an example of a debate called “Entrepreneurial Video Pitch!” which received 19 comments; it also shows additional debates that help the entrepreneurial to solve their doubts and share their progress.
Some of these debates are related to doubts that can be clarified directly by the coordinators of the fieldwork activities. The doubts can also be clarified by peers or the consultants involved in the process:
• “Blessings to all the entrepreneurs; some have shared their video links and here is the link of my video, I hope you like it!” (created by Ana Valladares, El Salvador, 2 comments).
________________________________
24. The content of the e-mail or letter is presented as annex.25. This message is also included as annex.
24
25
55
• “VIDEOS EXPRES. My friends, I am sharing this which helped me to record my video last time” (created by Fernando Escalante, Guatemala, 2 comments).
• “Good evening, can someone tell me how to create metrics in the second phase?” (created by Katheryn Meredith Perez, Guatemala, 1 comment).
• “Mario/Gabriel: for the financial budget, do we consider the sales of the PVM or do we calculate the sales of the product/service? (created by Flor M. Lopez, Guatemala, 3 comments).
• “Good evening, can you help me some examples regarding to the exercise of value curves to determine the competition? Thank you” (created by Monica Salgado, Honduras, 5 comments).
• “I am sharing this interesting link of lectures and business model. Regards” (created by Norithza Iveth Reyes, Honduras, 7 comments).
• “Mario/Gabriel: I have a question; for the case of Guatemala, the income source and cost structure must be presented in Quetzales or Dollars? I look forward for your response. Thank you” (created by Francisco Recinos, Guatemala, 1 comment).
• “I know that some of my entrepreneurial colleagues are concerned on how to make a successful video pitch, I am sharing a link that may help” (created by Yeni Regina Salinas, Honduras, 2 comments).
• “I have made my first $25 sale, but this customer recommended my product/service to another and this new customer placed an order for $500 dollars” (created by Carlos Manrique Zelaya, Honduras, 13 comments).
• “The importance of the cost structure of our Viable Minimum Product and the start up of the initiative” (created by Alba Gabriela Garay, Honduras, 7 comments).
• “Metrics and their application on this phase” (created by Mauricio Chavez, El Salvador, 20 comments).
• “Which tools can I use to build the sales video pitch?” (created by Rosemary Sorto, El Salvador, 2 comments).
• “Now it is time to sell but I have a question, I have made my first sale but the customer gave me the 50 per cent of the cost of my product… I need advise” (created by Carlos Manrique Zelaya, Honduras, 5 comments).
• “Stressed in the final stage of the Programme. I recommend you to watch TURBO, a movie about a snail who has a dream…” (created by Jennie Zamira Gonzalez, Panama, 0 comments).
• What is the purpose of using progress metrics in the development of a project?” (Trinidad Gomez, Dominican Republic, 6 comments).
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Some of these debates presented as examples, show different doubts or concerns addressed to the coordinator team in the field. However, in other debates there is the participation of both consultants and entrepreneurs. The social contract signed by consultants and entrepreneurs involved in the process should predispose them to collaborate. The LinkedIn is also intended for sharing experiences and findings during the fieldwork activities.
Below, we quote some of these examples:
• “The customer-problem has been one of the most difficult themes, including in the second workshop as the theme is not well understood to lead the people to stop thinking that the problem is “the lack of my products in the market”. Answers such as: the problem is that there is not a place like…; there is no one in the area who sells candies such as the ones I am making…, no one sells honey in the presentation that I am producing…, has been recurrent among our entrepreneurs. The entrepreneur must get rid of his products for only a moment and start thinking about what happens outside the building, what validating work needs to be done, iterate and try again”. (Walther Cuellar, El Salvador).
• “Is placing your 3 pain relievers and 3 creators of your initiative in comparison with your competition. You value them from 1 to 5. Look for those 3 aspects of your competition that can be compared to, depending on your product or service. It is hard because they may not do the same product or service that you do, but you need to look for something similar to your product and compare it to theirs. If you have something better of what they have, that is called competitive advantage. I hope I have provide some inputs” (Kevin Zea, Guatemala).
• “Hello colleagues! We are in the final stage of our presentation. We are also offering the product. Therefore, we have gone from the VMP phase to the phase of a more finished product, with labels and legal information for human consumption. We keep the price. On the other hand, we are negotiating to become a supplier in one of the most greater supermarket chains in the country, we will enter that market as an artisan supplier. Procesador de Alimentos Doble O, va con todo! (Food Processor Double O, suits everything). Regards. Orlando Zury Diaz, Panama).
• “Our product has been well received among those who know it and who have tasted it. According to the recommendations, we will be presenting it in two different ways: sliced and whole. Sales have been good and we are very optimistic in developing this business initiative. One additional comment is that I really like the methodology, I consider it a creative and effective way of creating a new business and it is better than sitting and writing a business plan and then try it in the market. The advantage of this methodology is that we have try to put our products in the market, have it adjusted to our customers requests and without having all the requirements meet, we are selling them and getting orders. Regards and I wish success to all the entrepreneurs and consultants” (Inola Mapp, Panama)
PHASE 4Selection
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The selection process involves self-selection, because many participants abandon the process previously, if they fail to achieve the fieldwork activities or if they don’t fill the basic requirements. Also, many of them lack all the motivation.
The Selection Committee is the deliberation milestone that defines the allocation of resources to the applicants. This milestone is needed to define which projects are funded, which are not selected for funding and which are conditional on the accomplishment of certain conditions. The Committee may require changes in the investment plan proposed by the applicants.
The Evaluation Committee should be composed by at least 5 people. Three of them should belong to the organizer entities.
If possible, the Committee should be completed with people belonging to one or more of the following profiles of evaluators:
• Representatives of financial institutions. • Business people or experienced entrepreneurs. • People successful in their respective fields of work. • Company directors. • Successful members of the country’s diaspora.
Gender equity must be promoted in the creation of the evaluation panels.
In each case, the people invited to the Committee should receive a previous training session, to help them understand the content of their role, the structure of the activity and the evaluation criteria and methodology.
The Evaluation Committee allows to provide transparency to the whole evaluation process, providing the entrepreneurs with all the needed information about the evaluation criteria and the composition of the Committee. On the other hand, it adds value to the participants, because it allows them to receive feedback and comments from a diverse set of people, many of which have previous entrepreneurial experience. This advice can help them set their course of action and strategy, and to be aware of the assumptions that may fail in their businesses.
The Evaluation Committee should take place in 1-2 days, depending on the number of applicants. En each case, the applicants have 5 minutes to deliver a pitch, and then they get 5 minutes of questions from the evaluators. The applicants should be there at least 15 minutes the time of their presentation.
The evaluation methodology requires that the members of the Committee grade the applicants according to each of the evaluation criteria, the same criteria that was used during the pre-selection to this stance. At the end of the session, all the evaluations are added and averages
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26. CENPROMYPE has the manual of the implementation of the SICA EMPREDE Found, which can be taken as reference for managing seed capital funds.
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for each project, and a ranking is elaborated for the whole list of applicants. At this point the evaluators should decide which is the cutting-point score, above which the applicants will be selected for the funding.
Next, we share the evaluation criteria to be used and the meaning of each grade:
TABLE 6EVALUATION CRITERIA FOR THE EVALUATION COMMITTEE
EVALUATIONATTRIBUTE 1 3 5 ADDITIONAL
COMMENTS
Problem or need
The entrepreneurial team doesn’t state
or explains the problem or need
addressed.
The entrepreneurial team mentions the
problem or need that the project tackles, but its
description and understanding is limited. There is
also not a clear idea about the relevance and importance of
the problem.
The entrepreneurial team understands
thoroughly and describes in a clear way the problems or needs that the initiative tackles.
Customer Segments
The entrepreneurial team doesn’t explain the
customer segments towards they direct.
The entrepreneurial team mentions
its customer segments, but the description
it provides is not complete.
The entrepreneurial team offers clear
and thorough description of its
different customer segments.
Value Proposition
The entrepreneurial team doesn’t
deliver a connection the benefits
provided by their solution, with the
problems and pains that the customer has to deal with.
The entrepreneurial team provides a
limited description of the connection
between the benefits provided by the solution,
the problems addressed by the customer and its
context.
The entrepreneurial team offers a clear description of the value and benefits that the solution provides to the
customer, and how this solution tackles the needs they face.
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EVALUATIONATTRIBUTE 1 3 5 ADDITIONAL
COMMENTS
Protoype of the Solution or
MVP
The product or solution is not properly
introduced, and its level of progress is
not understood.
The entrepreneurial team presented the
level of progress of the solution and its main attributes
and benefits. Nevertheless, this solution has not been tested with actual customers.
The entrepreneurial team offers a thorough
description of the level of progress
of the solution and of the results of
the testing of the prototypes and
Minimum Viable Product with actual
customers.
Size of the Market
Opportunity
It is not possible to evaluate the
size of the market opportunity of this business, or it is too
small to become a high-growth potential new
business.
The entrepreneurial team presents and estimate of the size of the opportunity.
However, there are still are some
doubts regarding its attractiveness
The entrepreneurial team is capable of sizing its market potential, which seems to be very
attractive.
Business Model
The entrepreneurial team doesn’t have a clear idea of how to generate income
and how much to charge for the
product or service.
The entrepreneurial team has
assumptions regarding how to generate income.
Nevertheless, these assumptions have not been tested.
The team provides a description on
how the initiative generates and captures value.
On the other hand, they have
already approached intended customers,
and they have properly tested their willingness to buy at
the price.
The entrepreneurial team has not been
introduced.
The entrepreneurial team has been
introduced, but this team needs to be complemented by some missing skills that are needed for
the development of the project
There is a description of
the experience, background and
roles played by each of the members of
the team. This team gathers the required
skills to tackle the challenge of building
a new company.
EntreoreneurialTeam
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EVALUATIONATTRIBUTE 1 3 5 ADDITIONAL
COMMENTS
Budget Proposal
The Budget proposal is not consistent with the objectives
of the Fund. The activities within it don’t to test the
new business idea, or it include non-
fundable activities.
The Budget proposal is
consistent with the genera purpose of the Fund, but
there are still some activities that may
not be properly justified.
The intended use of the resources
is consistent with the methodology
of low cost experimentation.
Global Evaluation
The project doesn’t show a high
potential for angel investment.
It may be needed to make some changes
to the project, so it can take the best advantage of the
resources.
The business idea is an attractive
high potential new business, based on assumptions
that can be tested with the use of the
resources.
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The elaboration of the comments and the gathering of the signatures from the Minute, which informs the decision to each applicant, should be responsibility of a person who assumes the role of Secretary of the Committee, selected by the local organizers.
The deliberation of the Committee should be made official through the signature of a Minute from the Committee . Since the Minute is read and signed, the decision of the Panel cannot be reversed.
The next step, once the Evaluation Committee has deliberated, is the communication of the results to the applicants. This communication is done by sending emails informing the result, both for selected and non-selected projects, explaining the main suggestions and questions from the members of the Committee.
The selected initiatives are invited to participate in the formulation of a work plan. Some initiatives may be required to fulfill additional conditions before the funding is authorized to them .
We present a guide for the organization and execution of the Evaluation Panels. This guide should be used by the local team, as a guide for the coordination and execution
of the evaluation panel. It provides a description of the materials required and of the actions that need to be executed before, during and after the Panel.
First, we show a description of the required materials. Secondly, we specify the actions required for the proper development of the Panel, mentioning the persons that should participate and the roles to be filled. Then, we describe the process of delivery of the presentations. And finally, we add a few checklists to be used by the coordinator of the event .
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27. El formato se incluye como documento anexo. 28. Adjuntamos en anexos las cartas de notificación a proyectos financiados y no financiados por el panel de evaluación.29. Las listas de chequeo se incluyen como anexo.
LOGISTICAL AND ORGANIZATIONAL
REQUIREMENTS OF THE PANELS
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Infrastructure of the venue/locationThe venue/location should have:
• Tables and seats for the memb ers of the Panel (at least 5 spots). • A system to project the presentations
with a proper sound system. • Enough space for other 10 persons sea-
ting and looking to the presentation. • Internet connection.
Activities prior to the Panel:
For the preparation of the Panel you should check the following elements: • Definite list of the entrepreneurs selected for the Panel: Only those projects that have
accomplished the training process and that have delivered the required documents will be accepted. You should verify that all the selected projects have attended the workshops and that they delivered the required presentations and videos.
• Inform the members of the Panel: Inform the members of the Panel of the location and time of the presentation.
• Assign an ID to each project: If they still don’t have one, provide a simple ID number to each of them. This way we avoid confusions when collecting the evaluations and comments.
• Build a Schedule of presentations: depending on the number of projects, it is necessary to build a Schedule, so the participants don’t have to be there the whole day waiting for their turn.This Schedule should have the ID of the project, a brief description of the business and the name of the lead entrepreneur.
• Inform the entrepreneurs: communicate all the participants of the location, date and time of their presentation.They are advised to be there 30 minutes in advance. This communication should have a description of the time they have for the presentation and for receiving feedback and answering questions.
• Ask and organize the presentations: the presentations should be send at least one day before the event.Those who haven’t send it are not allowed to present. They should be
ACTIVITIES PRIOR TO THE PANEL
Logistics of the panelWe describe in detail the main activities and their purpose in the coordination and proper development of the Panel.
We describe in detail the main activitiesand their purpose in the coordination andproper development of the Panel.
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send as a PDF file, to avoid any problems. The presentations should be named with the ID of the project and the short name of the business idea.
• Upload the presentations to the computer: to save time and avoid technical problems, all the presentations should be uploaded and tested to the same computer, at least 24 hours before the Panel.
• Visit the location and check materials: prior to the Panel, the coordinator should visit the location and verify that it complies with the requirements, specially the audio system and the air conditioning. Also, the coordinator should check if all the work materials are ready for the event.
During the development of the Panel, it is important to check the execution of the following actions:
•
•
•
ACTIVITIES DURING THE PANEL
Verification and coordination of the entrepreneurs: one person should verify that all the attendees were in the list of entrepreneurs accepted and invited to the Panel. This person should also be in charge of inviting them to come to the room and asking them to leave after the time is over. Introduce the entrepreneurs and members of the Panel: before starting the presentation, you should introduce the members of the Panel and the entrepreneurs to each other. Take the time: one of the critical elements in the execution of the Panel is keeping time. Not only because we need to listen to all the applicants, but also because they should present under equal conditions. One person should be responsible of informing when the time is about to finish and when is over.
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After the Panel, the following actions have to be executed: •
•
be a person in charge of writing down the interaction (questions and answers, suggestions and additional information) between the members of the panel and the entrepreneurs.
•
•
ACTIVITIES AFTER THE PANEL
Informing the selected and non-selected applicants: by the use of emailing, letters, website or other form of communication, you should communicate the result of the evaluation Panel to the selected and non-selected projects. It is important to include in this communication the grades for each attribute, the comments and suggestions, so there is complete transparency in the process. The information should be communicated also to the consultants of each project. Next steps in the process: invite the selected applicants to the required activities to continue the process of allocation of the fund.
Gathering the feedback from the members of the Panel: immediately after the presentation and feedback time is over, one person should gather the feedback of each of the members of the Panel, for which he should use a Google Drive spreadsheet. This step is very important, because it allows having the results in real time.Writing of a Minute from the Panel: after the Panel is over, a minute should be printed, stating the average score of each project in each of the graded attributes, the feedback to be provided to each project, including the suggestions, and the ranking of the selected projects.
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Participants and roles of the panelNext we define profiles of the members of the Panel and the roles they accomplish.
Members of the PanelThe members of the Panel are a diverse group of people, which includes the following persons: • •
• •
•
•
You should never have more than 5 members in the Panel, because it might disturb the logistics and proper development of the event. It is important to have equal number of women and men in the evaluating panel, if possible.
The members of the panel have the role of listening to each of the applicant’s presentations, making questions and providing feedback. They should evaluate each of the applicants and provide suggestions for their work plan.
EntrepreneursEach project should be presented by the lead entrepreneur or by other members of the entrepreneurial team. Persons not belonging to the entrepreneurial team are not going to be allowed during the presentation. Also, the consultants are not allowed to present the project.
No more than 2 persons in each team are allowed to present.
ConsultantsThe consultants of each project are allowed to attend to the presentation, but they are not allowed to intervene during and after the presentations, commenting or answering questions.
Their role is to take notes and listening to the members of the Panel, with the purpose of understanding their opinions about the next actions the team should take.
Coordination TeamThe team responsible for the coordination and execution of the Panel is going to be designated by the local counterpart. Their role is to verify that the Panel develops in a proper and transparent way.
Leaders from the local organization. Leaders from supporting organizations. The Panel has to be completed by at least two other people belonging to the following profiles:Representative of a banking institution Business people or experienced entrepreneurs who have successfully founded at least one company Outstanding personalities in their fields of work Directives of big companiesMembers of the diaspora with access to networks abroad
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PresentationsThe review of each applicant should take 12 minutes in total:
• •
•
After 10 presentations, the Panel takes a 10 minutes break, in which they share comments about the projects they have reviewed.
5 minutes of presentation: presentation of the applicants. They should be informed when they have one minute left. 5 minutes of questions and feedback: after the 5 minutes of presentation, the members of the panel will have time to make 2 brief questions. The entrepreneurs can answer these questions, but the time taken shouldn’t exceed 5 minutes in total. After this time, the entrepreneurs are asked to leave the room. 2 minutes of evaluation: without the entrepreneurs in the room, each member of the panel grades and provides comments using the evaluation form. After grading, they can exchange a few words, but only after everyone has graded the applicants. By doing this, we avoid that they influence each other’s decisions.
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CENPROMYPECENPROMYPE, Regional Center for the Promotion of Micro and Small Enterprises is an agency attached to the Central American Integration System (SICA) and its Board of Directors is composed by the national authorities that promote MSMEs in Belize, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama and the Dominican Republic.
VISIONMSMEs of Central America and the Dominican Republic are integrated and connected with the SICA region and the world.
MISSIONArticulate an ecosystem to support entrepreneurship, the competitive development of MSMEs and their integration into markets, through the strengthening of institutional capacities and the promotion of targeted public policies.
