FAQ

1. Who are the Megapreneurs?

Megapreneurs are entrepreneurs who deal with the problems of mega cities. They will work with dedication & passion to develop a sustainable business model to alleviate different problems of city life and improve living conditions of millions of people.

2. What is the YSI Bangladesh Innovation Program?

Duration: 4-5 months (Both online & offline activities)

Campaign: 1-week campaign in Dhaka

 

The main focus of this innovation program is to develop a fully functional startup for your team with a sustainable business model. Innovative minds from all over the country are put in teams & will go through an innovation program of 4 modules & 8 objectives which has been developed following international standard & up-to-date knowledge. The 4-5 month-long program is mainly online, but few sessions will be offline where the Megapreneurs will meet each other, share their updates & also learn from experts. The offline programs will be held in Dhaka. The last week will have the campaign in Dhaka city where you will receive the fully funded trip, residence & food facility, meet with experts relevant to your startup, visit top startups of Bangladesh & learn from them, and, most importantly the Demo Day where your team will pitch your startup in front of a panel of renowned investors in Bangladesh.

 

Our program provides knowledge and tools in innovation, sustainability, and leadership. We train the teams to operate their own startup after having created a fully fledged startup in 5 months. We provide close mentorship and follow-up through our innovation team, and access to the YSI network of talents, partners, and mentors. We also train teams to find the necessary information and help they need to create progress and impact.

 

Let’s have a summarized look at the 4 modules you will go through:

1. Team

– Understand, communication and trust

– Common vision, alignment, work style, expectations

2. Understand

– Triple research

– Defining problem, several types of needs

– Overview of the external context the startup operates within

3. Solution

– Ideation

– MVP-test/Market-validation with potential customers and users

4. Build

– Brand, website, marketing

– Legal and finance

– Customers and partners solidified

– Prototype and action plan

3. What is the application procedure?

The application process of Megapreneurs 2.0 has already closed. You can apply for our next program in 2020. The date will be announced timely in our website.

The applicants will go through a 3 round selection process.

Please follow our Facebook page for updates: www.facebook.com/ysibd/

N.B: You apply Megapreneurs as an individual, not as a team.

4. Who are we looking for?

  • 16-28-year-old people
  • People with 20-35 hours to use every week during the innovation program
  • Dedicated people with a real drive for solving complex problems
  • People who are willing to make time and wants to create a real startup
  • People with a proven track record of excellence in resilience, drive, and who are passionately able to use their skills and knowledge towards a project of any kind
  • Open minded people who are willing to understand different walks of life, see things in a new perspective, and with an intention of creating a positive impact People who are crazy enough to think they can change the world, and bold enough to actually do it

5. Do you need to have a startup idea before applying here?

No.

Our innovation program is structured in such a way that it will take you from scratch, build an awesome team & finally make you as well as your team fully prepared to launch the startup. All we need is your dedication to the work, passion to stick to the dreams you had earlier, & finally, commitment to nurture the tree of entrepreneurship in yourself so that it becomes matured & provides shed, fruits, wood & so on (in our case, serve the society) to the people of the society.

If you are thinking of bringing a pre-developed idea & making it matured by your new team mates, then we are humbly requesting you not to apply here.

6. Is there any expense to join the program?

No, the program is 100% free of cost. Apart from this, you will get fully funded trip, residence & food facility during the innovation program.

7. Will YSI Bangladesh take any equity from your startup?

Yes. YSI Bangladesh will take 7% equity in total from your startup.

8. What are the benefits of sharing equity with YSI Bangladesh?

The point of equity sharing will make a relation of partnership between your startup & YSI Bangladesh.

We will help you with our large network of mentors & experts, do marketing & problem-solving activities, & most importantly arrange one-to-one meetings with investors relevant to your startup if you are truly passionate & committed to working with it in the days after the program.

9. Is it possible to be a part of Megapreneurs without sharing the equity?

Unfortunately, this is not possible following the constitution of YSI Bangladesh.

10. Is there any chance of the ideas to be copied?

The ultimate goal of YSI Bangladesh is to be a partner of your startup and make it sustainable & successful in the long run.

  1. The Non-disclosure Agreement (NDA) signed with the judges, investors & YSI Bangladesh authorities will prohibit them from sharing any internal information, business strategies & anything that is not available to public with third parties.
  2. The Demo Day of Megapreneurs, where you will pitch your startup in front of investors, will go on live telecast via our social media accounts.

However, in this modern age of communication, where the world has come to the hands of people, there might be always someone or some team who have the same or nearly similar idea like yours. To avoid such situations, you are suggested to copyright your idea after getting selected here, as it will give your startup a strong legal base. Otherwise, YSI Bangladesh will not be responsible for such situation.

11. What are the benefits?

  1. World class innovation curriculum
  2. Education in entrepreneurship, innovation, technology, team management, project management, leadership, personal development, how to set up a business, economics, and much more.
  3. Award & Certificate
  4. 4-5 month-long Innovation program
  5. Full funded 7 day-long campaign
  6. Media support
  7. Seed funding (if you are committed to your startup after the program)
  8. Network of expert mentors
  9. 1 to 1 investor meeting (if you are committed to your startup after the program)
  10. 1 to 1 mentoring
  11. Access to our learning platform created on www.novoed.com, libraries filled with knowledge and methods
  12. Access to our vast network of Earthpreneurs around the globe.

In the end, you will find a family of like-minded people, who are as workaholic as you are!

12. What will happen after the program?

To be honest, the main journey through the life of entrepreneurship will begin after the program, as you will have to face different real-life experiences (& also difficulties!). If you are committed to continuing the journey you started with us, then we will be with you like the most trusted companion you ever wanted.

 

A co-working space will be provided with necessary facilities so that the show goes on. Our large network of mentors from different sectors will give guideline which will benefit you in the path of entrepreneurship. Our network of investors will fund your startup if you succeed to make them understand the worth of your idea, & obviously your outstanding team.

13. Is it possible to get ideas about the alumni startups of YSI Bangladesh?

Sure. Please visit the link below to have an idea about our alumni startups.

http://www.ysibd.com/megapreneurs-1/

14. Can I apply even though I applied before?

Why not? If you fulfill the requirements mentioned in question 4, then you are cordially welcome to apply again. It will be really nice having your application again with a much more developed look!