AGBU NYSIP Accepting Applications for Start-Up Incubator Program!

Calling all entrepreneurs!

Goal/Mission

We believe all aspiring Armenian entrepreneurs have what it takes to start and lead successful businesses in the global economy.  Through the new AGBU NYSIP Start-Up Incubator Program, we give one (1) promising student the chance establish or join a start-up company in a structured internship setting.

The Incubator Intern will have one Main Advisor and Board of Directors who will help guide the growth of the start-up over the 8-week internship.

Eligibility

AGBU Summer Internship Program Criteria

Key Stages

1: Submit application
2: Selection
3. Submit finalized start-up OR secure start-up internship
4: Begin incubator internship!
5: Deliver mid-summer presentation
6: Deliver final pitch presentation

How to apply…

  1. Apply to AGBU New York Summer Internship Program
  2. Choose “NYSIP Start-Up Incubator Program” as your 1st Industry Choice in Step 4 of the NYSIP application
  3. Submit Supplemental Incubator Materials:* 
    • NYSIP Incubator Intent to Participate (max. 10 pages)
      • business overview & analysis of your own start-up or company with which you have arranged to work
    • If applicable, proof of funding, incorporation, awards received, etc.

Questions to answer in your Intent to Participate…

  • What will your venture do or make?
  • What pain points will your venture address?
  • What is your value proposition?
  • Describe your target segment and the size of your addressable market.
  • Who are your major competitors?
  • What is your venture’s competitive advantage?
  • Please describe your business model.
  • Please describe current status of business and any milestones achieved (e.g., prototype completed, customers, revenue).
  • Please briefly tell us about each team member, their role, and each team member’s relevant experience.

*Email Supplemental Materials to nysip@agbu.org; subject of email: “LAST NAME, First Name Incubator 2016 Materials”

Selection

The AGBU NYSIP selection committee will review all incubator applications, and select one (1) application based on the following criteria:

  • Market Opportunity
  • Competitive Advantage
  • Investment Potential
  • Financial Understanding

Main Advisor Responsibilities

  • schedule weekly check-ins
  • set up benchmarks and deliverables
  • make introductions to industry players
  • set up networking opportunities
  • evaluate mid-summer pitch
  • evaluate final pitch

Estimated Time Commitment for Main Advisor

  • 30 mins/week over 8 weeks for weekly check-in
    • time for setting up intro’s
  • 1 Trip to mid-summer pitch (1-2 hours) – in person
  • 1 Trip to final pitch (1-2 hours) – in person

Total Summer Time Commitment: 12 hours

Board of Directors Responsibilities

  • make introductions to industry players
  • set up networking events
  • evaluate mid-summer pitch
  • evaluate final pitch

Estimated Commitment for a Board Member

  • Two 30-minute meetings setting up introductions
  • Attend mid-summer pitch (1-2 hours) – phone or in person
  • Attend final pitch (1-2 hours) – phone or in person

Total Summer Time Tommitment: 5 hours

Mid-summer Pitch & Final Pitch

The Incubator Intern will present to their Main Advisor, Board of Directors and NYSIP staff twice throughout the summer, in a Mid-summer Pitch and a Final Pitch.  Each presentation should touch on the following aspects of the start-up company:

  • Mission/Vision
  • Management Team
  • Business Product or Service
  • Market
  • Competition
  • Key Milestones
  • Risk
  • Opportunity
  • Capital Requirements
  • Exit Potential
  • Financial Snapshot

For any questions, contact Christina Lalama at clalama@agbu.org..