“Don’t study to get a job, but study to learn what needs to be done to turn your idea into success. Don’t think about preparing yourself for a job opportunity, but prepare yourself to create new job opportunities.”
First of all, we would like to thank Koen Bosma, Global Head of SportsTech and Managing Director Qatar at Rainmaking for agreeing to respond to our questions.
1) Very often, Startupbootcamp is brought as an example for other innovation platforms and accelerators to follow. In fact, we are regularly being told that no benchmarking is complete without considering Startupbootcamp’s experience. Therefore, we would like to ask you to start with a brief introduction of the Startupbootcamp, its journey over the last 12 years and what distinguishes you from others accelerators?
Startupbootcamp is one of (if not the) leading accelerator in Europe. It started in 2010 in Copenhagen and we have grown to the largest, industry focused accelerator. We operate in the MENA, Americas and APAC regions. We have invested in 850+ companies, raised over USD 700 million for these companies and created more than 4,000 jobs worldwide.
2) You are based in Qatar and leading the region’s first sportstech accelerator. We know that you are also playing a very active role within the local entrepreneurial ecosystem. In your opinion, what is the outlook for entrepreneurship in Qatar?
Entrepreneurship in Qatar is of the utmost importance. The country has set ambitious goals to diversify the economy away from its dependence on the energy sector and into a knowledge-based economy. This transition will only happen through innovation and entrepreneurship. There are multiple initiatives in the country that will help aspiring entrepreneurs to launch a company.
The major anticipated shift that is on the verge of happening is a shift in mindset. Don’t study to get a job, but study to learn what needs to be done to turn your idea into success. Don’t think about preparing yourself for a job opportunity, but prepare yourself to create new job opportunities. This mindset shift is happening and starts in the roots of every country’s economy – the educational system. We are, and I am, very proud to be granted the opportunity to contribute to this shift.
3) Please tell our readers about your future plans. What’s next for Startupbootcamp? Are you planning to expand to new geographies and industry verticals?
We are always looking to help build ecosystems and help founders succeed in any geography or vertical. Among the Fortune 500 companies that we work with globally, we see a shift from “supporting early stage entrepreneurs” to the desire to collaborate with more mature businesses. As a company, we have various solutions in place that will facilitate this need. We know startups, and we know corporates. We believe in cross pollination between them.
4) What would be your advice for entrepreneurs who seek to apply to your accelerator program?
An accelerator program should never be the goal. We are simply a tool to help achieve your goals in a shorter amount of time. The better you know your goals, the better suited you are for an accelerator program. This is a universal truth in any geography we operate in.
5) How about your advice for those who seek funding?
Funding is always a topic for entrepreneurs. My personal view on funding is simple – investors invest to make money. If you have small numbers to show, you need to be an amazing communicator and storyteller to allow investors to buy-in to your dream, your vision. The more advanced you become, the more the numbers will tell the story.
The cost of building your MVP has never been lower, the ease to expose yourself to customers has never been easier. If you are a first time founder, you need to be able to convince people 1 or 2 handshakes away from your dream. If you can’t convince them – good luck in trying to convince serious angels or early stage VC’s. Most accelerators, including Startupbootcamp, will invest financially into your company too. So that could be a great start and trusted partner to help raise follow on rounds too.
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