Demo Day gave an impulse to startups market entryDec 1, 2016
Demo Day, a final event of the 'Startup-initiatives' Startup Support Programme, became the beginning of a new phase for 13 finalists of the Programme. As a result, of the event, six projects are negotiating with investors on further partnership issues.
After three months of intensive work on ideas, testing hypothesis, creating minimum viable products, the Demo Day offered the participants opportunities to engage investors for the development of their projects.
Taking into account that the Programme was attended by students and teachers of universities, the Demo Day served as a platform where educational institutes met with private sector. Participants shared their ideas, knowledge and invited experts shared their experience and gave their feedback. Each pitch was followed by discussion, question and answer sessions.
Based on the evaluation of invited experts, three best projects have been identifiedin terms of relevance of the ideas and scalability of the business. According to the guests, 'SMS Ona', 'Light by Knowledge', 'Manzil' were identified as best projects.
“It was a critical day for our team to which we have long been preparing. The fact that our project was selected as one of the best project means that we are on a right way,” shared her impressions Ms. Yokut Sharipova, leader of the ‘Light by Knowledge’ project.
“We want to implement our idea, not for ourselves, but for the health of future generation of Uzbekistan,” said Mr. Ruzimurod Erkinov, author of ‘SMS Ona’ project. - Our idea is to provide informationto young mothers and pregnant women in all regions of Uzbekistan, especially in remote areas, on pregnancy, child growth until one year old in Uzbek language.
“I was interested in this Programme because I wanted to learn about doing business as much as possible, communicate with successful entrepreneurs and learn from their experience,” says Shukhrat Agzamov, a finalist of the Programme from the Tashkent University of Information Technologies.
“We have already tried to launch our startup – the ‘Dovezu.uz’ mobile application. When we launched it, we had no clue about business processes, so we failed to include many important details in the project. Now we changed our approaches to business and hope to succeed.
As noted in their speeches, the Chairman of the Chamber of Commerce Alisher Shaykhov, UNDP Resident Representative in Uzbekistan Stefan Priesner and the British Ambassador in Uzbekistan Christopher Allan, youth participation in entrepreneurial activity is important not only for the generation of innovative ideas, but also create new jobs.
The initiative is implemented as part of the inclusive business model promotion project aimed at creating new jobs, improving youth employment and public welfare under the ‘Business Forum of Uzbekistan (Phase III)’ joint project of Chamber of Commerce and Industry of Uzbekistan and UNDP in Uzbekistan. The project benefits from the financial support of South African Company 'Sasol', British Embassy in Uzbekistan and the Management Training Programme (MTP) of EU.