How to get $50,000 and learn from the world's best mentors: an interview with a KDA finalist
We interviewed the founder of one of the accelerator's finalist startups.
Author - Mansur Ismagulov
The Tech AI
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Finalists of the Kazakhstan Digital Accelerator program, launched by Baiteriek and Quest Ventures, received $50,000 each. Among them is the online platform SmartTestPrep, which helps applicants gain admission to universities worldwide. The project's founder, Laura, shared the story of the startup's creation during the pandemic, its functionality as an admissions ecosystem, and plans to enter the markets of Indonesia and Vietnam.
- In short, we started as a traditional business. Even while studying at university, I began teaching and also worked as a writing assistant at the Writing Center of Nazarbayev University. With high SAT and IELTS scores, strong writing skills, and experience studying abroad, I helped students prepare for tests and apply to universities. In 2018, my future husband, Meiram, and I decided to leave our current jobs and start our own business. Over two years, we built a solid client base because clients came to us through referrals rather than advertising. In 2020, during the pandemic, we realized that we needed to scale our knowledge and help more people from the CIS region. This could only be achieved through innovative online solutions—that’s how our startup and application ecosystem platform were born.
- It was somewhat scary because, at the time of applying to incubators and accelerators, we did not have an MVP, but we had conducted thorough customer development, assembled a strong team, and identified a need to automate processes in traditional business. Perhaps that is what attracted venture capitalists.
- Educational consulting is highly relevant because the existing education system is struggling to cope with the load and conditions of the pandemic. Consulting can range from simple tutoring in school subjects to supporting students in gaining admission to top global universities or providing career guidance and choosing an innovative profession.
- It depends on the region, but in Astana and Almaty, about 70% of children know what these tests are. Due to greater awareness and opportunities, more and more children from the two capital cities want to study abroad or enter Nazarbayev University. However, a similar trend, albeit on a smaller scale, is also observed in other regions. Comparing 2018 and 2020, there is no doubt that the number of informed children has increased.
- The platform will serve as an application ecosystem where users can find all the necessary information and prepare for every stage of the application process, from choosing a university to writing essays. On the platform, users can assess their percentage chances of admission to a particular university, find scholarships and grants, decide on a country and city for study, prepare for international exams, find instructions on writing motivation letters and collecting documents, find a mentor and curator, and even improve extracurricular achievements or career experience.
- I would say everything, because we are building an ecosystem where a person does not need to scatter their attention across multiple resources and companies, as everything is gathered in one place. Additionally, the platform will feature proprietary test-prep courses, detailed instructions down to how to obtain a bank statement, and, of course, progress tracking in the “My Applications” section.
- Yes, we are registered there as a private portfolio company. The main advantages at the moment are prestige, access to a pool of investors, and a foreign jurisdiction.
- The effectiveness of our methodologies and business experience, as well as the simplicity of the business model and scalability. Why experience and business metrics? Because they demonstrate our expertise and the demand for what we want to automate and scale. Plus, profitability metrics serve as good traction. Therefore, if there is demand for the solution we offer and it is profitable, a suitable business model is needed for the solution to survive in the market. I believe these factors helped us secure investment.
- Among the main difficulties and mistakes are weak marketing and difficulty in finding strong personnel for the team. We have not yet learned how to sell effectively, and all the hypotheses we proposed were not confirmed, but this is also good experience. We will continue to try and learn.
- Spend them on platform development—on development, process improvement, creating new sections, paying employees, and marketing, marketing, marketing.
- I cannot share everything yet, but for 2022–2023, we plan to enter the markets of Indonesia and Vietnam.
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