How the NURIS business accelerator works and who can become its participant

Aya Shayakhmetova, Acceleration Programs Coordinator at NURIS, @nuris_cluster

About Me

I am the coordinator of the QuickStart acceleration programs at NURIS. NURIS is a subsidiary of Nazarbayev University. Previously, I worked in the commercialization office with scientists, managing grant implementation and targeted programs. I have been part of the innovation cluster for over ten years.

About the NURIS Business Accelerator

The Business Accelerator is a structural unit of the startup block. The second unit is the Business Incubator.

The Business Incubator runs programs for those who only have an idea. You can join without a team, sales, or a prototype. The program lasts 12 weeks and is completely free, except for a registration fee: 5,000 tenge for early registration and 10,000 tenge during the standard period. The program is conducted online with some offline events and is open to anyone interested in innovative and technology-driven business. Successful participants may be eligible for pre-seed funding ranging from 2,000,000 to 3,000,000 tenge.

The Business Accelerator supports startups at more mature stages. To participate, you must have a minimum viable product (MVP), a team, and initial sales or pre-sales. The program lasts 10 weeks and is held twice a year. It is also conducted online with some offline events.

The acceleration program offers startups two options: provide a 2% equity stake or participate on a paid basis.

The goal of acceleration is to help startups build traction, increase sales, test hypotheses, and prepare for scaling and attracting investors. The program lasts 10 weeks and provides trackers. Successful startups may be eligible for seed funding ranging from 3,000,000 to 7,000,000 tenge in exchange for an equity stake in the company.

About ABC Inc and Quick Start Programs

The Quick Start program was launched in 2016. Since then, 15 programs have been conducted, graduating approximately 150 startups. Currently, we are accepting applications for the next cohort of the Quick Start acceleration program. Applications can be submitted via this link.

The ABC Incubation program started in 2018. The team has already conducted 12 programs, graduating approximately 300 projects. It is designed for those who have only an idea and a team. Experts, mentors, and trackers help participants progress from idea to first sales. The zero stage lasts two weeks and includes masterclasses and webinars. After this, participants prepare their first pitch deck and undergo selection. The jury evaluates three-minute presentations and selects finalists for further participation.

There are no age restrictions: school students, university students, employees, and experienced entrepreneurs can participate. The main condition for participating in incubation and acceleration programs is that the startup must not be a classic business. Even if you have a classic business, you must introduce an innovative solution, whether it be in delivery, education, medicine, or artificial intelligence.

Teams must consist of at least two to three people to effectively handle tasks during the 10-week acceleration program.

We do not restrict specific sectors, but social projects and Greentech may face challenges with revenue generation. If they find and implement a revenue model, they can participate in our programs.

The acceleration program includes a team of trackers and industry experts in marketing, product development, and sales. In the first week, a diagnostic session is held to determine which expert the team should consult. From the second week, participants begin working with sales experts after analyzing the marketing strategy.

Trackers set tasks for the duration of the acceleration, while the marketing expert studies the project, product, website, Instagram, and creatives to help develop new strategies.

The goal of all experts is to help teams make the project profitable and revenue-generating.

Popular Sectors

According to statistics, 150 projects are selected at the zero stage of the incubation program, 100 at the first stage, 80 at the second, and 40-45 at the final stage. 20-25 projects reach Demo Day.

In the acceleration program, 10-12 projects are selected from 60-80 applications. Projects go through all stages of acceleration, and 6-10 projects reach Demo Day.

Popular sectors in our programs include educational projects, artificial intelligence-based projects, MedTech, and science-intensive projects. E-commerce and AgroTech are also present but in smaller numbers.

We have approximately 290 graduates who have completed acceleration and incubation programs and presented at Demo Day. These startups often demonstrate significant growth and become profitable, attracting investments both in Kazakhstan and abroad. Progress is usually noticeable one to two years after completing the programs.

For example, CodiPlay, an educational solution for robotics, completed the program in 2021 and has already expanded into the markets of South Korea, Turkey, and the UK, implementing its technology in more than 150 schools in Kazakhstan. The startup Garderob, an online platform for selling clothing, also completed the program in 2021 and is now actively attracting investments, planning to enter international markets.

Program Participants

To apply, you need to fill out a form, which takes about 30-60 minutes. You need to provide the project name, a brief description of the idea, the problem, the solution, competitors, business model, target audience, and attach a presentation and a video of up to two to three minutes. The video can be recorded on a phone in any quiet place. If you do not have a team, you should indicate in the application that a team is required. After submitting the application, you will receive a confirmation email. Then, coordinators will send a payment link so that the application can be reviewed.

For the acceleration program, you also need to fill out an application, which takes a maximum of one to two hours. It is important to attach a presentation and a video where the entire team or at least the responsible members introduce themselves and the project—up to two minutes. The video should be personal, not just general material about the project.

Acceleration requires more mature projects with an MVP, sales, and a team. The application also includes an option to provide an option for 2-5% equity or pay a specific amount. After the application is accepted, an invoice is issued for payment. Projects that do not pass selection do not pay anything.

After the application period closes, we determine how many of the selected projects will participate on a paid basis and how many will participate by providing equity. Then, we conduct negotiations and sign contracts.

Only teams that already have an Individual Entrepreneur (IE) status or a Limited Liability Company (LLC) are accepted into the acceleration program. If participants do not have an LLC, they must open one within a week after receiving confirmation of acceptance into the program.

Recommendations for Startup Beginners

To participate in the incubation program, it is important to be proactive and ready to make significant efforts. The program lasts 12 weeks, and you need to work throughout this time. You may need to combine it with other activities. It is important to understand that you will be working on your business and startup, as well as gaining experience that may be useful in the future.

It is important to be open not only to positive feedback. Experts may provide feedback on various aspects, such as marketing strategy, sales strategy, or product development. Sometimes this feedback is not well-received by all founders and teams, as they become attached to their product and idea. This "poor receptiveness" hinders project development.

Often, a person who has created one startup thinks they know everything and starts skipping many activities. As a result, the project's growth may be limited.

Commitment is also crucial in the acceleration program. Although there is no educational component, it is necessary to actively interact with experts, discuss all issues, receive feedback, and implement changes. Acceleration is not only about increasing sales and improving traction but also about internal changes in the minds of founders and teams.

Plans

I recommend subscribing to the Instagram page @nuris_cluster, where we publish information about our events, such as: guest lectures, seminars, webinars, and masterclasses. Even if you do not have a startup or experience in launching one, but you have an idea, these events can be useful. You will learn how other people started from scratch when they were school students, university students, or employees, as well as how more experienced businessmen create startups and businesses.

Such events expand your networking, giving you connections, introducing you to people, and helping you find like-minded individuals.