Ideagrad is a startup incubator based in Bishkek that supports early stage entrepreneurs in the region by providing them with a comprehensive training and mentoring program along with a small seed capital. By providing entrepreneurs with a strong cushion during the difficult early phases, we help them focus on their strengths, convert their ideas into prototypes, and successfully scale their new ventures.
Kyrgyzstan has enormous growth potentials. There is a high demand for many basic services in Bishkek as well as in the rural regions of the country. There are also many entrepreneurs who are willing to start new companies to serve those needs. However, there are two major factors that are preventing more entrepreneurs from building new startups.
Ideagrad plays a key role in solving these issues that are essential for the growth of entrepreneurship in the country.
In addition to early stage investment for startups, we also provide management consulting services for small and medium enterprises. We started this new direction after finding a demand for strategic solutions to organizational issues for existing businesses in the region.
To help entrepreneurs convert business ideas into reality.
We commit to create innovative and effective approaches to solve our client’s problems. A core factor in the success of our projects is creativity and teamwork. All team members possess the necessary skills and have work experience in different spheres of business management: Finance, Management, Marketing, Design and Information Technology. Each member of the team adheres to the following principles:
Ideagrad was established in July 2013 by Abhi Adhikari and Chubak Boikonov.
The idea for Ideagrad started as an experiment in late 2012 after Abhi and Chubak met during Bishkek’s first Startup Weekend. There was clearly a lot of demand for numerous basic services in the region and entrepreneurs interested in fulfilling those needs. However, hardly any of these potential entrepreneurs were able to get their ideas off the ground because they lacked the necessary seed capital and effective business training. Abhi teamed up with Chubak to test the opportunity by providing one of the potential entrepreneurs with a small amount of seed capital and the necessary support. While that startup eventually failed after about 6 months, we used the lessons learned to invest in and support another startup that was much more successful in generating and growing its revenue.
We tested our model on a larger scale during summer 2014 by organizing a 6-week Startup Bootcamp. We selected 5 startup teams through an intensive application and interview process and provided the teams with a small seed capital, a shared workspace, and comprehensive training and mentoring to help them convert their ideas into prototypes. In August 2014, we had them present the prototypes of their websites and products to a group of investors, guests and the media during Demo Day attended by over 100 people. 3 out of the 5 teams are still operating and we are continuing to support them as they scale their new ventures.
Based on the positive feedback and enthusiasm we received from both entrepreneurs and investors during Bootcamp 2014, we are organizing our 2nd Startup Bootcamp during the summer of 2015. We are hopeful that that our efforts will create an entrepreneurial ecosystem in the region that will attract both domestic and foreign capital for early stage startups.
Our long-term goal is to create a robust support structure for entrepreneurs in Kyrgyzstan and Central Asia and turn the region into a startup hub. Even though there is a lot of potential for entrepreneurship in the region, not many young people are starting new companies because of a lack of role models. Creating just a few success stories can go a long way in inspiring entrepreneurs as well as convincing investors to be involved in creating new companies in the region. We believe that our model can transform the region by creating a youth culture around entrepreneurship and starting numerous innovative businesses, thereby attracting more investment and spurring economic growth, and leading the region towards higher self-reliance.
Ideagrad plays an important role in promoting entrepreneurship in Kyrgyzstan through various means.
We provide early-stage entrepreneurs with appropriate seed capital necessary to grow their startups to the next level.
One of the biggest obstacles is for entrepreneurs are the steep learning curve when it comes to financial and legal aspects of setting up a startup. We provide entrepreneurs with a comprehensive training program that covers the financial, legal, technical, and marketing aspects of starting a new business in Kyrgyzstan.
BCCA host regular networking events to connect entrepreneurs with other startups, mentors, field experts, and other investors. This is a great resource for entrepreneurs with great ideas looking to brainstorm and improve their ideas, as well as to find potential co-founders.
We provide startups and small and medium sized enterprises with a wide variety of services including business development, PR and advertising, corporate restructuring and market research. We also analyze startups to make financial projections based on expected cash flows and risks, and provide fair valuations.